On Nov. 4, the U.S. Supreme Court heard oral arguments in Larry and Cheryle Jesinoski v. Countrywide Home Loans Inc., et al., (No. 13-684), a case that will resolve a circuit court split on portions of the Truth in Lending Act (TILA) that give a borrower the right to rescind, or cancel, a mortgage loan. At issue in the case, which has been making its way through the courts for nearly five years, is whether under TILA, a borrower can exercise his right to rescind a transaction by notifying the creditor in writing within three years of the transaction’s consummation
Lighthouse Title, which made headlines last month for entering into a consent order with the CFPB to settle concerns about its marketing service agreements (MSAs), is speaking out on what it called a “watershed moment” for MSAs. The company recently defended its integrity and ethics, voiced its disagreement with the CFPB’s findings and thanked the industry for its support.
What better place to find out some of the impact of the RESPA-TILA integrated mortgage disclosures than the Mortgage Bankers Association’s annual convention? At least that’s what Capsilon Corp. thought, taking time to survey more than 100 executives from mortgage lenders during the convention. Read on to find out the details of their survey.
Nearly a year after implementing new mortgage servicing rules for the industry, the Consumer Financial Protection Bureau on Nov. 20 proposed new rules that would provide foreclosure and additional servicing transfer protections for consumers. Read on to see the details of the proposed rule.
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