The Supreme Court’s decision last year in Cantero v. Bank of America is trickling down to lawsuits in lower courts, including a decision in a case about interest on mortgage escrow accounts.
Rocket Mortgage claims it had no authority to correct the alleged discriminatory appraisal connected to a refinance application. The lender said it expects to be vindicated.
Fewer than 3,000 people have been convicted of federal mortgage fraud over the past 12 years and most didn’t serve the maximum sentence, according to an industry researcher.
Some guidance documents tied to the Real Estate Settlement Procedures Act were not among the dozens of guidance documents withdrawn by the CFPB earlier this year.
CFPB proposal on ECOA being reviewed by OMB; NTEU drops one lawsuit against CFPB; ABA asks federal agencies to make sure OCC upholds a national bank preemption standard.
The CFPB’s potential rescission of the LO compensation rule won’t fully exempt mortgage companies from the rule’s requirements, according to an industry attorney.