10th Circ. Gives Strict Window For Mortgage Rescission

Law360, New York (June 11, 2012, 7:28 PM EDT) -- The Tenth Circuit on Monday rejected a Colorado homeowner's bid to rescind her mortgage because she missed a three-year window to cancel the loan, dealing a blow to the Consumer Financial Protection Bureau and setting up a circuit split on the issue.

In a unanimous opinion in the keenly watched case, a three-judge panel based in Denver said that a lower-court ruling in the case correctly interpreted the 1998 U.S. Supreme Court ruling in Beach v. Ocwen Federal Bank by finding that a mortgage holder cannot...
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