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ARTICLE · 14 MARCH 2017

RESPA Two-Step: CFPB Shows Continued Expansive Interpretation Of Section 8

Morrison Foerster
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On January 31, 2017, the Consumer Financial Protection Bureau announced a Consent Order with a mortgage lender and certain of its affiliates ("Lender").

United StatesFinance and Banking
Donald Lampe
Donald Lampe
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On January 31, 2017, the Consumer Financial Protection Bureau announced a Consent Order with a mortgage lender and certain of its affiliates ("Lender"). The CFPB alleged in the Consent Order widespread violations of Section 8(a) of the Real Estate Settlement Procedures Act, stemming from a host of agreements and arrangements the Lender allegedly had entered into with settlement-side parties such as real estate brokers. In tandem with the Consent Order, the CFPB announced consent orders with each of the real estate brokerage firms identified in the Consent Order. The real estate orders represent repeat versions of the wrongdoing alleged against the Lender, and provide additional factual background on the alleged unlawful acts in the Consent Order.

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