Breaking News
  • Former Trump campaign chair Paul Manafort found guilty of tax, bank fraud

    President Donald Trump's former campaign chair was just found guilty of tax and bank fraud. A jury in Alexandria, Virginia, found former Trump presidential campaign chair Paul Manafort guilty on eight charges of tax and bank fraud. The jury, which was deliberating 18 total charges, was unable to reach a consensus on 10 of the counts. Click the headline for the full story.

Articles Tagged with ''RESPA''

CFPB drops case against Zillow

Bureau will not pursue enforcement action
The Consumer Financial Protection Bureau is giving up its investigation into Zillow. In its latest SEC filing, the real estate giant disclosed that the CFPB will not pursue its case against the company for possible RESPA violations. The letter officially puts an end to a three-year investigation into whether Zillow’s co-marketing program violates regulations against kickbacks by enabling lenders and agents to funnel business to each other.
Read More

Court of Appeals rules against CFPB, vacates PHH’s $100M fine for alleged RESPA violations

It wasn’t a sweeping victory for the CFPB after all
While the main story coming out of Wednesday’s stunning decision from the Court of Appeals for the D.C. Circuit was the court upholding the constitutionality of the CFPB, the bureau didn’t escape unscathed. The full Court of Appeals upheld the court’s earlier decision that former CFPB Director Richard Cordray far exceeded his authority as director when he handed down a seven-figure fine against PHH for RESPA violations.
Read More

No damages, no award: Loan servicer prevails in alleged RESPA violation suit

Key takeaways on what the case means
[Expert commentary] The only thing better than prevailing in court is not going to court in the first place. A recent decision from the Eleventh Circuit illustrates how an alleged violation of the Real Estate Settlement Procedures Act spurred lengthy litigation against a loan servicing company. Here are key takeaways on what this means for the industry.
Read More

Is major RESPA battle between Zillow and CFPB imminent?

Company's stock hangs in the balance
More than a month has gone by since Zillow last gave an update on the Consumer Financial Protection Bureau’s investigation into its practices. The silence is enough to cause at least one analyst to question the likelihood the two parties will be able to reach a settlement. And if no settlement is reached, the industry should ready itself for one of the biggest RESPA battles to date.
Read More

Confused about CFPB regulations? Ask your questions here

Clarification on TRID, RESPA and more from the bureau
Ever since the Consumer Financial Protection Bureau came into fruition, the industry has spent countless hours trying to interpret how to properly stay in compliance with their regulations. For those who are having trouble making sure they interpret the rules correctly, there’s good news. Check out this new submission form from the bureau.
Read More

CFPB pushes Zillow to settle on RESPA violations

Zillow gives update on investigation in 2Q earnings, recording 28% revenue growth
The Consumer Financial Protection Bureau concluded its investigation into whether or not Zillow violated Section 8 of the Real Estate Settlement Procedures Act and Section 1036 of the Consumer Financial Protection Act. Zillow gave an update on the investigation during its earnings call on Tuesday, revealing that the CFPB invited the company to discuss a possible settlement. Zillow recorded a strong quarter, especially when it comes to mortgage revenue.
Read More

CFPB loses court battle over RESPA violations

CFPB v. Borders & Borders
A federal district court in Kentucky handed a victory to a Louisville, Kentucky law firm, Borders & Borders, after a long-standing legal battle with the Consumer Financial Protection Bureau over alleged Real Estate Settlement Procedures Act violations. The noteworthy case will definitely gain some attention in the industry given the recent controversy around RESPA violations. And in this case, the CFPB lost.
Read More