Articles Tagged with ''RESPA''

CFPB Set to Assume RESPA Violation Cases

Following two major settlements related to RESPA violations, the Department of Housing and Urban Development (HUD) will transfer more than 1,500 open cases to the Consumer Financial Protection Bureau (CFPB) with their official launch next week. The two settlements focused on improper payments or kickbacks paid by companies in exchange for referrals in direct violation of RESPA rules.  HUD reached settlement agreements with Fidelity National Financial settled for $4.5 million, followed by a $3.1 million settlement with Prospect Mortgage. The transfer of the open cases will include the transfer of 37 HUD employees to the CFPB when the new agency
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FNF Fined $4.5 Million by HUD for RESPA Violations

The Department of Housing and Urban Development (HUD) announced a $4.5 million settlement with Fidelity national Financial Inc. (FNF) to settle alleged RESPA violations related to improper kickbacks or referral fees paid to real estate brokers and other service providers. In agreeing to the settlement, FNF agreed to pay the fine and cease the alleged widespread practices in violation of RESPA rules. “RESPA is very clear that paying fees or providing anything of value for the simple act of referring business is a violation of law,” said Acting FHA Commissioner Robert Ryan. “This agreement should be a signal to
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