THE RIGHT OF RESCISSION - A CONTINUING CONCERN FOR MORTGAGE LENDERS

Authors
RICHARDS BP
Citation
Bp. Richards, THE RIGHT OF RESCISSION - A CONTINUING CONCERN FOR MORTGAGE LENDERS, The Banking law journal, 111(6), 1994, pp. 557-567
Citations number
NO
Categorie Soggetti
Law,"Business Finance
Journal title
The Banking law journal → ACNP
ISSN journal
00055506
Volume
111
Issue
6
Year of publication
1994
Pages
557 - 567
Database
ISI
SICI code
0005-5506(1994)111:6<557:TROR-A>2.0.ZU;2-W
Abstract
Two recent federal court decisions holding that lenders failed to make material TILA disclosures are discussed with reference to the concern s they raise for lenders regarding: (1) itemization and classification of charges; (2) incorrect fee amounts; (3) liability for understating or overstating fees and charges; (4) taxes on loan transactions; and (5) preventative steps to be taken by purchasers of mortgage loans whe n performing due diligence with respect to loan acquisitions.