It is currently Wed Jun 03, 2020 12:49 am

All times are UTC




Post new topic Reply to topic  [ 1 post ] 
Author Message
PostPosted: Sat Sep 23, 2006 6:54 am 
Offline
Site Admin

Joined: Fri Jul 14, 2006 6:19 am
Posts: 1687
The Home Ownership and Equity Protection Act [HOEPA], Title 15 U.S.C. sec. 1641[d], also makes assignees "subject to all claims ... that the consumer could assert against the creditor" and the legislative history of the provision suggests that it means just what it says. The Senate Report says that the provision subjects assignees "to all claims and defenses, whether under Truth In Lending or other law, that could be raised against the original lender" and "mirrors a rule promulgated by the Federal Trade Commission for 'consumer installment' loans." S.Rep. No. 103-69, at 28 [1994], reprinted in 1994 U.S.C.C.A.N. 1881, 1912; Pulphus v. Sullivan, 2003 WestLaw 1964333 [U.S.D.C. N.D. Ill. 2003]. Note: Dash v. Firstplus Home Loan Trust 1996- 2, 2003 WestLaw 1038355, at *10 [U.S.D.C. M.D. N.C. 2003] ["By its terms, section 1641[d] ... only affects ... the 'holder in due course' defense, which a defendant assignee might raise against the holder of their loan."].

_________________
David Szwak
Chairman, Consumer Protection Section, Louisiana State Bar Association
Bodenheimer, Jones & Szwak
509 Market Street, 7th Floor
Mid South Tower
Shreveport, Louisiana 71101
318-221-6444
Fax 318-221-6555


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB® Forum Software © phpBB Group