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Title Companies Kickbacks

Williams Mullen

RESPA Sec. 8(a): How is an Unnecessarily High Settlement Cost Different from an Overcharge?

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In Brasko v. Howard Bank, 2022 WL 951771 (D. Md. Mar. 29, 2022), a district court recently certified a subclass of residential mortgage borrowers who alleged that First Mariner Bank, a predecessor of Howard Bank, violated...more

McGuireWoods LLP

The CFPB Strongly Scrutinizes MSAs Under RESPA

McGuireWoods LLP on

The Consumer Financial Protection Bureau (CFPB) recently provided guidance discouraging mortgage industry participants from entering into marketing services arrangements (MSAs). An MSA is an agreement under which a settlement...more

Goodwin

CFPB Guidance Cautions Against Marketing Services Agreements

Goodwin on

On October 8, 2015, the CFPB issued compliance Bulletin 2015-05 cautioning against the use of marketing services agreements (MSAs), due to the “substantial legal and regulatory risk” of violating the Real Estate Settlement...more

BakerHostetler

CFPB Bulletin Cautions That Marketing Services Agreements Often Violate RESPA

BakerHostetler on

Lenders utilizing “marketing services agreements” (“MSAs”) beware: On October 8, the Consumer Financial Protection Bureau (“CFPB”) issued a new bulletin strongly cautioning that MSAs often violate Real Estate Settlement...more

Ballard Spahr LLP

No deference for CFPB amicus brief from Ninth Circuit

Ballard Spahr LLP on

Many readers probably remember Edwards v. First American Financial Corp. for its ill-fated journey to the U.S. Supreme Court. The Supreme Court had granted certiorari to decide the issue of whether a plaintiff who brings a...more

Morrison & Foerster LLP

CFPB Ups the Ante in RESPA Crackdowns

On April 29, 2015, the CFPB, in conjunction with the Maryland Attorney General, filed six proposed consent orders—five of which are against individual defendants—in its latest RESPA enforcement action. The Bureau alleges that...more

Ballard Spahr LLP

CFPB orders New Jersey title services company to pay for illegal mortgage referrals

Ballard Spahr LLP on

On June 12, the CFPB announced that it has issued a Consent Order under which a New Jersey title services company, Stonebridge Title Services Inc., agreed to pay a $30,000 civil money penalty for paying illegal kickbacks for...more

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