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Consumer Financial Protection Bureau (CFPB) Mortgage Lenders Mortgage Insurance

Bradley Arant Boult Cummings LLP

Litigation Risk for Mortgage Lenders with a Less Active CFPB

With the recent developments at the Consumer Financial Protection Bureau (CFPB), many mortgage lenders have been left wondering about the extent to which the CFPB will enforce federal laws governing the mortgage lending...more

Bradley Arant Boult Cummings LLP

HPA Compliance Is Back in the CFPB’s Crosshairs

On March 12, 2019, the Consumer Financial Protection Bureau (CFPB) issued the Winter 2019 edition of its Supervisory Highlights report, detailing key examination findings that were discovered during the second half of 2018....more

K&L Gates LLP

Back from the Dead: The D.C. Circuit Breathes Life Into RESPA Section 8 Safe Harbor

K&L Gates LLP on

Through its recent en banc decision in PHH Corp. v. Consumer Financial Protection Bureau, the D.C. Circuit reinstated the holding of the three-judge panel regarding the safe harbor provision in Section 8(c) of the Real Estate...more

Foley & Lardner LLP

CFPB Seeks Rehearing of D.C. Circuit Panel Ruling in PHH: What Now?

Foley & Lardner LLP on

The Consumer Financial Protection Bureau (Bureau) Friday filed a petition in the closely-watched PHH case, seeking to undo a ruling by a panel of judges for the D.C. Circuit Court that was highly critical of the Bureau’s...more

Arnall Golden Gregory LLP

DC Circuit Rules CFPB’s Structure Unconstitutional—Overturns $106mm Fine

On October 11, 2016, the United States Court of Appeals for the District of Columbia, widely regarded as the nation’s second most powerful court, ruled that the structure of the Consumer Financial Protection Bureau (“CFPB”)...more

BakerHostetler

Federal Appellate Court Deems CFPB ‘Unconstitutionally Structured’ and Overturns PHH Penalty

BakerHostetler on

On Oct. 11, the U.S. Court of Appeals for the D.C. Circuit deemed the Consumer Financial Protection Bureau (CFPB) “unconstitutionally structured” and overturned its enforcement action, including a $109 million penalty,...more

Foley & Lardner LLP

PHH v. CFPB: "What is a Kickback?"

Foley & Lardner LLP on

On April 12, 2016, a panel of the U.S. Court of Appeals for the D.C. Circuit heard oral argument in PHH Corporation’s (PHH) milestone legal battle with the Consumer Financial Protection Bureau (Bureau). During the argument,...more

Goodwin

Potential PMI Pitfall: Recalculating PMI Termination Date After Loan Modification May Lead to Litigation Exposure

Goodwin on

In August, the CFPB issued a compliance bulletin to clarify lenders’ obligations to terminate Private Mortgage Insurance (PMI) charges under 12 U.S.C. § 4902. One subject that the bulletin did not address—but which is...more

Burr & Forman

PHH Wins Stay of $109M CFPB Enforcement Penalty

Burr & Forman on

On August 5, 2015, PHH Corp. (“PHH”) won a stay of the $109M penalty handed down by Consumer Financial Protection Bureau (“CFPB”) director Rich Cordray. Cordray’s aggressive legal reasoning and the harsh penalties he imposed,...more

BakerHostetler

CFPB Issues Bulletin on Private Mortgage Insurance Cancellation

BakerHostetler on

On August 4, 2015, the Consumer Financial Protection Bureau (CFPB) issued a bulletin providing guidance to mortgage servicers regarding cancellation and termination of private mortgage insurance. The bulletin, discusses...more

BakerHostetler

CFPB Enforces RESPA in its First Appellate Decision of the Director

BakerHostetler on

In the first appeal of an administrative enforcement proceeding before the Consumer Financial Protection Bureau (“Bureau”), the administrative law judge (ALJ) concluded that PHH Corporation, a mortgage lender, referred...more

Morgan Lewis

CFPB Issues First Appellate Ruling

Morgan Lewis on

In affirming its own decision, the Consumer Financial Protection Bureau (CFPB) leaves few protections for targets in its administrative enforcement proceedings. If you are subject to a CFPB administrative proceeding, or...more

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