The right of rescission is a right, set forth by Regulation Z, the Truth in Lending Act, that allows a borrower to cancel a home equity loan or line of credit with a lender within three days of closing. This course discusses the details of Regulation Z section 1026.15, right of rescission. This course is intended for lenders, loan operations staff, and compliance departments.
- Know what types of loans a consumer has the right to rescind
- Understand what notices to provide to customers and the ramifications of not doing so
- Deliver the appropriate notices and funds in the appropriate time frames
Mobile, accessible, audio, video