U.S. Supreme Court Clarifies Homeowners' Ability to Rescind Mortgages

January 15, 2015

In a decision today, the U.S. Supreme Court made it easier for borrowers to rescind a mortgage if the bank fails to give proper disclosures about the loan at closing. Marjorie Bardwell, director of underwriting services for Fidelity National Title Group and chair of ALTA's Title Counsel, explains what impact this ruling has on the title insurance industry and why all parties involved in closing transactions. The ruling becomes even more important with the Aug. 1, 2015 implementation of the CFPB's final rule for integrated mortgage disclosures, which combines disclosures required by the Truth-In-Lending Act and the Real Estate Settlement Procedures Act.

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