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Borrowers Real Estate Settlement Procedures Act

Holland & Knight LLP

CFPB Proposes New Restrictions on Mortgage Servicers Before Commencing Foreclosures

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The Consumer Financial Protection Bureau (CFPB) on July 10, 2024, announced a proposed rule that would require servicers to more intently assist borrowers throughout a "loss mitigation review cycle" before being permitted to...more

McGlinchey Stafford

Litigation Byte (May Edition)

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The Litigation Byte is the new name and format for McGlinchey’s Commercial Law Bulletin. Our new format will reflect McGlinchey’s national coverage and our expanded footprint while still serving up the digestible, insightful...more

Orrick, Herrington & Sutcliffe LLP

CFPB bans two companies for reverse mortgage servicing violations

On June 18, the CFPB issued an order against two reverse mortgage servicing companies (along with certain affiliates and subsidiaries), after determining that the companies misrepresented loan defaults and failed to respond...more

Orrick, Herrington & Sutcliffe LLP

District Court clarifies law related to post-foreclosure RESPA communications

Recently, the U.S. District Court for the District of New Jersey ruled that obligations under RESPA extended beyond the issuance of a foreclosure judgment, but dismissed the plaintiff’s other claim under RESPA. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Cracks Down on Mortgage Servicers, Alleging Harmful Practices Against Older Homeowners

On June 18, the CFPB settled enforcement actions against two mortgage servicers who serviced reverse mortgages on behalf of HUD, for their systemic failure to respond to consumer requests for assistance, resulting in...more

McGlinchey Stafford

Massachusetts Federal Court Dismisses Borrower’s RESPA Claim After Borrower Fails to Plead Actual or Statutory Damages

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In April 2024, the United States District Court for the District of Massachusetts held in a matter of first impression that a borrower must allege actual damages to qualify for relief under the Real Estate Settlement...more

Troutman Pepper

Maryland Federal Court Denies Mortgage Servicer’s Motion to Dismiss Borrowers’ RESPA Claim

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The United States District Court for the District of Maryland recently denied a mortgage servicer’s motion to dismiss a putative class action claim pursuant to the Real Estate Settlement Procedures Act (RESPA) § 2605(g),...more

Orrick, Herrington & Sutcliffe LLP

District Court addresses plain meaning of “pattern or practice of noncompliance” under RESPA.

On February 7, the U.S. District Court for the District of Maryland granted in part and denied in part a defendant mortgage company’s motion to dismiss a class action lawsuit alleging RESPA violations related to escrow...more

Husch Blackwell LLP

CFPB Affirms HUD RESPA Guidance Related to Housing Credit Counselors

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The Consumer Financial Protection Bureau (CFPB) has been making waves in the mortgage settlement services space with its renewed increased attention to the Real Estate Settlement Procedures Act’s (RESPA) anti-kickback...more

Orrick, Herrington & Sutcliffe LLP

District Court: Servicer’s QWR responses did not violate RESPA

The U.S. District Court for the Western District of Washington recently granted summary judgment in favor of a defendant mortgage servicer related to alleged RESPA violations concerning qualified written requests and notices...more

Sheppard Mullin Richter & Hampton LLP

CFPB’s RESPA Advisory Addresses Digital Mortgage Comparison-Shopping Platforms, Lead Generation

On February 7, the CFPB issued an Advisory Opinion to address the applicability of RESPA section 8 to operators of certain digital technology platforms that enable consumers to comparison shop for mortgages and other real...more

Troutman Pepper

Fourth Circuit Clarifies What Constitutes a QWR Under RESPA

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On February 22, the Fourth Circuit clarified in a published opinion what communications constitute a qualified written request (QWR) under the Real Estate Settlement Procedures Act (RESPA). The Fourth Circuit held that “where...more

Bradley Arant Boult Cummings LLP

Interplay of the Cares Act's Forbearance Framework and Regulation X's Loss Mitigation Rules

On March 13, 2020, President Donald Trump declared a national emergency in response to the novel coronavirus disease (COVID-19). Shortly thereafter, to assist consumers impacted by the COVID-19 pandemic, Congress passed the...more

McGlinchey Stafford

Are My Claims Subject To Binding Arbitration?

