These articles deal with RESPA issues and include information on transaction fees.
Court sides with PHH upholding RESPA Section 8
On Oct. 11, 2016, the U.S. Court of Appeals for the D.C. Circuit issued an opinion in the case of PHH v. CFPB. In this case, the court vacated a $109 million penalty imposed by the Consumer Financial Protection Bureau (CFPB) against PHH Corporation for allegedly violating the Real Estate Settlement Procedures Act (RESPA) by paying for referrals where there is federally related mortgage. The court held in favor of PHH, stating that payments for bona fide services provided and made at fair market value do not violate RESPA, reinforcing NAR’s support of marketing service agreements. (Oct. 24, 2016, OAR Buzz)
CFPB issues warning about marketing agreements
(Oct. 12, 2015, OAR Buzz)
Legally speaking: Will pre-qualification letters become extinct?
(Aug. 17, 2015, OAR Buzz)
Legally speaking: NAR offering resources about new RESPA/TILA rules
(May 6, 2015, OAR Buzz)
NAR broadcast on changes to RESPA and the Truth in Lending Act available
(March 20, 2015, OAR Buzz)
RESPA violations result in hefty penalty
(July 24, 2014, OAR Buzz)
Avoiding RESPA violations when working with lenders & title companies
(Jan. 13, 2014, OAR Buzz)
Who picks the title company?
(April 10, 2013, OAR Buzz)
May 25, 2012 — The U.S. Supreme Court issued an opinion that should effectively end the litigation filed against two Ohio brokerages challenging the legality of administrative fees they charge.
- Busby Case Stayed, Pending U.S. Supreme Court Decision (EC: Jan. 2012)
- Court Issues Ruling in Ohio RESPA Case (OR: Oct. 2011)
- Keeping It Legal: RESPA…Transaction Fees and Home Warranty Rule
- Home warranty companies begin to suspend payments to brokers (OR: October 2010)
- Third lawsuit filed in Ohio challenging transaction fees (OR: April 2010)
- RESPA requires Good Faith Estimate and new HUD-1 Settlement Statement (OR: Dec. 2009)
- RESPA rule provides new GFE and HUD-1 (OR: Jan. 2009)
- Brokers can list REO’s on confirmation of sale (OR: June 2008)
FAQs on Inducements (OR: May 2008)