Donald Rea

Donald Rea

Saul Ewing LLP

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CFPB Permits Refunds of Points and Fees Charged for Qualified Mortgages

On October 22, 2014, the CFPB announced that it would permit refunds of excessive fees (with interest) within 210 days after loan closing for qualified mortgages. The provision expires in January 2021 and requires lenders to...more

10/27/2014 - CFPB Fees Mortgages Qualified Mortgage Rule

FTC Found to Have Authority Over Standard for Consumer Data Security by NJ District Court

In a first of its kind opinion, a New Jersey district court holds that the FTC has the authority to set a standard for consumer data security and that it can sue for breach of that standard under its authority to bring...more

4/10/2014 - Data Protection FTC Wyndham

Sanctions ordered against business for unintentional failure to protect evidence in anticipation of litigation

Following a broadening trend, the U.S. District Court for the Southern District of California recently held that a party is subject to sanctions – including an adverse inference instruction at trial – for negligently failing...more

1/31/2014 - Adverse Inference Instructions Breach of Duty Duty to Preserve Evidence Negligence Sanctions Spoliation

CFPB Files Enforcement Action Against Debt Services Company

The CFPB recently filed an enforcement complaint and stipulated judgment against a Florida-based debt services company, which represents the first of its kind alleging that the company is liable under Dodd Frank and the...more

6/17/2013 - CFPB Debt Settlement Services Dodd-Frank Telemarketing

From the Front Lines: The Year of Compliance – A pervasive theme of the 2013 MBA Regulatory and Compliance Conference

Although this year’s conference displayed a willingness of regulators to cooperate with industry efforts to comply with new regulations, the CFPB nevertheless shows no hesitation in filing enforcement actions, using civil...more

6/7/2013 - CFPB Compliance Dodd-Frank Mortgages

Federal Sequester Likely to Affect Construction Industry

Continued budget cuts likely will trigger construction issues and disputes in the coming months and years. As a result, contractors should take precautions on federally funded construction projects. ...more

3/13/2013 - Sequestration Spending Cuts

CFPB issues final rules on incentives and mandatory arbitration

The CFPB issued final rules reducing the financial incentives for loan officers and brokers in "risky and high-cost" consumer loans and toughening qualification standards for loan originators....more

1/28/2013 - Arbitration Agreements CFPB Higher-Priced Mortgage Loans Incentives Loans Mortgage Loan Originators Regulation Z

Consumer Financial Protection Bureau Issues New Mortgage Servicing Rules

The CFPB issued two mortgage servicing rules aimed at homeowners facing foreclosure and providing borrowers with tools and information for dealing with mortgage servicers....more

1/24/2013 - CFPB Foreclosure Mortgage Loan Servicing Standards Mortgages Regulation Z RESPA TILA

Is the Fed's Settlement with Mortgage Servicers Good for the Market?

On January 7, 2013, the Office of the Comptroller of the Currency (OCC) and the U.S. Federal Reserve Board announced an $8.5 Billion settlement with 10 of the nation's top residential loan servicers ending independent...more

1/17/2013 - Enforcement Actions Federal Reserve Loan Servicer Mortgages OCC Real Estate Market Settlement

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