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Loss Mitigation Review Under RESPA Hurst v. Caliber Home Loans, Inc., N.D.Ohio No. 5:19-cv-00315, 2021 U.S. Dist. LEXIS 51849 (Mar. 19, 2021) In this matter, the Northern District of Ohio held that a loan servicer did...more

Troutman Pepper

MOSLA Claim Cannot Be Predicated on Underlying RESPA Claim When No Injury Exists

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The U.S. Court of Appeals for the Eighth Circuit held that a claim based on an alleged violation of the Minnesota Mortgage Originator and Servicer Licensing Act (MOSLA) cannot be maintained when the MOSLA claim was based...more

Holland & Knight LLP

The RESPONSE: Federal and State Actions Affecting the Financial Services Industry - Edition 15

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Like our clients, Holland & Knight's Financial Services Industry Group is committed to actively contributing to our nation's response to the coronavirus (COVID-19) pandemic and related economic fallout and recovery efforts. ...more

BCLP

Signing the Mortgage Insufficient to Establish RESPA Standing

BCLP on

To sue under RESPA, one must have signed the loan, not just the mortgage. RESPA creates a cause of action but says only “borrower[s]” can use it. 12 U.S.C. § 2605(f). Accordingly, the Sixth Circuit joins the Fifth and...more

Alston & Bird

New Rules on the Horizon: NYDFS Proposes Overhaul to Mortgage Loan Servicer Business Conduct Rules

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A complete overhaul of a complicated set of rules means not just changes in the structure of the rules but changes as significant as definitions and as seemingly minor as the end of the business day. ...more

Locke Lord LLP

The Fifth Circuit Clarifies RESPA Obligations for Mortgage Servicers and Sends a Warning that RESPA Should Not Be Used as a Weapon...

Locke Lord LLP on

In Germain v. US Bank National Association, --- F.3d ---, 2019 WL 1467053 (5th Cir. Apr. 3, 2019), the Fifth Circuit resolved two issues of first impression that will have a significant impact on mortgage servicers defending...more

Manatt, Phelps & Phillips, LLP

RESPA New Private Actions? Massachusetts OKs NOE Error Suit

Just a limited set of Real Estate Settlement Procedures Act (RESPA) claims allow for private rights of action, but the list might be growing larger. One Massachusetts federal judge has ruled that borrowers may sue a servicer...more

Bradley Arant Boult Cummings LLP

Part II: Navigating the Maze of Servicing Discharged Debt

Welcome to Part II of our series on the servicing of discharged mortgage debt (catch up on Part I). This part will discuss communications to discharged borrowers and evaluate various disclaimers that can be utilized. The...more

Alston & Bird

Key Mortgage Servicing Takeaways from S. 2155

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On May 24, 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act into law. A product of rare bipartisanship, the Regulatory Relief Act makes modest reforms to the Dodd–Frank Wall...more

Ballard Spahr LLP

U.S. District Court for the Southern District of Florida Narrows the Definition of Borrower Under RESPA

Ballard Spahr LLP on

In 2014, the Consumer Financial Protection Bureau (CFPB) promulgated a number of mortgage servicing rules, including rules governing loss mitigation procedures. ...more

Balch & Bingham LLP

11th Circuit Provides that Postage Fees Incurred for Sending a Request for Information under RESPA are Insufficient to...

Balch & Bingham LLP on

If a mortgage servicer fails to comply with its obligations under the Real Estate Settlement Procedures Act (“RESPA”), 12 U.S.C. 2601, et seq., or its implementing regulations, a borrower may recover “any actual damages . . ....more

Alston & Bird

CFPB Issues Last-Minute Changes to Mortgage Servicing Rules

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As we previously reported, on October 19, 2016, the Consumer Financial Protection Bureau (CFPB) published in the Federal Register final amendments to its Mortgage Servicing Rules (Final Rule). The Final Rule, weighing in at...more

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