Jesinoski v Countrywide

News & Analysis as of

Jesinoski Update: TILA Rescission in a Post-Jesinoski World

A little over one year ago, the U.S. Supreme Court issued its ruling in Jesinoski v. Countrywide Home Loans, Inc., 135 S. Ct. 790 (2015), which resolved a circuit court spit regarding how a mortgage borrower may exercise the...more

The Beukes Decision: A Helpful Clarification Regarding the Right of Rescission

Earlier this year, in Jesinoski v. Countrywide, the Supreme Court answered an important question regarding the procedure for rescinding a residential mortgage refinance loan under the Truth in Lending Act (“TILA”). Under...more

Three Recent Supreme Court Rulings Will Impact Lenders and Investors

Three significant opinions issued by the US Supreme Court in the last few months will impact lenders and investors. Bank of America v. Caulkett - In a major win for the nation’s mortgage lenders and...more

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

U.S. Appeals Court Rules That Mortgage Company Wrongfully Imposed Late Fees Based On Delay In Crediting Payments

In This Issue: - U.S. Appeals Court Rules that Mortgage Company Wrongfully Imposed Late Fees Based on Delay in Crediting Payments - Virginia Attorney General Joins Consumer Financial Protection Bureau in...more

Supreme Court Provides TILA Home Loan Rescission Guidance

In a recent unanimous decision, the United States Supreme Court held that a borrower exercising her right to rescind a mortgage loan under the Truth in Lending Act (“TILA”) merely had to provide written notice of rescission...more

All Consuming - Legal Updates for Consumer Finance Professionals

In This Issue: - Supreme Court Provides TILA Home Loan Rescission Guidance - West Virginia Legislature Proposes Changes to the WVCCPA - Defeating Another Challenge to the Mortgage Electronic Registration...more

Right of Rescission after Jesinoski v Countrywide

In a unanimous opinion, the Supreme Court held that providing a notice of rescission within the three-year period is timely and sufficient to trigger rescission within the meaning of 15 USC § 1635(f), the operative...more

The Truth in Lending Act and Rescission: Lessons Learned by Lenders from Jesinoski v. Countrywide

The Supreme Court just made mortgage rescission a little bit easier for borrowers and scarier for lenders in Jesinoski v. Countrywide Home Loans. Under the Truth in Lending Act, 15 U.S.C. §1601-1677 (“TILA”), mortgage lenders...more

Supreme Court’s Jesinoski Ruling Provides Clarity on TILA Rescission While Creating Many Questions

On January 13, 2015, the U.S. Supreme Court settled a circuit court split regarding how and when a mortgage borrower may exercise the right of rescission under the Truth-in-Lending-Act (“TILA”) and the CFPB’s implementing...more

Supreme Court Issues Significant Decision Interpreting Truth In Lending Act

In a unanimous decision issued on January 13, the Supreme Court held that a borrower exercises its right to rescind under Section 1635 of the Truth In Lending Act (TILA), simply by notifying its creditor of its intent to...more

Truth In Lending Act Requires Notice, Not Suit

In a unanimous and brief five page opinion, both rarities for the U.S. Supreme Court, the decision in Jesinoski v. Countrywide Home Loans (Docket 13-684, Jan. 13, 2015) made clear that the Federal Truth in Lending Act...more

Rescission of Home Mortgage Loans

The Truth-in-Lending Act (“Act”) was adopted in 1969. It has spawned dozens of lawsuits and hundreds of administrative rules and interpretations. Recently, the United States Supreme Court had an opportunity to address the...more

Borrowers Need Not File Suit to Rescind Mortgage Loan Under TILA, U.S. Supreme Court Holds

Why it matters - In a victory for consumers, the U.S. Supreme Court unanimously ruled that the Truth in Lending Act (TILA) does not require borrowers to file suit to rescind a mortgage loan transaction within the...more

Supreme Court Rules Written Notice Is Sufficient to Rescind under TILA

Action Item: In light of the United States Supreme Court’s decision in Jesinoski, lenders should be aware that written notice provided by the borrower, within three years of the loan consummation, is sufficient to exercise...more

Supreme Court Eases Requirements for Homeowners Rescinding Mortgages

The U.S. Supreme Court recently held in Jesinoski v. Countrywide Home Loans, Inc. that borrowers exercising their right to rescind mortgages under the Truth in Lending Act (“TILA”) only need to provide written notice to...more

No Lawsuit Required to Rescind: U.S. Supreme Court Clarifies Mortgage Rescission Notification Requirements for Borrowers under...

Background of Notice versus Lawsuit Issue - The Truth in Lending Act (“TILA”), as implemented by Regulation Z, provides borrowers with a powerful tool: the right to rescind certain mortgage loan transactions. This...more

High Court Clarifies TILA Rescission Procedure

In Jesinoski v. Countrywide Home Loans, et al. (No. 13-684), the U.S. Supreme Court has eased the process by which a borrower may seek to walk away from his home mortgages, holding that the borrower, in order to avail himself...more

Supreme Court Update: Jesinoski V. Countrywide Home Loans (13-684) And Whitfield V. United States (13-9026)

Greetings, Court fans! The Court returned to action yesterday with two quick-and-unanimous decisions on statutory construction, Jesinoski v. Countrywide Home Loans (13-684), addressing the time and manner for exercising...more

Jesinoski v. Countrywide Home Loans: The U.S. Supreme Court Seems Ready to Hold that a Borrower’s Right of Rescission Under TILA...

On November 4, 2014, the U.S. Supreme Court heard argument in Jesinoski v. Countrywide Home Loans, the case that will decide whether a borrower can timely exercise the right of rescission under the Truth in Lending Act simply...more

Supreme Court to Rule on Controversial Right of Rescission Timeline for Mortgages

The Supreme Court agreed this month to resolve a stark divide in the United State Courts of Appeals regarding the time bar for residential mortgage borrowers to file suits related to mortgage loan rescissions under the Truth...more

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