When in the process of converting a variable home loan to a fixed rate do we have the legal right to know end investor
1 Answer | Asked in Consumer Law for Texas on Apr 2, 2013.
Answered On May 11, 2013
Yes. The federal Truth In Lending Act (TILA) was amended in the recent past to provide that borrowers can request the name of the investor on their loan from their mortgage servicer, and the servicer must provide it. Otherwise, the borrower can recover any actual damages, statutory damages, costs and fees. For a good article about this subject go to http://www.creditslips.org/creditslips/2010/04/how-to-find-the-owner.html.