Dunn v. Bank of America N.A., 010417 FED8, 15-3985

Court:United States Courts of Appeals, Court of Appeals for the Eighth Circuit
Judge Panel:Before RILEY, Chief Judge, MURPHY and SMITH, Circuit Judges
Opinion Judge:RILEY, Chief Judge.
Party Name:John D. Dunn; Christina Dunn, formerly known as Christina L. Lapetina Plaintiffs - Appellants v. Bank of America N.A., doing business as BANA, doing business as Bank of America Corporation, doing business as BANA Holding Corporation, doing business as BAC North America Holding Company, doing business as NB Holdings Corporation; Nationstar ...
Case Date:January 04, 2017
Docket Nº:15-3985
 
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John D. Dunn; Christina Dunn, formerly known as Christina L. Lapetina Plaintiffs - Appellants

v.

Bank of America N.A., doing business as BANA, doing business as Bank of America Corporation, doing business as BANA Holding Corporation, doing business as BAC North America Holding Company, doing business as NB Holdings Corporation; Nationstar Mortgage, LLC, doing business as Nationstar Sub l, LLC, doing business as Nationstar Sub2, LLC, doing business as Nationstar Mortgage Holdings, Inc. Defendants-Appellees

No. 15-3985

United States Court of Appeals, Eighth Circuit

January 4, 2017

          Submitted: September 19, 2016

         Appeal from United States District Court for the Western District of Arkansas - Fayetteville

          Before RILEY, Chief Judge, MURPHY and SMITH, Circuit Judges

          RILEY, Chief Judge.

         John and Christina Dunn brought this action under the Truth in Lending Act (TILA), see 15 U.S.C. § 1601, et seq., alleging Bank of America failed to provide necessary disclosures. The district court[1] dismissed their complaint. Having appellate jurisdiction, we affirm. See 28 U.S.C. § 1291.

         I.

BACKGROUND

         On October 5, 2009, John and Christina Dunn (the Dunns) obtained a loan for $262, 525 from Bank of America. The loan was secured by a mortgage granting Bank of America a security interest in 2355 Sequoyah Drive in Rogers, Arkansas, which was recorded in Benton County, Arkansas.

         On February 28, 2011, the Dunns sent Bank of America a letter invoking their "Right of Rescission per the Truth in Lending Act, Regulation Z" under 15 U.S.C. § 1635 and 12 C.F.R. § 226.23. The Dunns' letter stated they sought to rescind their loan because they "were not provided with any completed copies of the notice of our right to rescind the above consumer credit transaction." The Dunns asserted Bank of America had twenty days to return "all monies paid and to take action necessary and appropriate to terminate the security interest." Bank of America responded in a letter dated March 17, 2011. The letter stated the request for rescission was "forwarded to the appropriate department" and that the loan "remain[ed] in full force and effect."

         In July 2013, Bank of America assigned the Dunns' mortgage to Nationstar Mortgage, and three months later, Nationstar Mortgage foreclosed. In August 2015, the Dunns brought suit against Bank of America and Nationstar Mortgage alleging Bank of America failed to provide them with two required copies of the "Notice of Right to Cancel" indicating the Dunns had three days to cancel the transaction. See 15 U.S.C. § 1635(a); 12 C.F.R. § 226.23. The Dunns claimed defendants have failed to honor their notice of rescission and have not returned any money or terminated the security interest. The complaint also charged defendants with wrongful foreclosure and sought to quiet title of "the Property." The Dunns requested declaratory and injunctive relief and actual and statutory damages. Attached to the complaint was a copy of the loan agreement.

         Defendants moved for judgment on the pleadings, attaching to their ...

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