NEW HUD Booklet for Immediate Use to Comply with RESPA

On January 5, 2010, the U.S. Department of Housing and Urban Development (HUD) published in the Federal Register a notice announcing the availability on its Web site of the revised special information booklet required by the Real Estate Settlement Procedures Act (RESPA) to be given to homebuyers applying...

NEW HUD Booklet for Immediate Use to Comply with RESPA

On January 5, 2010, the U.S. Department of Housing and Urban Development (HUD) published in the Federal Register a notice announcing the availability on its Web site of the revised special information booklet required by the Real Estate Settlement Procedures Act (RESPA) to be given to homebuyers applying...

Robert M. Jaworski on RESPA: Spring Is in the Air -- An Assessment of the New Year's Day 2010 GFE/HUD-1 Rules Changes

In this Analysis, Robert M. Jaworski examines the important Real Estate Settlement Procedures Act (RESPA) changes implementing the new Good Faith Estimate (GFE) and HUD-1/1A effective January 1, 2010. Mr. Jaworski provides a recap of the new rules, identifies important implementation issues, and...

Robert M. Jaworski on RESPA: Spring Is in the Air -- An Assessment of the New Year's Day 2010 GFE/HUD-1 Rules Changes

In this Analysis, Robert M. Jaworski examines the important Real Estate Settlement Procedures Act (RESPA) changes implementing the new Good Faith Estimate (GFE) and HUD-1/1A effective January 1, 2010. Mr. Jaworski provides a recap of the new rules, identifies important implementation issues, and...

Jaworski on the Mortgage Reform and Anti-Predatory Lending Act

In this Analysis, Robert M. Jaworski examines the Mortgage Reform and Anti-Predatory Lending Act (MRAPLA) (in Dodd-Frank Act) , including the significant changes that it makes to the Truth in Lending Act (TILA) (e.g., incentives for qualified mortgages, anti-steering prohibitions, defenses to foreclosure...

Jaworski on the Mortgage Reform and Anti-Predatory Lending Act

In this Analysis, Robert M. Jaworski examines the Mortgage Reform and Anti-Predatory Lending Act (MRAPLA) (in Dodd-Frank Act) , including the significant changes that it makes to the Truth in Lending Act (TILA) (e.g., incentives for qualified mortgages, anti-steering prohibitions, defenses to foreclosure...

Back to the Future for Home Loans - Title XIV of Dodd Frank Act - The Mortgage Reform and Anti-Predatory Lending Act (MRAPLA)

In this Analysis, Robert M. Jaworski examines the Mortgage Reform and Anti-Predatory Lending Act (MRAPLA) (in Dodd-Frank Act) , including the significant changes that it makes to the Truth in Lending Act (TILA) (e.g., incentives for qualified mortgages, anti-steering prohibitions, defenses to foreclosure...

BuckleySandler LLP: Ninth Circuit Holds RESPA Does Not Apply to Loans Used to Purchase Rental Properties

Excerpted from Infobytes , a weekly electronic newsletter on developments in financial services law from BuckleySandler LLP . For the full issue of Infobytes , click here: http://www.buckleysandler.com/infobytes/issues/infobytes_march_4_2011/ On February 15, the U.S. Court of Appeals for the...

The Latest Wave In The Foreclosure Crisis? Another Bank Branch Foreclosed Upon By Borrower

Several weeks ago, we brought you the story of a Philadelphia man who foreclosed on his local Wells Fargo branch (" Turning The Tables: Philadelphia Man Forecloses On Wells Fargo Branch ") after the bank failed to pay a judgment the man obtained against the bank for violating the Real Estate...

High Court Agrees To Address Standing Issue In Lawsuit Against Title Insurer

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 20 decided that it would review a Ninth Circuit U.S. Court of Appeals ruling that a woman had standing to bring a suit against her title insurer for alleged violations of the Real Estate Settlement Procedures Act (RESPA) ( First American...

U.S. High Court Seeks Solicitor General's Comments On Bankruptcy Conflict

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 20 asked the U.S. solicitor general for comment on a bankruptcy case in which the Bankruptcy Code and the Real Estate Settlement Procedures Act (RESPA) are in conflict as it relates to a lender's right to require debtors to deposit...

