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Volume 29 - Number 12

June 11, 2018

CFPB Officially Drops RESPA Kickback Case Against PHH

The CFPB last week dismissed its precedent-setting case against PHH Corp., officially overturning the bureauís controversial interpretation of the Real Estate Settlement Procedures Act under former Director Richard Cordray. In the end, the four-year legal battle over alleged RESPA violations regarding captive reinsurance arrangements ended up with no fine or penalty being assessed on the mortgage lender. The final court ruling that upheld the constitutionality ...

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Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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