Judge Says Borrowers Had No Right To Rescind Loan Under TILA
Mealey's (October 7, 2016, 10:30 AM EDT) -- LITTLE ROCK, Ark. — After finding that borrowers had no right to rescind their loan under the Truth in Lending Act (TILA), an Arkansas federal judge on Oct. 4 granted a bank's motion to dismiss the case (John Dunn, et al. v. U.S. Bank National Association, as Trustee for CMSI REMIC Series 2008-02, REMIC Pass-Through Certificates Series 2008-02, No. 4:16-CV-00085, E.D. Ark.; 2016 U.S. Dist. LEXIS 137523).
(Opinion available. Document #85-161011-023Z.)
John and Wendy Dunn obtained a mortgage on Feb. 21, 2008. The Dunns sued...