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CFPB Says Zillow is Guilty of RESPA Violations

Aug 10, 2017 by

CFPB Says Zillow is Guilty of RESPA Violations and wants a settlement or threatens to pursue further actions.

The post CFPB Says Zillow is Guilty of RESPA Violations appeared first on National Real Estate Post.

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CFPB Loses RESPA Case

Jul 26, 2017 by

CFPB loses RESPA case in Kentucky.  Perhaps this is setting a trend?  We’ll see.

The post CFPB Loses RESPA Case appeared first on National Real Estate Post.

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Lenders Realtors Zillow and RESPA

May 18, 2017 by

Today we have more on the Lender, Realtor, Zillow and RESPA subject.  Let us know you’re thoughts.

The post Lenders Realtors Zillow and RESPA appeared first on National Real Estate Post.

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Consumer Financial Protection Bureau Aggressive on RESPA

Apr 2, 2014 by

This is the “end of the beginning,” to borrow from Winston Churchill. The Consumer Financial Protection Bureau (CFPB) has mostly completed the major regulations affecting the housing and mortgage industry. While there will undoubtedly be a fair amount of additional guidance issued, any remaining actions should focus on adjustments to regulations like the Ability to […]
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CFPB Zaps Law Firm Regarding RESPA?

Oct 30, 2013 by

The CFPB can impose fines for RESPA violations.  It would appear that there is no industry outside of their reach.

A law firm had a few joint ventures going with mortgage companies and closing companies.  Apparently the firm would refer clients to the mortgage and/or closing companies and since they had a joint venture, they would get paid for the transaction.  The CFPB views this as a kickback and has fined the law firm for a violation of RESPA.

We think this should serve as a warning for all of the JV’s out there.  We’re not saying you can’t do them, but if you are doing a JV you should really make sure you’re okay with respect to RESPA.  We wonder if the CFPB will look at builder/lender relationships this way or even real estate broker/lender relationships as well.  For a new agency the CFPB is pretty darn busy.  They’re digging and they’re digging deep so be careful out there.

In other news the National Association of Realtors has made it publicly known that they’re not digging the whole 30% down issue with QM and risk retention.  Whew, NAR’s involved.  We say this lightheartedly but truth is we really mean it.  NAR carries a lot of weight and we’re hoping they can get this thing nipped in the bud before it’s too late.  Remember you can help too!  Go make a darn comment for goodness sakes.  You can get there by clicking HERE.

With that you all have a wonderful day and we’ll see you tomorrow!

Frank and Brian

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