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Volume 29 - Number 7

April 2, 2018

CFPB is Denied Reconsideration in Another RESPA Case

After losing ground in a Real Estate Settlement Procedures Act interpretation in the PHH case, the CFPB lost the motion for reconsideration in another RESPA case, which carries further implications for the industry, attorneys said. The U.S. District Court for the Western District of Kentucky denied the CFPB’s motion to reconsider a decision in favor of Kentucky law firm Borders & Borders over allegations it illegally paid kickbacks under the RESPA statute. The significance of the case lies in the fact ...

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Poll

Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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