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Real Estate Market Real Estate Settlement Procedures Act

Foley & Lardner LLP

Pay-to-Play in the CFPB’s Cross-Hairs: Digital Mortgage Comparison-Shopping Platforms under RESPA Scrutiny

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The Consumer Financial Protection Bureau (CFPB) ended a more than decade-long hiatus since the last formal guidance regarding Section 8 of the Real Estate Settlement Procedures Act (RESPA) on February 7, 2023, by issuing its...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending November 13, 2020

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Real Property Update - Foreclosure / Standing: affirming payment order entered pursuant to section 702.10(2), Florida Statutes, against a subsequent purchaser in favor of US Bank as the application of the statute was not...more

Buchalter

CFPB Withdraws Former Marketing Services Agreement Guidance; Issues New Frequently Asked Questions Regarding RESPA Section 8 and...

Buchalter on

On October 7, the Consumer Financial Protection Bureau (CFPB) took steps to clarify its interpretation of how settlement service providers may comply with the “no kickback” and “unearned fee” provisions of Section 8 of the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending December 6, 2019

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Real Property Update - Due Process: Trial court violated developer’s due process rights by considering and ruling upon developer’s motion to quash service of process, which was not set for hearing, despite developer’s...more

McGuireWoods LLP

Court Refuses to Dismiss Claim Based on Allegations that a Real Estate Marketing Company’s Co-Marketing Program Violated RESPA’s...

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A federal district court recently refused to dismiss a complaint alleging that a real estate marketing company operated its “co-marketing program” among real-estate agents and mortgage lenders in a manner that violated the...more

Manatt, Phelps & Phillips, LLP

Co-marketing Program May Violate RESPA, Court Rules

Ruling on an amended complaint, a Washington federal court refused to dismiss a securities class action alleging that Zillow’s co-marketing program violated the Real Estate Settlement Procedures Act (RESPA). The order was...more

Ballard Spahr LLP

Zillow Successful in Lawsuit Triggered by CFPB Investigation

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As we reported previously, in June 2018 Zillow Group (Zillow) announced that it is no longer under investigation by the CFPB for Real Estate Settlement Procedures Act (RESPA) and UDAAP compliance with regard to its...more

Ballard Spahr LLP

CFPB ends investigation of Zillow

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In a SEC filing dated June 22, 2018, Zillow Group announced that it is no longer under investigation by the CFPB for RESPA and UDAAP compliance with regard to its co-marketing program.  Zillow Group had disclosed the...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending March 9 & 16, 2018

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REAL PROPERTY UPDATE - Condition Precedent: trial court properly rejected motion to dismiss for failure to satisfy condition precedent of pre-litigation non-binding arbitration, required by Chapter 718, Florida Statutes,...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending February 9, 2018

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Misrepresentation/Concealment: genuine issues of material fact remained in dispute regarding whether board-certified real estate attorney committed fraudulent or negligent misrepresentation or concealment by falsely assuring...more

Carlton Fields

Following Cunningham, Pennsylvania District Court Finds Captive Reinsurance Putative Class Action Claims Are Time-Barred

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In this putative class action, plaintiffs alleged unlawful practices related to mortgage insurance practices, including a violation of the Real Estate Settlement Procedures Act of 1974 (“RESPA”). ...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending November 3 & 10, 2017

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REAL PROPERTY UPDATE FINANCIAL SERVICES UPDATE TITLE INSURANCE UPDATE - Misrepresentation: developer entitled to directed verdict on claims of fraudulent and negligent misrepresentation asserted by condominium association...more

Ballard Spahr LLP

CFPB investigating Zillow for RESPA compliance

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For years many industry participants wondered if allowing their real estate agents or loan officers to engage in co-marketing on Zillow Group applications and websites posed a risk to their companies under RESPA. The...more

Burr & Forman

Eleventh Circuit: (1) Mere Procedural Violation Insufficient for Article III Standing and (2) Certified Return Receipt Sufficient...

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Since Spokeo v. Robins, 136 S. Ct. 1540 (2016), as revised (May 24, 2016), the consumer finance industry has continued to refine what it means to allege a concrete injury in fact and to meet Article III case and controversy...more

Hinshaw & Culbertson LLP

Consumer Financial Services Newsletter - February 2017

Seventh Circuit Finds Bank's Response to RESPA Request "Almost Perfect" - Perron v. J.P. Morgan Chase Bank, N.A., Case No. 15-cv-2206 (7th Cir. 2017) - The United States Court of Appeals for the Seventh Circuit...more

Foley & Lardner LLP

The CFPB's Prospect RESPA Consent Orders: Eight Key Takeaways

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The Consumer Financial Protection Bureau (CFBP) on January 31, 2017, issued consent orders settling enforcement claims that a major mortgage lender violated the Real Estate Settlement Procedures Act (RESPA) in connection with...more

Ballard Spahr LLP

CFPB Publishes Updated Versions of Small Entity Compliance Guide and Guide To Forms

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The CFPB has posted on its TILA-RESPA implementation webpage updated versions of its Small Entity Compliance Guide and Guide to Loan Estimate and Closing Disclosure Forms.  The updates focus on various guidance provided in...more

Bradley Arant Boult Cummings LLP

Marketing Services Agreements Pose Grave Compliance Risk – Mortgage and Real Estate Industry on Notice

The CFPB issued Compliance Bulletin 2015-05 (Bulletin) today, which sets forth its position concerning the use of Marketing Services Agreements (MSAs) by mortgage companies and settlement service providers. Importantly, the...more

MoFo Reenforcement

CFPB Watch: MSAs Going the Way of Arbitration Clauses?

MoFo Reenforcement on

Following a now familiar approach, the CFPB issued a bulletin today that suggests deep disapproval of an entirely legal practice. This time, its target is marketing servicing agreements (MSAs), which are agreements that...more

Bilzin Sumberg

Wells Fargo Ends Marketing Services Arrangements with Builders

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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

K&L Gates LLP

Against the Tide: A New Take on RESPA’s Section 8(c)(2) Safe Harbor by the CFPB

K&L Gates LLP on

Grab a flotation device – the final decision recently issued by Director Richard Cordray of the Consumer Financial Protection Bureau (“CFPB”) in the administrative enforcement proceedings against PHH Corp....more

Carlton Fields

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

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In its Supervisory Highlights recently released, which cover the period from January to April 2015, the Consumer Financial Protection Bureau (“The Bureau”) reported its examination observations in consumer reporting, debt...more

Stinson - Corporate & Securities Law Blog

CFPB Plans Delay of Know Before You Owe Rule

Residential mortgage originators struggling to meet the August 1, 2015 implementation date for the new Truth-in-Lending RESPA Integrated Disclosure Rule received a reprieve yesterday. CFPB Director Richard Cordray issued...more

Ballard Spahr LLP

CFPB “Final” TRID Webinar

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The CFPB staff held a “final” webinar on May 26, 2015, to address the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) rule that becomes effective on August 1, 2015. Presumably the...more

Ballard Spahr LLP

Does Director Cordray Fully Appreciate the Implications of the TRID Rule?

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Statements made by CFPB Director Richard Cordray to the National Association of Realtors on May 12, 2015, suggest that the Director may not fully appreciate the implications of the TILA/RESPA Integrated Disclosure (TRID) rule...more

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