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Lenders › Truth in Lending Act (TILA) › Rescission

Rosenberg Martin Greenberg LLP

No Windfall For You! Fourth Circuit Holds That Return of Loan Proceeds Is A Critical Part Of Rescission Under Truth In Lending Act

Rosenberg Martin Greenberg LLP on

The federal Truth In Lending Act (TILA) is a consumer protection statute designed to protect borrowers from unfair lending practices. When a consumer loan is secured by the borrower’s residence, the TILA gives the borrower...more

Spilman Thomas & Battle, PLLC

Reverse Mortgages Becoming a Bigger Part of Litigation in West Virginia

Spilman Thomas & Battle, PLLC on

Consumers in West Virginia have found a new subject on which to file lawsuits. Within the past couple of years, litigation over reverse mortgages has become a bigger part of consumer lending litigation in West Virginia....more

Buchalter

Closing Protection Letters: Overlooked Indemnity Coverage For Common Foreclosure Defense Claims

Buchalter on

Mortgage lenders are all too familiar with borrowers’ assertions that they did not receive two properly dated copies of the Truth-In-Lending Act (“TILA”) mandated Notice of Right to Cancel form (“NORTC”) at closing. Under...more

Ballard Spahr LLP

Third Circuit TILA rescission decision adopts CFPB position

Ballard Spahr LLP on

The Third Circuit has now joined the Fourth Circuit in ruling that a lawsuit seeking rescission filed more than there years after loan consummation is timely as long as the borrower sent a written notice of rescission within...more

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