A borrower just received a message via their U.S Representatives office with a message from Freddie Mac. The borrower has been advised by Freddie Macs Borrowers Case Unit that Freddie Mac is not the creditor but the investor of his loan. The CUSIP number requested by Mr X, is investors proprietary information, and will not be disclosed to him. ************************************** If Freddie is not the creditor and the Servicer cannot be the creditor either per the FDCPA and Truth in Lending (Regulation Z), who is the creditor (lender)? Truth in Lending (Regulation Z) 226.2 (17) Creditor means: (i) A person who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than four installments (not including a down payment), and to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract. Who is the current Lender as defined in the Promissory Note? Is everyone asking this question?
Posted on: Sat, 09 Nov 2013 16:30:22 +0000
Trending Topics
Recently Viewed Topics
© 2015