High Court: Plaintiffs Must Show That Parties Split Fees To Pursue RESPA Claim

WASHINGTON, D.C. - (Mealey's) A unanimous U.S. Supreme Court on May 24 upheld a Fifth Circuit U.S. Court of Appeals majority decision to award summary judgment to Quicken Loans Inc. after finding that plaintiffs must show that parties split fees from settlement services in order to pursue a claim...

Ballard Spahr LLP: Fee Split Required for RESPA Violation, U.S. Supreme Court Rules

By members of the Consumer Financial Services Group In a unanimous decision, the U.S. Supreme Court ruled today [May 24th] that to establish a violation of Section 8(b) of the Real Estate Settlement Procedures Act (RESPA), a plaintiff must show that a charge for a real estate settlement service was...

Troutman Sanders LLP: Supreme Court Limits Scope of Liability for Real Estate Settlement Service Charges under RESPA

By David N. Anthony and Nicholas R. Klaiber A May 24, 2012, decision of the United States Supreme Court clarifies the potential scope of liability for entities providing real estate settlement services under the Real Estate Settlement Procedures Act (RESPA). In Freeman v. Quicken Loans, Inc. , No...

U.S. Supreme Court Dismisses Appeal Over Plaintiff’s Standing In Kickback Lawsuit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court today dismissed an appeal of a Ninth Circuit U.S. Court of Appeals ruling [ enhanced version available to lexis.com subscribers ] that affirmed a plaintiff's right to sue banks and title insurance companies accused of paying kickbacks for fees...

Ballard Spahr LLP: Supreme Court Punts on Rendering Decision in Important Standing Case

By the Consumer Financial Services Group In an anti-climactic conclusion to a closely-watched case, the Supreme Court has dismissed the appeal in First American Financial Corp. v. Edwards [610 F.3d 514 (9th Cir. Cal. 2010) enhanced version available to lexis.com subscribers ]. In a one-sentence...

Ballard Spahr LLP: CFPB Proposes Integrated TILA-RESPA Forms and Related Rules

By Richard A. Andreano, Jr. , and Stanley D. Mabbitt Elizabeth Warren's dream of a one-page mortgage disclosure form is officially dead. On July 9, 2012, the CFPB released its long-awaited proposed rule consolidating the application and closing disclosures required by the Real Estate Settlement...

Ballard Spahr LLP: CFPB Moves to Broaden Scope of ‘High-Cost’ Mortgages

By Mercedes Kelley Tunstall The Consumer Financial Protection Bureau is moving to broaden the scope of mortgages that would be viewed as "high cost" and therefore subject to special disclosure requirements. In a notice of proposed rulemaking issued on July 9, 2012, the CFPB proposed amendments...

Williams Mullen: Proposed Rules Published on Dodd-Frank Requirements for HOEPA Loans

On August 15, 2012, the Bureau of Consumer Financial Protection (the "Bureau") issued a proposed rule and request for public comment on changes to its Regulation Z (Truth in Lending) and Regulation X (Real Estate Settlement Procedures Act) to implement the requirements of the Dodd-Frank Wall...

High Court Refuses To Review Ruling Upholding Dismissal Of RESPA Suit

WASHINGTON, D.C. - ( Mealey's ) The U.S. Supreme Court today denied a couple's petition for a writ of certiorari seeking review of a Fifth Circuit U.S. Court of Appeals ruling that affirmed the dismissal of their suit accusing a loan servicer of violating the Real Estate Settlement Procedures...

Ballard Spahr LLP: Temporary Exemptions Adopted for Mortgage Disclosures

By the Mortgage Banking Group As expected, on November 16, 2012, the Consumer Financial Protection Bureau adopted a temporary exemption for certain mortgage disclosure requirements added by the Dodd-Frank Act. This exemption will allow the disclosures to be implemented along with the proposal to integrate...