Mortgages, RESPA, Banks

FDIC Announces $1.5 Million Settlement with Arkansas-Based Bank and Employees

Goodwin on 5/28/2024

On May 17, 2024, the Federal Deposit Insurance Corporation (FDIC) announced a settlement with an Arkansas bank and nine of its employees, resolving allegations that the bank and the employees violated Section 5 of the...more

You Can Still Comment on the TRID Rule Assessment

Ballard Spahr LLP on 2/6/2020

As we previously reported, the CFPB is conducting an assessment of the TILA/RESPA Integrated Disclosure (TRID) Rule. Although the comment period associated with the Federal Register notice regarding the assessment ended on...more

Real Property & Financial Services Update: Week Ending July 5, 2019

Carlton Fields on 7/25/2019

Real Property Update- Landlord-Tenant: rider to a lease, containing clear and unambiguous language, controlled over the terms in the lease and limited the increase in the operating expenses charged to the tenant by the...more

Self-Reporting, TRID, and CFPB

ArentFox Schiff on 7/19/2019

On July 11, 2019, I presented at the American Bankers Association webinar, entitled, “Mortgage Disclosure Cures and Corrections — Mitigating Liability.” Below is a summary of the points presented in the webinar and additional...more

Consumer financial services: The road ahead: Mortgage origination and servicing

White & Case LLP on 3/6/2019

In 2018, the CFPB issued multiple rules, and Congress passed legislation, to clarify, revise and update the regulatory framework applicable to the home mortgage origination and servicing market....more

What Bank Litigators Want Banks to Know About the State of Consumer Protection Litigation in W.Va.

Spilman Thomas & Battle, PLLC on 10/18/2018

For decades, consumer protection has led to copious amounts of litigation in West Virginia. In the past several years, the types of lawsuits filed under the debt collection provisions of the West Virginia Consumer Credit and...more

CFPB touts initiatives in “fact sheets”

Ballard Spahr LLP on 7/26/2016

To commemorate its fifth anniversary, the CFPB released a series of “fact sheets” touting its initiatives. The “fact sheets” consist of the following: CFPB: By the numbers. The CFPB lists various statistics, such as...more

CFPB Releases Fall 2015 Report Touting Recovery of Millions Through Supervisory Actions

BakerHostetler on 11/5/2015

On November 3, the Consumer Financial Protection Bureau (CFPB) released its fall 2015 supervisory report concerning enforcement actions from May 2015 through August 2015. The Bureau highlights violations in the mortgage...more

TRID's Closing Disclosure

Baker Donelson on 10/29/2015

On October 3, 2015, the new TILA-RESPA Integrated Disclosures Rule (TRID) went into effect. The rule sought to streamline and clarify some of the overlapping and confusing language on the two different disclosure forms...more

Real Property, Financial Services & Title Insurance Update: Week Ending October 16, 2015

Carlton Fields on 10/20/2015

REAL PROPERTY UPDATE - - Foreclosure/Standing: although bank established it had possession of note prior to commencement of action, bank did not demonstrate when blank endorsement was placed on note, nor did it prove it...more

CFPB Publishes Bulletin on Respa Compliance and Marketing Services Agreements

Sheppard Mullin Richter & Hampton LLP on 10/10/2015

For some time now, the residential lending community has been concerned that the Consumer Financial Protection Bureau has taken unclear positions with respect to marketing services agreements (MSA’s) in its enforcement...more

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

Carlton Fields on 10/6/2015

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

OCC Outlines its 2016 Operating Plan to Set Forth the Agency’s Supervision Priorities and Objectives

Bradley Arant Boult Cummings LLP on 9/30/2015

The Office of the Comptroller of the Currency (OCC) released its bank supervision operating plan for fiscal year 2016 on September 25th. The operating plan sets forth the agency’s supervision priorities and objectives as...more

Montana Temporarily Reduces Licensing Renewal Fees

Ballard Spahr LLP on 9/28/2015

Montana has adopted a temporary rule to reduce certain licensing renewal fees by 50 percent for the period of January 1, 2016 through December 31, 2016. The Department of Administration believes that adopting the Uniform...more

Wells Fargo Ends Marketing Services Arrangements with Builders

Bilzin Sumberg on 8/11/2015

Concerned about “increasing uncertainty surrounding regulatory oversight of these types of arrangements,” Wells Fargo is ending all of its roughly 200 mortgage marketing services and desk rental agreements with builders and...more

PHH Wins Stay of $109M CFPB Enforcement Penalty

Burr & Forman on 8/10/2015

On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

CFPB Delays Implementation of New TRID Form

Goodwin on 7/7/2015

For the second time in recent weeks, the Consumer Financial Protection Bureau (CFPB) delayed the launch of the new integrated disclosures for residential mortgage loans under the Truth in Lending Act (TILA) and Real Estate...more

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 4/22/2015

The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

Dodd-Frank News: October 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 10/24/2014

In This Issue: - RECENT CASES .. Mortgage Servicing Rules .. Antiretaliation Provision ..Credit Default Swaps Antitrust Litigation ..CFPB Involvement in Litigation - IN THE...more

Industry trade groups provide recommendations to CFPB on TILA-RESPA implementation

Ballard Spahr LLP on 9/25/2014

Sixteen industry trade groups, including the American Bankers Association, the Mortgage Bankers Association, and Financial Services Roundtable, have sent a letter to Director Cordray in which they requested that the CFPB...more

Financial Services Report - Fall 2014

Morrison & Foerster LLP on 9/18/2014

In This Issue: - Beltway Report - Bureau Report - Mobile and Emerging Payments Report - Mortgage and Fair Lending Report - Operations Report - Preemption Report - Privacy...more

Financial Services Report, Summer 2014

Morrison & Foerster LLP on 6/9/2014

In This Issue: - Beltway Report - Bureau Report - Mobile Payments - Mortgage and Fair Lending Report - Operations Report - Preemption Report - Privacy Report - Arbitration Report - TCPA Report ...more

Dodd-Frank News: May 2014: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

Burr & Forman on 5/30/2014

In This Issue: - RECENT CASES ..Preemption ..CFPB Involvement in Litigation ..CFTC Regulation of Retail Commodity Transactions ..Durbin Amendment ..Appraiser Disclosure Requirements Under...more

Dodd-Frank News - March 2014: Dodd-Frank Wall Street Reform And Consumer Protection Act Update

Burr & Forman on 3/27/2014

In This Issue: - Recent Cases January Through March 2014 ..Dodd-Frank Amendments to RESPA ..Dodd-Frank Prohibition on Arbitration Clauses ..Whistleblower Protection Under Dodd-Frank - News &...more

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