High-cost loans can be voided when warnings aren't provided at the required time

Published: October 15, 2007

United States Court of Appeals, Eighth Circuit , No. 07-2544
Issue: Mortgage Lending
Reply Brief, filed October 15, 2007

Download the full brief (PDF)

CRL's briefs on behalf of the appellants in Moua v. Rand. CRL represents Minnesota homeowners who were refinanced into a loan defined as "high cost" by the federal Home Ownership and Equity Protection Act in this appeal before the U.S. Court of Appeals for the 8th Circuit. The homeowners did not receive warning notices three days before closing as required by that staute, and were told to sign forms inconsistent with their right under the Truth in Lending Act to cancel their loan for up to three days after closing. The Eight Circuit reversed the district court’s refusal to grant rescission of the loan based on these statutory violations in a March 2009 opinion found at 559 F.3d 842.