News & Analysis as of

Unfair or Deceptive Trade Practices Reverse Mortgages

Hogan Lovells

New York legislature moves to impose new requirements on reverse mortgage industry

Hogan Lovells on

Originators and servicers of HECMs who do business in New York should take action now to prepare to comply with the new bill’s requirements. Ensuring compliance may require a thorough review of commercial advertisements and...more

Goodwin

Massachusetts AG Settles With Mortgage Broker and Insurance Agent Over Alleged Deceptive Practices

Goodwin on

On April 12, 2017, the Massachusetts Attorney General’s Office (AG) announced that it had reached a settlement with a mortgage broker, its employee, and an insurance agent, resolving allegations that they had preyed on...more

Smith Debnam Narron Drake Saintsing & Myers,...

CFPB Consent Orders Serve as a Reminder to Mortgage Industry on Advertising Practices

A recent series of CFPB consent orders should remind the mortgage industry to carefully monitor its advertising practices. The MAP Rule prohibits deceptive and misleading commercial communications regarding any term of any...more

Manatt, Phelps & Phillips, LLP

CFPB Acts Against Three Reverse Mortgage Companies

The Consumer Financial Protection Bureau entered into consent orders with three reverse mortgage companies alleging each committed deceptive advertising in connection with the marketing of their products....more

Ballard Spahr LLP

CFPB enters into consent orders with reverse mortgage companies to settle alleged advertising violations

Ballard Spahr LLP on

The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and...more

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