06/30/2024
When a right to rescind is involved in a real estate-secured transaction, we are trying to confirm if there is anything in the regulation that requires the borrower(s) to sign all copies of the notice of right of rescission, or only requires the borrower(s) to sign one copy for the lender and leave the borrower copies unsigned. We can only find where the number of copies to be provided is specified (two for each owner if on paper, one for each owner if delivered electronically).
10/29/2023
Will the right of rescission apply on a 12-month bridge loan to purchase the borrowers secondary dwelling, using their primary dwelling as collateral also?
09/20/2020
I have a closed-end consumer 1-4 family refinance with new money being loaned. This loan has a right of rescission. Am I to collect interest on the refi loan to the date of the loan or the day it comes out of rescission?
03/08/2020
Does the Right of Rescission apply to a refinance of an existing HELOC with a new HELOC for a larger amount? The lender is the same institution, and there is new money.
01/21/2018
If a borrower is renting a home as their primary residence and they decide to purchase the house would there be right of rescission?
10/18/2015
We have a customer who is refinancing his primary residence to purchase a vacant house and lot. Since we had a right of rescission with this loan the customer cancelled the transaction. Can we charge the customer for his fees incurred with the loan request?
09/07/2015
If a Notice of Right to Rescind (ROR) is provided inadvertently to a customer not entitled to receive an ROR notice -- what are potential impacts? Could the loan be rescindable if they were provided the notice at loan closing?
04/20/2015
Is right of rescission required on a refinance of an existing HELOC if there is no new money and renewing loan to extend the maturity date?
09/01/2014
If a customer has a mortgage on land and now purchasing a mobile home, is a right of rescission required?
05/19/2014
Customer owns 2 acres of bare land. Our loan is to purchase a mobile home to place on this land to be their principal residence. Our system says that ROR applies but our LOs seem to think different. Is ROR exempt on loans of this nature?