Links in “Real Estate Settlement Procedures Act (RESPA/Regulation X)”
- Notes on CFPB’s TILA/RESPA Integrated Disclosures Webinar
A look at the key points that came out of the first in a series of CFPB webinars on the integrated disclosure rules for Truth in Lending and Real Estate Settlement Procedures Acts. [6/20/14]
- What Could Bring the CFPB to Your Door
More details on the consent order between the CFPB and a New Jersey title service for RESPA violations, including how, in a growing number of instances, these actions are not initiated by the CFPB, but referred to the CFPB from other agencies. [6/17/14]
- CFPB Hits NJ Title Company for RESPA Violations
HUD tips off the CFPB into Stonebridge Title Services of New Jersey practice of paying commissions to third parties in exchange for title business referrals. RESPA permits commissions for referrals only to employees of the company. [6/16/14]
- CFPB Takes the Reins
HUD has published a final rule which removes its regulations previously authorized under the Real Estate Settlement Procedures Act of 1974 (RESPA), the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE Act), and the Interstate Land Sales Full Disclosure Act (ILSFDA). Responsibility for administration of these statutes, including authority to issue regulations, was transferred to the Consumer Financial Protection Bureau (CFPB) pursuant to title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). [6/16/14]
- CFPB Kicks Kickbacks to the Curb
The CFPB ordered a New Jersey company to pay $30,000 for paying illegal kickbacks for referrals. Stonebridge, the company charged with violating RESPA, has allegedly paid more than 20 independent salespeople commission for bringing additional business to the company. The CFPB commented that efforts will continue to be made to protect consumers and to enforce RESPA's provisions will continue. [6/13/14]
- A Look at the Scope of TILA/RESPA
Which CUs and mortgage loans are covered by the integrated mortgage rules? [6/2]
- RealtySouth: Formula for a Big RESPA Violation
Here's what RealtySouth did that landed them a $500K penalty for RESPA violations. [5/30]
- Resources for TILA/RESPA Integrated Disclosure Forms
Need a little help processing the pending changes to the Truth in Lending Act and Real Estate Settlement Procedures Act integrated disclosure forms? Here are some resources. (Also see our video on the subject, Risk Watch 9.) [4/23]
- Risk Watch Episode 8: Integrated Mortgage Disclosures
AffirmX's Senior Analyst Coppelia Padgett takes us on a brief tour of the TILA and RESPA integrated loan disclosures and suggests what institutions should do now to prepare for the August 1, 2015 implementation. [4/10]
- CFPB Issues Integrated TILA-RESPA Compliance Guide
New 89-page guide provides timing, steps to compliance, new form guidance on Loan Estimate Form and Closing Disclosure Form, Q&As on key sections of both forms, required and prohibited practices, and Escrow disclosure. [4/2]
