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Ballard Spahr LLP

VA Announces Temporary Variance Allowing Veterans to Pay Broker Commissions and Announces a Targeted Foreclosure Moratorium

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Buyer-Broker Commissions - In connection with its guaranteed home loan program, the Department of Veterans Affairs (VA) recently adopted a temporary local variance allowing veterans to pay the commission of the real estate...more

Sheppard Mullin Richter & Hampton LLP

Georgia and Rhode Island Amend Consumer Finance Laws to Add Licensing Exemption, Remote Work Authorization

State legislatures in Georgia and Rhode Island recently amended their lending and licensing laws. The following are the noteworthy updates: Georgia - - HB 891 creates an exception from licensure under the Georgia...more

Allen Matkins

Why CFL Licensed Lenders Must Submit New License Applications By Year End

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Several thousand lenders and brokers are currently licensed by the Department of Financial Protection & Innovation under the California Financing Law.   The CFL generally requires that persons engaged in the business of...more

Goodwin

California Signs Two New Consumer Protection Bills into Law

Goodwin on

On September 25, 2019, California’s Governor signed into law two bills that impact financial consumer services companies in California: California Assembly Bill 539 and California Senate Bill 187.  Both laws go into effect...more

BakerHostetler

CFPB Fines Lender and Real Estate Brokers for Improper Kickback Scheme

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On Jan. 31, 2017, the Consumer Financial Protection Bureau (CFPB) filed consent orders against one of the largest independent residential mortgage lenders, two real estate brokers and a mortgage servicer for their roles in an...more

Ballard Spahr LLP

Mortgage Lead Generator To Pay $250,000 in FTC Settlement on Deceptively Advertised Mortgage Rate Charges

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GoLoansOnline.com, Inc., a Houston, Texas-based mortgage lead generator, will pay the Federal Trade Commission $250,000 under a settlement announced earlier this month of claims it operated mortgage lending websites that...more

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