The “Valid-When-Made” Rule is under attack in federal courts, and Legal League 100’s Special Initiatives Working Group and LL100’s Chairman Stephen Hladik break down its ramifications in an informative White Paper and webinar.
Read More »CFPB Proposes Plan to Avoid Foreclosure Surge
The CFPB is suggesting a number of ways for the nation’s servicers to deal with a potential windfall of foreclosures as nearly 2.5 million homeowners prepare to exit forbearance plans.
Read More »5th Circuit Affirms Dismissal of Servicing Violations Suit
Here’s why the 5th Circuit Court recently upheld a District Court decision to dismiss a suit for alleged violations of certain servicing requirements under RESPA.
Read More »Debt-to-Income and Delinquencies
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.
Read More »RESPA Damages Denied for Delinquent Mortgagor
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.
Read More »Interpreting RESPA’s Regulation X
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.
Read More »CFPB vs. PHH Dismissed: RESPA Enforcement Implications
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 Asked to Repeal Mortgage Servicing Amendments
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, ...
Read More »Counsel’s Corner: Matthew J. Richardson
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 ...
Read More »CFPB Assesses Effectiveness of Mortgage Servicing Rule
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.
Read More »