Loan Servicers Exempt From TILA Disclosure Rules: 11th Circ.

Law360, New York (July 29, 2013, 5:09 PM EDT) -- The Eleventh Circuit on Monday rejected claims that a JPMorgan Chase & Co. unit failed to notify homeowners after taking over the interest in their mortgages from Mortgage Electronic Registration Systems Inc., finding its role as loan servicer shielded it from disclosure requirements in the Truth In Lending Act.

The three-judge panel affirmed a lower court’s summary judgment ruling in favor of Chase Home Financing LLC, which had taken over the servicing of a home loan for plaintiffs Elizabeth Max Reed, an Alabama couple.

The appeals...
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