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Modifications on My Mind: When “Will” Means “Must” and a Conventional Hand Signature is Not Required

August 30, 2018

Authors

Bank Bryan Cave

Modifications on My Mind: When “Will” Means “Must” and a Conventional Hand Signature is Not Required

August 30, 2018

by: Bank Bryan Cave

The Sixth Circuit has issued another opinion regarding loan modifications, following its opinion two weeks ago in Segrist v. Bank of New York Mellon (2018 WL 3773785, August 9, 2018), on which I earlier wrote.

Now, in Pittman v. Experian Information Solutions, Inc. — F.3d —- 2018 WL 4016604, August 23, 2018), the Sixth joins the First, Seventh, Ninth, and Tenth Circuits, in holding

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Lender’s “Boilerplate” Disavowal Dooms Rescission of a Common Loan Modification Agreement

August 23, 2018

Authors

Jim Goldberg

Lender’s “Boilerplate” Disavowal Dooms Rescission of a Common Loan Modification Agreement

August 23, 2018

by: Jim Goldberg

In a case with potentially broad implications, the Sixth Circuit becomes the first federal circuit court to hold that the Truth in Lending Act provides no right to rescind a loan modification agreement entered into with a successor creditor. TILA exempts from rescission “refinancing” transactions with “the same creditor secured by an interest in the same property” but not “refinancing” with a different creditor.

The

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