Magistrate Judge Finds TILA Claim Against Nationstar Is Time-Barred
Mealey's (June 21, 2016, 1:26 PM EDT) -- OAKLAND, Calif. — A California federal magistrate judge on June 20 granted a bank's motion to dismiss claims asserted against it by borrowers, finding that their claims for rescission of the loan under the Truth In Lending Act (TILA) were barred by a three-year statute of limitations (Muhamed Almutarreb, et al. v. Nationstar Mortgage Holdings, No. 15-cv-05207, N.D. Calif.; 2016 U.S. Dist. LEXIS 80034).
(Opinion available. Document #85-160712-004Z.)
On Dec. 23, 2004, Muhamed Almutarreb obtained a loan from Home Loan Corp., dba Expanded Mortgage Credit....