Jean C. Rosenfield v. HSBC Bank USA, Stephanie Y. O'Malley, as Public Trustee for the City and County of Denver
Published: Sep. 10, 2011 | Result Date: Aug. 31, 2010 | Filing Date: Jan. 1, 1900 |Case number: 1:10-cv-00058-MSK-MEH Bench Verdict – Defense
Court
USDC Colorado
Attorneys
Plaintiff
Defendant
Facts
Jean Rosenfield entered into a mortgage refinance agreement with Ownit Mortgage Solutions on Nov. 3, 2006. Subsequently, Ownit assigned the loan to HSBC. On Sept. 9, 2008, Rosenfield sent a notice of rescission to HSBC, seeking to rescind the loan due to Ownit's failure to disclose information in violation of the Truth in Lending Act (TILA), and the Homeowner's Equity Protection Act (HOEPA).
Contentions
PLAINTIFF'S CONTENTIONS:
Rosenfield filed suit against Ownit and HSBC, contending it failed to make required disclosures under the Real Estate Settlement Procedures Act, TILA, and HOEPA. She alleged that the loan included a prohibited prepayment penalty in violation of HOEPA, and that it violated TILA by failing to provide a right of rescission notice.
DEFENDANT'S CONTENTIONS:
HSBC contended Rosenfield failed to state a claim, and any violations by Ownit did not give rise to HSBC liability.
Result
The court entered judgment in favor of the defense.
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