Items Tagged with 'RESPA violation'

ARTICLES

  • PHH, Realogy agree to pay $17 million to settle lawsuit over alleged kickbacks

    Class action suit accused companies of title kickbacks involving joint venture
    PHH Corp. and Realogy Holdings will pay $17 million as part of a class action settlement over alleged kickbacks involving a former joint mortgage venture between the two companies. The lawsuit, which was originally filed in 2015, accused the companies of violating the Real Estate Settlement Procedures Act by “improperly paying and receiving kickbacks, referral fees, or other things of value in connection with the referral of title insurance and other settlement services.”
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  • 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.
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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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