News & Analysis as of

Regulation X Real Estate Settlement Procedures Act Financial Services Industry

Ballard Spahr LLP

CFPB Files Rulemaking Items With Office of Management and Budget

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The CFPB recently made filings with the Office of Management and Budget (OMB) regarding the following rules...more

Akerman LLP

CFPB Finalizes COVID-19 Amendments Regarding Foreclosure Protections for Borrowers

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On June 28, 2021, the Consumer Financial Protection Bureau (CFPB) issued a final rule to amend the mortgage servicing rules in Regulation X, which implements the Real Estate Settlement Procedures Act, to provide additional...more

Goodwin

CFPB Seeks to Hold Mortgage Servicers Accountable, and Establish New Mechanisms for Protecting Borrowers, Against Forthcoming...

Goodwin on

This month the Consumer Financial Protection Bureau (CFPB) doubled-down on its earlier warning that the end of 2021 could see widespread foreclosures as COVID-19-related protections expire, by issuing guidance to mortgage...more

Wiley Rein LLP

Wiley Consumer Protection Download (October 12, 2020)

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Welcome to Wiley’s update on recent developments and what’s next in consumer protection at the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). In this newsletter, we analyze recent regulatory...more

Burr & Forman

Fifth Circuit Confirms that RESPA Loss Mitigation Requirements Apply Only to Servicers

Burr & Forman on

The Real Estate Settlement Procedures Act (“RESPA”) and Regulation X require that federally related mortgage loan “servicers” comply with certain loss mitigation procedures. See, e.g., 12 U.S.C. § 2605; 12 C.F.R. § 1024.41. ...more

Shumaker, Loop & Kendrick, LLP

Client Alert: New Loan Servicing Rules Apply to Persons Who Acquire Interest in Mortgaged Property

Lenders and loan servicers need to be aware of some recent amendments to the mortgage servicing rules issued by the Consumer Financial Protection Bureau (CFPB). These amendments have revised certain requirements under RESPA...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Weeks Ending August 10 & 17, 2018

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REAL PROPERTY UPDATE - Foreclosure/Loan Modification: foreclosing plaintiff was required to allege and prove default of loan modification agreement after trial court found the loan modification to be the operative...more

Ballard Spahr LLP

CFPB Enters Into RESPA Settlement With Title Agent

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The Consumer Financial Protection Bureau (CFPB) recently entered into a consent order with Meridian Title Corporation (Meridian) under the Real Estate Settlement Procedures Act (RESPA). ...more

Burr & Forman

11th Circuit Draws a Line on Actual Damages Under RESPA

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In Baez v. Specialized Loan Servicing, LLC, 16-17292, 2017 WL 4220292 (11th Cir. Sept. 22, 2017) the Eleventh Circuit Court of Appeal recognized a limit to the requirement to the phrase “actual damages” in Section 2605 of the...more

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