Tag Archives: RESPA

What is constraining debt-to-income ratios from returning to pre-crisis levels? The latest report on the Ability to Repay Rule from CFPB might have the answer.

An analysis of what constitutes “actual damages” for borrowers under RESPA gives insights into how borrowers making false claims under this Act are likely to face an uphill task. Editor's Note: This feature originally appeared in the January issue of DS News, out now.

How can servicers succeed in legal cases that require an understanding of RESPA regulations to create a win-win for lenders and borrowers? Editor’s note: This feature originally appeared in the January issue of DS News, out now.

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?

A group of a half dozen trade associations recently sent a letter to Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau. The letter raises objections over 2016 amendments to the CFPB’s  2013 RESPA and TILA Mortgage Servicer Rule, ...

Matthew J. Richardson is Manley Deas’ Director of Litigation and Compliance. Throughout his career, he has practiced in the areas of commercial and financial services litigation and currently focuses his practice on defending mortgage servicers in trials and appeals. Before ...

Currently, the Bureau is seeking comment from consumers, consumer advocates, housing counselors, mortgage loan servicers, industry representatives, and the general public regarding the RESPA mortgage servicing rule, and will issue a report of their assessment by January 2019. The rule, introduced in January 2013 and which took effect in January 2014, was designed to assist consumers who were behind on mortgage payments. Among other things, the RESPA mortgage servicing rule requires servicers to follow certain procedures related to loss mitigation applications and communications with borrowers.

Kirby McDonough, a member of Quarles & Brady's Commercial Litigation Practice Group, spoke with DS News about the growing number of “manufactured” lawsuits claiming alleged RESPA violations that have sprung up in the wake of the decline in foreclosures—and how to prepare yourself to deal with these types of lawsuits.

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.

Wells Fargo and JPMorgan have agreed to pay a combined $35.7 million in penalties and redress over their roles in an alleged kickback scheme with a Maryland title company, according to an announcement from the Consumer Financial Protection Bureau (CFPB) on Thursday.