United States Fourth Circuit

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Gilbert v. Residential Funding LLC, 10-2295

In a suit alleging that the defendants violated various consumer protection laws in connection with a residential mortgage, the district court's grant of the defendants' motion to dismiss is reversed in part, where 1) the plaintiffs timely exercised their right to rescind under the Truth in Lending Act (TILA) with a letter notifying the subservicer that they were exercising their right to rescind; 2) the district court erred in deciding that all of the plaintiffs' money damages under TILA were barred by the one-year statute of limitations; 3) the district court erred in dismissing the plaintiffs' usury and North Carolina Unfair and Deceptive Trade Practices Act claims; and 4) res judicata no longer barred the plaintiffs from litigating whether the note holder had authority to enforce it.

Appellate Information

  • Decided 05/03/2012
  • Published 05/03/2012


  • Floyd


  • United States Fourth Circuit


  • For Appellant:
  • Katherine Suzanne Parker-Lowe, Marc James Ayers

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