Mortgages – MCCCDA – Rescission

Where a debtor filed an adversary proceeding in which he asserted a right to rescind a loan agreement on the ground that the disclosures made at closing did not comply with the Massachusetts Consumer Credit Cost Disclosure Act (the commonwealth’s equivalent of the Truth in Lending Act), a judgment for the lender must be affirmed based on this court’s conclusions that the complaint in the adversary proceeding failed to state a claim and that the debtor knowingly and voluntarily waived any rights to rescission.

In Re: DiVittorio, Angelo (Lawyers Weekly No. 01-004-12) (47 pages) (Ripple, J., of the 7th Circuit, sitting by designation) (1st Circuit) Appealed from a decision by Harrington, J., in the U.S. District Court for the District of Massachusetts. Harvey S. Shapiro was on brief for the debtor appellant; David E. Fialkow, with whom Jeffrey S. Patterson and Nelson, Mullin, Riley & Scarborough were on brief, for appellee HSBC Bank USA, NA (Docket No. 11-1188) (Jan. 6, 2012).