News & Analysis as of

Consumer Financial Protection Act (CFPA) Real Estate Settlement Procedures Act Mortgages

Holland & Knight LLP

CFPB Publishes Additional Proposals to Rescind "Unnecessary" Rules and Regulations

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The CFPB continues on its path to rescind what it considers to be unnecessary regulatory guidance, with two additional proposals recently published. First, the agency published an interim final rule on May 16, 2025, to...more

Orrick, Herrington & Sutcliffe LLP

CFPB sues real estate company and independent real estate brokerage group for alleged RESPA violations

Recently, the CFPB filed a complaint in the U.S. District Court for the Eastern District of Michigan against a real estate company, and an independent real estate brokerage firm and its brokerage affiliates and CEO, alleging...more

Hudson Cook, LLP

CFPB Takes Action Against Mortgage Servicer for Alleged Order Violations and Servicing Errors

Hudson Cook, LLP on

On August 21, 2024, the CFPB issued a Consent Order against the Company citing alleged failure to provide accurate information about loss mitigation options and improper handling of loan modifications. The Consent Order...more

Goodwin

CFPB Enters Into Consent Order With Mortgage Servicer Resolving Allegations of Improper Foreclosure Practices

Goodwin on

On August 21, 2024, the Consumer Financial Protection Bureau (CFPB)​ announced​ that it entered into a consent order with a​ Florida-based mortgage servicer, resolving allegations related to the mortgage servicer’s...more

Goodwin

CFPB Enters into Consent Orders with Reverse Mortgage Servicers for $16.5 Million

Goodwin on

On ​​​​​​​June 18, 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it has entered into consent orders with two companies totaling $16.5 million in civil penalties and consumer redress​,...more

Hudson Cook, LLP

CFPB Imposes Bans from Reverse Mortgage Servicing, $11.5 Million Restitution, and $5 Million in Civil Money Penalties for...

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The CFPB entered into consent orders with a Home Equity Conversion Mortgage ("HECM," also known as a "reverse mortgage") servicing contractor, its subcontractor, and two of its subcontractor's subsidiaries. The U.S....more

Hudson Cook, LLP

CFPB Bites of the Month - December Top 20

Hudson Cook, LLP on

Each month, we host a 30-minute webinar outlining the month's key announcements and takeaways from the CFPB to be considered by financial services providers. It was a particularly busy month at the CFPB, so as an extra...more

Perkins Coie

Consumer Financial Protection Bureau And Multiple States Enter Into Settlement With Nationstar Mortgage, LLC For Alleged Unlawful...

Perkins Coie on

The Consumer Financial Protection Bureau (CFPB) announced today that it has entered into a settlement with Nationstar Mortgage, LLC, d/b/a “Mr. Cooper,” one of the nation’s largest mortgage servicers and the largest non-bank...more

Goodwin

CFPB Issues Assessment of Rule Requiring Consolidation of Mortgage Disclosures

Goodwin on

On October 1, 2020, the Consumer Financial Protection Bureau (CFPB) released its rule assessment for a final Rule relating to mortgage disclosures. Known as the TRID Rule, the Bureau’s final Rule implemented requirements...more

Goodwin

CFPB Settles with Colorado Mortgage Servicer for $1.52M for Alleged RESPA Violations

Goodwin on

On May 11, 2020, the Consumer Financial Protection Bureau (CFPB) settled with a Colorado-based mortgage servicer that serviced a portfolio of mortgage loans worth approximately $112.69 billion. According to the CFPB, the...more

Troutman Pepper Locke

D.C. Circuit Court Affirms the Legality of Captive Reinsurance Arrangements

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While the court opinion on the constitutionality of the CFPB’s structure was long awaited, its decision related to RESPA affords the mortgage industry much-needed clarity. ...more

Burr & Forman

Fall 2017 Consumer Financial Protection Bureau Update

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The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) is a U.S. government agency created by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is the first federal agency tasked solely with the...more

Goodwin

CFPB Enters Consent Order with Loan Officer Over Alleged Mortgage Fee-Shifting Scheme

Goodwin on

On May 26, the Consumer Financial Protection Bureau (CFPB) announced that it had entered into a consent order with a former loan officer of a national bank, whom the CFPB alleges increased the number of loans he sold by...more

Carlton Fields

CFPB Reports Continued Mortgage Servicing and Other Violations of Consumer Financial Law

Carlton Fields on

In its Supervisory Highlights released earlier this summer, the CFPB reported its examination observations in consumer reporting, debt collection, mortgage origination and servicing, fair lending, and student loan servicing....more

Burr & Forman

Dodd-Frank News: April 2015: Dodd-Frank Wall Street Reform and Consumer Protection Act Update

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The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted as a measure to promote financial stability and protection for consumers through increased regulation of nearly every aspect of the consumer finance...more

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