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Investigations › Mortgages

Sheppard Mullin Richter & Hampton LLP

FDIC Settles with Bank for Repeat RESPA Violations, Doubling Previous Fine

Sheppard Mullin Richter & Hampton LLP on

The FDIC recently announced a consent order with an Oregon regional bank for violations of Section 8 of RESPA, the FTC Act, and the FRCA, resulting in a civil monetary penalty totaling $425,000. After conducting its...more

Ballard Spahr LLP

CFPB and DOJ announce redlining settlement

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Consistent with recent indications from CFPB and Department of Justice officials that more redlining cases would soon be coming, the CFPB and DOJ have announced a proposed consent order with Hudson City Savings Bank to settle...more

K&L Gates LLP

The CFPB Weighs in on Marketing Services Agreements

K&L Gates LLP on

The Consumer Financial Protection Bureau (“CFPB”) has, for the first time, publicly expressed views on marketing services agreements (“MSAs”) under Section 8 of the Real Estate Settlement Procedures Act (“RESPA”). After...more

Manatt, Phelps & Phillips, LLP

Feds, States Sweep Country for Mortgage Relief Scams

Manatt, Phelps & Phillips, LLP on

In an enforcement sweep dubbed “Operation Mis-Modification,” the Federal Trade Commission (FTC), Consumer Financial Protection Bureau (CFPB), and 15 state Attorneys General have targeted “foreclosure relief scammers that have...more

Ballard Spahr LLP

CFPB supervisory report highlights exam report changes, non-public supervisory actions and mortgage servicing deficiencies

Ballard Spahr LLP on

Last month, the CFPB began using new templates for its examination reports and supervisory letters (collectively, “reports’). The template changes were announced in the CFPB’s Winter 2013 Supervisory Report, which highlights...more

Orrick - Finance 20/20

JP Morgan Discloses Investigation of MBS Practices

Orrick - Finance 20/20 on

In its Form 10-Q filed with the SEC on August 7, JP Morgan Chase & Co. disclosed that it is responding to parallel criminal and civil investigations by the U.S. Attorney’s Office for the Eastern District of California...more

Bilzin Sumberg

Federal Criminal Investigation of JPMorgan

Bilzin Sumberg on

The civil division of the Justice Department has preliminarily concluded that JPMorgan broke federal laws in connection with its sale from 2005 to 2007 of subprime and Alt-A residential mortgage securities, and the bank is...more

Saul Ewing Arnstein & Lehr LLP

State v. Brown Affords Managers in the Mortgage Processing Industry a Cautionary Tale

Saul Ewing Arnstein & Lehr LLP on

In Brief: - Significant jail time can result from overseeing and directing unauthorized robo-signing activities. - Victims of unauthorized robo-signing include residential mortgage servicers, in addition to...more

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