Worst TIL Violators in 2005 - Mortgage Forums for Mortgage Brokers

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Worst TIL Violators in 2005

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02-08-2006, 06:13 AM

Veronica Corningstone Veronica Corningstone is offline

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Worst TIL Violators in 2005

The Federal Trade Commission released its annual roundup of enforcement actions related to the Truth in Lending Act, among other laws. In one of two mortgage-related settlements the commission entered last year the operators of a mortgage company and a group of Colorado-based mortgage brokers violated TILA and Regulation Z by promising consumers a "no-fee," low-interest loan following a process of multiple refinances.

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