in News > Mortgage Servicing
print the content item


The Consumer Financial Protection Bureau (CFPB) has stepped into the courtroom, filing an amicus brief that states certain borrowers who did not receive important disclosures mandated by the Truth in Lending Act (TILA) may cancel their loans so long as they notify the lender of their intent to cancel within three years.

The bureau filed its amicus brief in connection with the case of Rosenfield v. HSBC Bank USA, which is currently before the in the U.S. Court of Appeals for the Tenth Circuit in Denver.

"We are committed to making sure that borrowers can exercise their rights to the full extent allowed under this law," says CFPB Director Richard Cordray. "The consumer’s right to cancel gives lenders a powerful incentive to provide the disclosures that consumers need to make good financial choices."


Six important questions you need to ask about your compliance process. Click to download the buyers guide._id1144


Latest Top Stories

Greenwich Estate Sells For Record $120 Million

Copper Beech Farm, a 51-acre property and mansion located on the waterfront in Greenwich, Conn., hit the market last spring with an asking price of $190 million.


AMCs Generally Receptive To Proposed 'Minimum Requirements' Rule

The rule would require all AMCs that operate in states that have supervisory programs to register in those states and to allow those states to have authority over their licensing.


Major Metros Showing 'Early Signs' Of A Housing Bubble

Among the 35 largest metros nationwide, more than half of homes currently listed for sale are considered unaffordable by historical standards, according to a recent report from Zillow.


Waters Introduces Yet Another Housing Finance Reform Bill

But unlike the other three bills now before Congress, Waters' proposal calls for replacing Fannie and Freddie with a cooperative of lenders that would be the sole issuer of mortgage-backed securities guaranteed by the government.


OIG: Property Preservation Companies Need Better Controls

A recent OIG audit revealed that there are numerous problems plaguing the property preservation business, not the least of which is the submission of false or erroneous property inspection reports on the part of sub-contractors.

LenderLive_id1164
Hse SandyHook
Orb Mobile
Play for Pink
SWBC_id1156
Superior Home_id1078
FedHomeLoan_id1130