X
    X
    X
    X

    U.S. Supreme Court Rescission Ruling Resource: Locke Lord Partner Simon Fleischmann

    Articles
    In the wake of the recent U.S. Supreme Court ruling that allows borrowers to skip courts when filing rescission actions, Locke Lord Partner Simon Fleischmann provided an analysis on the issue for readers of The American Banker and National Mortgage News. Fleischmann anticipates an increase in "frivolous" rescission notices because before the Court’s decision costs associated with a borrower filing a lawsuit limited rescission bids, but that is no longer a restraint. "When a lawsuit is required, there is a filing fee and there is an obligation by the borrower to certify that they are making a pleading in good faith and upon a reasonable investigation. That tends to weed out a lot of truly frivolous claims," Fleischmann said. "Without that mechanism in place, anyone can send a letter and assert a rescission demand. I think more people will do that."

    Fleischmann, who is based in Locke Lord’s Chicago office, can be reached by email at sfleischmann@lockelord.com or by phone at (312) 443-0462.

    Explore Additional Topics

    Disclaimer

    Please understand that your communications with Locke Lord LLP through this website do not constitute or create an attorney-client relationship with Locke Lord LLP. Any information you send to Locke Lord LLP through this website is on a non-confidential and non-privileged basis. Therefore, do not send or include any information in your email that you consider to be confidential or privileged.