PUBLIC LAW 104-29—SEPT. 30, 1995 109 STAT. 275 "(1) IN GENERAL.— Except as otherwise specifically provided in this title, any civil action against a creditor for a violation of this title, and any proceeding under section 108 against a creditor, with respect to a consumer credit transaction secured by real property may be maintained against any assignee of such creditor only if— "(A) the violation for which such action or proceeding is brought is apparent on the face of the disclosure statement provided in connection with such transaction pursuant to this title; and "(B) the assignment to the assignee was voluntary. " (2) VIOLATION APPARENT ON THE FACE OF THE DISCLOSURE DESCRIBED.— For the purpose of this section, a violation is apparent on the face of the disclosure statement if— "(A) the disclosure can be determined to be incomplete or inaccurate by a comparison among the disclosure statement, any itemization of the amount financed, the note, or any other disclosure of disbursement; or "(B) the disclosure statement does not use the terms or format required to be used by this title.", (b) SERVICER NOT TREATED AS ASSIGNEE.—Section 131 of the Truth in Lending Act (15 U.S.C. 1641) is further amended by adding after subsection (e) (as added by subsection (a) of this section) the following new subsection: " (f) TREATMENT OF SERVICER.— "(1) IN GENERAL. —^A servicer of a consumer obligation arising from a consumer credit transaction shall not be treated as an assignee of such obligation for purposes of this section unless the servicer is or was the owner of the obligation. "(2) SERVICER NOT TREATED AS OWNER ON BASIS OF ASSIGN- MENT FOR ADMINISTRATIVE CONVENIENCE. —^A servicer of a consumer obligation arising from a consumer credit transaction shall not be treated as the owner of the obligation for purposes of this section on the basis of an assignment of the obligation from the creditor or another assignee to the servicer solely for the administrative convenience of the servicer in servicing the obligation. Upon written request by the obligor, the servicer shall provide the obligor, to the best knowledge of the servicer, with the name, address, and telephone number of the owner of the obligation or the master servicer of the obligation. "(3) SERVICER DEFINED.— For purposes of this subsection, the term 'servicer' has the same meaning as in section 6(i)(2) of the Real Estate Settlement Procedures Act of 1974. "(4) APPLICABILITY. —This subsection shall apply to all consumer credit transactions in existence or consummated on or after the date of the enactment of the Truth in Lending Act Amendments of 1995.". SEC. 8. RESCISSION RIGHTS IN FORECLOSURE. Section 125 of the Truth in Lending Act (15 U.S.C. 1635) is amended by inserting after subsection (h) (as added by section 5 of this Act) the following new subsection: "(i) RESCISSION RIGHTS IN FORECLOSURE.— "(1) IN GENERAL.— Notwithstanding section 139, and subject to the time period provided in subsection (f), in addition to any other right of rescission available under this section for a transaction, after the initiation of any judicial or nonjudicial
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