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Mortgage Crisis: What the Truth in Lending Act Can Do For Borrowers (Online Course) |
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Predatory lending has been a problem in the subprime arena for years. With the advent of the Option ARM and other non-conventional home loan products, now even A-paper borrowers are finding themselves with serious loan problems.
The federal Truth in Lending Act (TILA) is a strict liability statute that, when materially violated, may allow homeowners to rescind their mortgages. Under a TILA rescission, the lender loses all right to charge interest on the loan as well as their rights to charge any and all fees associated with the mortgage, including prepayment fees.
In this program, our expert faculty analyze TILA and discuss the best ways to use it to assist your clients. After listening to this program and reviewing the accompanying course materials, you will be able to:
- explain how TILA can help your clients
- identify which loans are covered by TILA
- recognize if and when TILA has been violated
- list the necessary steps to rescind a loan under TILA
- construct strategies to overcome common defenses
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During the checkout process, you'll be prompted to enter the name and e-mail address of the person who will be taking the online course ("course registrant"). An e-mail containing your personal link to access the course ("Course URL") will be sent to the e-mail address entered for the course registrant. Simply click on the link (or cut and paste it into your browser). If you are purchasing the course for someone else, please enter that person's name and e-mail address on the Course Registrants page during checkout. You can also write a note for the course registrant, which will be passed along in the e-mail.
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