Online Education Course

Regulation Z: The Right to Rescind Closed End Loans


Regulatory Authority: Consumer Financial Protection Bureau (CFBP)

Credit Hours:

Regulation Z provides a borrower a limited right to rescind a mortgage secured by the borrower’s principal residence. Loans exempt from rescission are a residential mortgage loan (which is a purchase money loan), and a refinancing of a principal residence secured loan by the same creditor that made the loan being refinanced, provided that there is no extension of new money.

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