News & Analysis as of

Written Notice Mortgages

Freiberger Haber LLP

Second Department Dismisses Action for Specific Performance Because Contractual Conditions Were Not Satisfied

Freiberger Haber LLP on

Many times, remedies for the breach of a contract other than monetary damages are necessary to make a plaintiff whole...more

Seward & Kissel LLP

Marshall Islands Maritime Act Amended

Seward & Kissel LLP on

In August 2023, the parliament of the Republic of the Marshall Islands, the Nitijela, adopted amendments to the Maritime Act of 1990 (the “Maritime Act”), which can be found here. Set forth below is a summary of the...more

Locke Lord LLP

Newly-Enacted Texas Law Confirms Mechanism for Lenders to Unilaterally Rescind Acceleration

Locke Lord LLP on

On June 17, 2015, Governor Greg Abbott signed House Bill 2067, which amends the Texas Civil Practice and Remedies Code to provide a clear mechanism for lenders to unilaterally rescind acceleration of a defaulted loan. ...more

Spilman Thomas & Battle, PLLC

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

Spilman Thomas & Battle, PLLC

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 System...more

Dorsey & Whitney LLP

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

Dorsey & Whitney LLP on

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

Stinson LLP

Supreme Court Issues Significant Decision Interpreting Truth In Lending Act

Stinson LLP on

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

Sherman & Howard L.L.C.

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

Manatt, Phelps & Phillips, LLP

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

Blank Rome LLP

Supreme Court Rules Written Notice Is Sufficient to Rescind under TILA

Blank Rome LLP on

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

Bilzin Sumberg

Supreme Court Eases Requirements for Homeowners Rescinding Mortgages

Bilzin Sumberg on

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

Bradley Arant Boult Cummings LLP

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

Miller & Martin PLLC

High Court Clarifies TILA Rescission Procedure

Miller & Martin PLLC on

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

Snell & Wilmer

Supreme Court Unanimously Resolves Circuit Split Regarding Notice Requirement for Truth in Lending Act Right of Rescission

Snell & Wilmer on

In Jesinoski v. Countrywide Home Loans, Inc., decided January 13, 2015, the United States Supreme Court resolved a circuit split and clarified that borrowers need not file a complaint in order to invoke their right to rescind...more

Holland & Knight LLP

SCOTUS Ruling Makes it Easier for Borrowers to Rescind Home Loan Under Truth in Lending Act

Holland & Knight LLP on

On January 13, 2015, the U.S. Supreme Court unanimously ruled that borrowers may reserve and effect their right to rescission by simply notifying creditors of their intent to rescind a loan within three years after receiving...more

Baker Donelson

Supreme Court Resolves Circuit Split Over TILA Rescissions Limitations Period

Baker Donelson on

The United States Supreme Court ruled yesterday that a borrower relying on the Truth in Lending Act (TILA) to rescind his mortgage loan need only mail written notice of his intent to his lender within three years of the...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Jesinoski v. Countrywide Home Loans, Inc.

On January 13, 2015, the U.S. Supreme Court held that borrowers exercising their right to rescind a loan under the Truth in Lending Act must provide written notice to their lender within the three-year rescission period but...more

Foley & Lardner LLP

The Supreme Court Just Held That TILA Rescission Is Accomplished With Notice Alone

Foley & Lardner LLP on

Until today, courts were split over what steps borrowers must take to rescind a home loan. Some courts had ruled that a borrower simply had to send a rescission notice to his creditor within three years after taking out a...more

Levenfeld Pearlstein, LLC

Illinois Case Law and Legislation Update

Effective January 1, 2015, Section 18.4 of the ICPA was amended to permit a condominium Board of Directors to adopt and amend its rules and regulations to allow for electronic delivery of notices and other communications...more

Ballard Spahr LLP

Loan Servicer Properly Identified as Party with Authority To Negotiate Mortgage Terms in Foreclosure Notice, Georgia Court Holds

Ballard Spahr LLP on

A recent decision by the Georgia Court of Appeals helps to add further clarity to the state’s foreclosure notice statute. The statute, which was amended in 2008, requires that the written notice of a foreclosure sale “shall...more

Ballard Spahr LLP

Borrower Can Sue After Three Years to Rescind Mortgage Loan, 3rd Circuit Rules

Ballard Spahr LLP on

A borrower can bring a lawsuit seeking rescission more than three years after loan consummation as long as the borrower has sent a written notice of rescission within the three-year period, the U.S. Court of Appeals for the...more

21 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide