Articles Tagged with ''RESPA''

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.
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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.
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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.
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You've been warned: CFPB puts real estate agents, lenders on RESPA violation watch

Enforcement now top priority
RESPA — the Real Estate Settlement Procedures Act — is a current buzzword in the housing industry with an increased scrutiny from the industry’s top consumer watchdog. So far this year, the Consumer Financial Protection Bureau slapped Prospect Mortgage with a $3.5 million fine for violating RESPA and stepped up it ongoing investigation into Zillow for possible violations. If you’re looking for a sign, here it is.
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What does the renewed CFPB RESPA investigation into Zillow mean for our industry?

In the end, no one can predict the CFPB
With a steady stream of enforcement actions and regulations coming out of the Consumer Financial Protection Bureau over the years, the industry doesn’t take the possible threat of getting a violation lightly. So with the possibility that Zillow could be violating RESPA, the industry is left to wonder what its next steps forward should be.
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Monday Morning Cup of Coffee: CFPB deepens probe into Zillow for RESPA compliance

Here's one main driver behind Dallas’ hot market
Things are heating up in the government and the housing market. The Consumer Financial Protection Bureau is deepening its investigation into Zillow’s compliance with the Real Estate Settlement Procedures Act, just as the of the government is simultaneously looking into the constitutionality of the bureau itself. As far as housing, what’s causing homes to fly off the market in Dallas?
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Two firms partner to launch new mortgage company

Joins list of brokerages entering mortgage industry
Real estate brokerage Jack Conway and lender New Penn Financial joined together to launch a new mortgage company in the Boston area. The brokerage explains the new benefit this joint venture will bring to its consumers, but could it also be painting a large target for the CFPB?
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TRID trouble? CFPB tools give exclusive advice, tips

Here's how to successfully navigate TRID
Regardless of how many preventative programs, meetings and discussions a company has surrounding TRID, it can’t trump the tools the Consumer Financial Protection Bureau, the enforcer of TRID, is giving out. Want some advice? These tools are what you need for TRID.
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Appeals Court questions constitutionality of CFPB, attacks Director Cordray

D.C. Circuit 'hostile' towards the CFPB
The opening rounds started in the legal battle between PHH and the CFPB as the U.S. Court of Appeals for the District of Columbia Circuit heard oral arguments on Tuesday. Right now, it doesn't look too great for the CFPB Director. One commenter on the hearing put it best, calling the oral argument the Super Bowl for the CFPB.
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