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Truth in Lending Act (TILA) Assignees

Ballard Spahr LLP

Assignee Not Liable Under TILA for Mortgage Servicer's Failure to Provide Payoff Statement, 11th Circuit Holds

Ballard Spahr LLP on

The assignee of a residential mortgage loan is not liable under the Truth In Lending Act (TILA) for a loan servicer's failure to timely provide a payoff demand, the 11th Circuit recently held. TILA requires that a mortgage...more

Bradley Arant Boult Cummings LLP

Eleventh Circuit Refuses to Extend Scope of Assignee TILA Liability to Failure to Provide Payoff Balance

Ruling on an issue of first impression at the Circuit Court level, the Eleventh Circuit recently refused in Evanto v. Federal National Mortgage Association to impose Federal Truth in Lending Act (TILA) liability on assignees...more

Ballard Spahr LLP

Mortgage Assignee Not a 'Creditor' for Purposes of TILA Obligations Existing over the Life of a Loan… at Least for Now

Ballard Spahr LLP on

Under the Truth in Lending Act (TILA), the assignee of a mortgage note is not considered a "creditor" and is therefore not bound by TILA requirements imposed solely on creditors. One federal appellate court, however, has...more

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