Truth in Lending: 11.7.10.5.3 Are creditors liable for the actions of servicers?
The application of principal-agent liability to servicer violations of TILA has been addressed most frequently in the context of section 1641(f)(2), which requires servicers to respond to homeowner inquiries as to the owner or master servicer of the loan.1110 Congress amended section 1640(a) in 2009 to create a private right of action for violations of section 1641(f).1111 Because creditors have no direct responsibilities of their own under section 1641(f), many courts have interpreted t