Norman Sage v. Freedom Mortgage Company

The outcome of this appeal turns upon two questions that have not been squarely addressed by our court: whether the disclosure of net loan proceeds required by section 129(a)(1) of the Truth in Lending Act, 15 U.S.C. § 1639(a)(1),1 and by the decision *1210of the fifth circuit in Pollock v. General Finance Corp., 535 F.2d 295 (5th Cir. 1976), rehearing denied, 552 F.2d 1142 (5th Cir.), cert. denied, 434 U.S. 891, 98 S.Ct. 265, 54 L.Ed.2d 176 (1977), must be made separately from other required or permissible disclosures; and whether use of the term “AMOUNT OF LOAN” to describe the amount of a note…