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Home » Store » RESPA » CFPB Throws Down the Gauntlet on Marketing Service Agreements; Lenders and Others Abandoning Programs

CFPB Throws Down the Gauntlet on Marketing Service Agreements; Lenders and Others Abandoning Programs

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RESPA

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The Consumer Financial Protection Bureau appears to have declared war on several decades’ worth of business practices as it encourages lenders and real estate service providers to end their “marketing service agreements” with each other. Moreover, according to industry officials, the CFPB is just getting started on its crackdown as it tries to eliminate both legal and under-the-table business arrangements where a lender – in theory – provides something of value to vendors that it’s conducting business with. The first sign that the mortgage industry is concerned...
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