Tag Archives: truth in lending

Mortgage Lender to Pay $250,000 for Deceptive Advertising

The Consumer Financial Protection Bureau (CFPB) has announced a consent order against RMK Financial Corporation, ordering it to pay a penalty of $250,000 for deceptive advertising. RMK is a  California-based mortgage lender doing business under the name Majestic Home Loans. According to the CFPB press release, RMK mailed print advertisements to more than 100,000 consumers in […]

Court Rules Borrowers Can Rescind Mortgages When Lenders Don’t Follow Truth In Lending Law

(Jeff Sorg – OnlineEd) – The US Supreme Court has ruled in favor of homeowners wanting to rescind their mortgage because their lender failed to follow Truth in Lending law. The Court ruled that a borrower exercising his right to rescind under Truth in Lending need only provide written notice to his lender within the 3-year period, not file suit […]