The U.S. Supreme Court recently held that a consumer may exercise the right to rescind a residential mortgage loan by simply sending a written notice within three years of the loan closing to the creditor, rather than by filing a lawsuit within such period. There is concern that this may greatly increase the number of rescission notices received by creditors. Creditors need to develop new strategies for dealing with this problem. It may be necessary for creditors to become more proactive by filing declaratory judgment actions in court in order to obtain a binding determination of whether the loan is rescindable and, if so, what must be done to unwind the mortgage loan. During this webinar we will explore the following topics: 

  • The holding and implications of the Supreme Court’s decision 
  • Whether and how to file a declaratory judgment action in court against the borrower 
  • Creative arguments for limiting the amount refunded to the borrower where the borrower received a benefit from the refinancing

Program

12:00 PM - 1:00 PM ET 

Moderator

Alan S. Kaplinsky, Practice Leader
Consumer Financial Services Group

Presenters

Richard J. Andreano, Jr., Practice Leader
Mortgage Banking Group

Jeremy T. Rosenblum, Practice Leader
Consumer Financial Services Group

Martin C. Bryce, Jr., Partner
Mortgage Banking Group

Joel E. Tasca, Partner 
Mortgage Banking Group 

Continuing Legal Education

This program is open to Ballard Spahr clients and members of the financial services industry. There is no cost to attend. This program is not eligible for continuing education credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Max deLone at delonem@ballardspahr.com

Register

Program Contact

Max deLone
215.864.8833
delonem@ballardspahr.com