THINKING OF PLEADING TILA? THINK TWICE!

BREAKING NEWS — OP-ED — 

The U.S. 8th Circuit Court of Appeals has just affirmed the U.S. District Court’s decision (for the District of Minnesota) on the Jesinoksi case once and for all.

Why am I not surprised? 

See the Opinion here: Jesinoski v Countrywide Home Loans Inc et al, 8th App Cir No 16-3385 (Feb 28, 2018)

It did not fare well for the Jesinoksis TILA claims, which were narrowly ruled upon by the U.S. Supreme Court and sent back down to the U.S. District Court for further determination.

There are a lot of folks out there who are caught up in mortgage loans of their own making, now realizing that they “coulda, shoulda, woulda” when it came to disputing whether or not the lender of their mortgage complied with all of the regulations in the Truth-in-Lending Act (TILA).  The facts of the case are pretty much self-explanatory, but very narrow in interpretation, so I’m not going to belabor the point by regurgitating the pain of explaining it again.

If you’re going to plead TILA, read this case first and realize what the court accepted and what it didn’t.  If you didn’t comply with ALL of the requirements of TILA, you will find yourself in the same boat as the Jesinoskis.  I hate to make an example of them, but as the result of this case, a lot of wannabe paralegals and attorneys have fleeced homeowners for money, claiming they can help them file a TILA case on their behalf, only to find themselves in more legal hot water than they bargained for.

First, TILA is a federal regulation.  That means it has to be litigated in federal court, where judges are bound by this decision.

If your attorney has never successfully litigated a TILA claim, then why did you choose that attorney?

Filing a rescission does NOT mean you get a FREE HOUSE!  I don’t give a damn what these well-meaning “pro se paralegals” tell you.  If someone makes that assertion, run like hell in the opposite direction!  With TILA cases, there are strings attached … and because there is a mortgage loan involved and the homeowner inured to the benefit of that loan, then there will be hell to pay when the homeowner has to solely rely on TILA claims instead of looking for real “red meat”, like the fact that the loan started out with America’s Wholesale Lender (“AWL”), which Bank of America, N.A. claims is its subsidiary, when in fact, there is no recorded proof in the New York Secretary of State’s office that indicates that AWL was a “New York Corporation” at the time it allegedly made the Jesinoski’s loan.  The focus of the Jesinoski Complaint was that they did not receive the required number of TILA-related copies, which the Court found to be inaccurate.  If this is the best one can do … not getting the right number of copies … (I’m shaking my head now) … this just set precedent as well as a learning curve for others.  It appears that a non-existent New York Corporation (vis a vis the lying bastards and thieves at Bank of America, N.A.) just stole the Jesinoski’s home and no one even bothered to contest whether AWL was actually a legitimate entity at the time the loan was executed.  Of course, MERS and Mortgage Electronic Registration Systems, Inc. were involved.  Both Delaware corporations were involved in ALL AWL TRANSACTIONS!  The whole thing was a sham based on a sham corporation.

Don’t believe me?  Look here: US Bank v Dimant_2013-CA-001130

When you don’t look at the whole picture, this is what happens to you.  Learn from the Jesinoski’s mistakes.  Federal judges are NOT big fans of American homeowners!  Do your research before jumping in with both feet.

This was a very expensive case to litigate all the way up to the U.S. Supreme Court and back.

It started at the U.S. District Court level (the District of Minnesota, a Torrens State, which does NOT favor homeowners and loves MERS).  The State of Minnesota enacted the “MERS Statute”.  And you want to live there?  Seriously?  This should have been an indication that in Minnesota, you either pay your mortgage or you’re homeless … or you move elsewhere.  If MERS is in your chain of title, it doesn’t matter about Torrens issues, your title in Minnesota is still shit!

Then it went to the 8th U.S. Circuit Court of Appeals, which ruled against the Jesinoskis, who then appealed it to the U.S. Supreme Court, who narrowly ruled on the law and sent it back down to the U.S. District Court, who correctly determined that the Jesinoskis were incorrect in their assumption of the TILA regulations.  They then appealed THAT ruling to the 8th Circuit again, which affirmed the lower court and now the rest is history.  Unless the Jesinoskis attack the real culprit, the phony AWL New York Corporation, they might as well pack their things and find a new place to live.

Don’t let this be YOUR “hard lesson”.

Listen to Dave Krieger, Clouded Titles author, on WKDW-FM, 97.5, North Port, Florida, Friday Night at 6:00 p.m. EST on City Spotlight, Special Edition (with co-host R.J. Malloy, retired attorney and former Clerk to a U.S. District Court judge), streaming live on kdwradio.com.  Click “LISTEN LIVE” to join the broadcast.  Dave will be talking about a variety of consumer-related issues, including this one!

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4 Comments

Filed under BREAKING NEWS, OP-ED

4 responses to “THINKING OF PLEADING TILA? THINK TWICE!

  1. As a former mortgage broker and loan processor the first thing I would do is to try to clean up the TILA reporting processes in the office i went to work for. Often the Owner would stop me because they would start getting complaints from the borrowers being told one thing and the APR being different. To the average person APR is sometimes hard to explain. But the real issue was always the quoted rate by the loan officer and the actually rate they got at closing. Each 1/8% in a higher rate who make the loan officer and company about 5/8% more in loan origination fees, based on the loan amount. The borrower of course was getting fleeced of thousands of dollars over the long term. During volatile rate periods it could be a 1/2% or higher difference. People didn’t understand that sometimes interest rates would change everyday and on occasion twice a day, especially in a rising rate environment. My point is, TILA violations are monetary damages from the above type actions to the borrower and not something that would warrant annulling the loan. Additionally trying to prove it with such flimsy records often times verbal, good luck. I’ll bet you can win a monetary damage if you have the proper evidence.

    Liked by 1 person

  2. beluved2009gmailcom

    Do you have a private contact email address that won’t go online immediately; like some documents, a comment or discuss something with you.

    On Thu, Mar 1, 2018 at 10:29 AM, Clouded Titles Blog wrote:

    > cloudedtitlesblog posted: “BREAKING NEWS — OP-ED — The U.S. 8th Circuit > Court of Appeals has just affirmed the U.S. District Court’s decision (for > the District of Minnesota) on the Jesinoksi case once and for all. Why am I > not surprised? See the Opinion here: Jesinoski” >

    Liked by 1 person

  3. Hammertime

    Thought was going to be anti TILA tirade but good points. Sounds like bad lawyering. Haven’t read case but did “lender” verify debt in court within 20 days? If not then sounds like Minnesota is ignoring the law.

    Liked by 1 person

  4. Pingback: THINKING OF PLEADING TILA? THINK TWICE! — Clouded Titles Blog | California freelance paralegal

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