A years-long legal battle between the Bureau and PHH, centering on accusations of illegal kickbacks, recently ended with the Bureau dismissing the case. What does this case signify for RESPA enforcement going forward?
Read More »CFPB Ruled Constitutional—What Now?
In a split decision, a Washington appeals court has reversed a previous ruling, declaring the structure of the Consumer Financial Protection Bureau to be constitutional after all. The Court of Appeals for the District of Columbia Circuit ruled Wednesday that the ...
Read More »PHH Moves Forward With Updated Servicing Standards
In a statement released Wednesday, PHH said they will implement new servicing standards as part of a settlement with a multi-state group of state attorneys general, as well as following a “testing and reporting process to ensure compliance with the ...
Read More »Will Court Ruling Bring Changes to the CFPB?
The Consumer Financial Protection Bureau has appealed the D.C. Circuit Court's ruling in the PHH case that its structure is unconstitutional and that the director can be removed without cause. One stakeholder examines the possible effects the decision could have on the industry.
Read More »CFPB Asks Appeals Court to Rehear PHH Case
The Consumer Financial Protection Bureau has filed an en banc petition with the U.S. Court of Appeals for the District of Columbia over the court’s ruling last month that the Bureau’s structure is “unconstitutional” in the PHH Corp. lawsuit.
Read More »PHH Cries Foul, Claims CFPB Abused Its Power
The trial in the case of PHH Corp. v. CFPB is set to begin Tuesday. This is a landmark case because it is the first time in the almost five-year history of the CFPB that a company has judicially challenged a penalty handed down by the Bureau.
Read More »CFPB Plays Defense Against PHH Corp.’s Appeal of $109 Million Penalty
The Consumer Financial Protection Bureau is defending itself against a $109 million penalty the Bureau handed down to PHH Corp. for allegedly accepting kickbacks from mortgage insurers.
Read More »Judges Grant a Stay to PHH Corp. for Paying CFPB’s Penalty
Almost immediately, PHH and its lawyers, Los Angeles-based Gibson Dunn & Crutcher, petitioned the District of Columbia U.S. Circuit Court of Appeals to “modify or set aside civil investigative demand” while the company made its case against what it called an abuse of power by the CFPB
Read More »CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme
Cordray ruled that New Jersey-based mortgage lender PHH Corp. accepted kickbacks for illegally referring consumers to mortgage insurers. In addition to Cordray's ruling, a final order was issued that requires the lender to obey the law and to pay $109 million to the CFPB.
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