Supreme Court Wants Solicitor General Comments On Bankruptcy Conflict

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 20 asked the U.S. solicitor general for comment on a bankruptcy case in which the Bankruptcy Code and the Real Estate Settlement Procedures Act (RESPA) are in conflict as it relates to a lender's right to require debtors to deposit...

BuckleySandler LLP: HUD Settles Two RESPA Referral Fee Cases

Excerpted from Infobytes , a weekly electronic newsletter on developments in financial services law from BuckleySandler LLP . For the full issue of Infobytes , click here: http://www.buckleysandler.com/infobytes/issues/infobytes_july_15_2011/ HUD announced two settlements with companies allegedly...

U.S. Supreme Court Agrees To Take Up Suit Over Unearned Fees For Settlement Services

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 11 agreed to review a 2-1 ruling from the Fifth Circuit U.S. Court of Appeals finding that Quicken Loans Inc. did not violate the Real Estate Settlement Procedures Act (RESPA) when it charged unearned fees for settlement services ( Tammy...

U.S. Supreme Court Agrees to Take Up Suit over Unearned Fees for Settlement Services

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on October 11th agreed to review a 2-1 ruling from the Fifth Circuit U.S. Court of Appeals finding that Quicken Loans Inc. did not violate the Real Estate Settlement Procedures Act (RESPA) when it charged unearned fees for settlement services...

Ballard Spahr LLP: U.S. Supreme Court to Decide If RESPA Unearned Fee Prohibition Requires Fee Split

By the Consumer Financial Services Group The U.S. Supreme Court has agreed to hear a case that will decide whether the Real Estate Settlement Procedures Act (RESPA), which is directed at residential mortgage lending, prohibits a real estate settlement service provider from charging an unearned...

U.S. Supreme Court Denies Certiorari In Bankruptcy Escrow Case

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Nov. 14 declined to hear a bankruptcy case in which a lender had contended that it did not violate the automatic stay in bankruptcy when it exercised its rights under the Real Estate Settlement Procedures Act and reanalyzed a debtor couple's...

Supreme Court Hears Arguments On Whether RESPA Violation Is An Injury In Fact

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court heard arguments yesterday on whether a property owner suffered an injury in fact under the Real Estate Settlement Procedures Act (RESPA) when she bought title insurance from a company that allegedly paid kickbacks to get business from title insurance...

Supreme Court Hears Arguments On Whether RESPA Violation Is An Injury In Fact

WASHINGTON, D.C. -- The U.S. Supreme Court heard arguments on Nov. 28 on whether a property owner suffered an injury in fact under the Real Estate Settlement Procedures Act (RESPA) when she bought title insurance from a company that allegedly paid kickbacks to get business from title insurance agents...

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...

Fulbright Alert: Section 8(B) Of RESPA Requires 'Split' Of A Fee Between 2 Or More Persons

The United States Supreme Court issued a significant opinion for the residential mortgage industry in Freeman v. Quicken Loans, Inc. , No. 10-1042 (May 24, 2012). The Supreme Court ruled that to recover under Section 8(b) of the Real Estate Settlement Procedures Act (RESPA) for an allegedly unearned...

Ballard Spahr LLP: CFPB Follows Script in Issuing Servicing Rules

By Michael S. Waldron The Consumer Financial Protection Bureau took the much-anticipated next step in its high-profile initiative to transform mortgage servicing last Friday when it issued proposed mortgage servicing regulations. The proposals consist of a 250-page Real Estate Settlement Procedures...

U.S. Supreme Court Refuses To Review Ruling Upholding Dismissal Of RESPA Suit

WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on Oct. 1 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: CFPB Issues Guidance on Mortgage Servicing Transfers

by the Mortgage Banking Group The Consumer Financial Protection Bureau has issued guidance warning residential mortgage servicers and subservicers that CFPB examiners will be looking carefully at their compliance with federal law and focusing on specific areas related to servicing transfers. Bulletin...

Duane Morris LLP: Pa. Superior Court Confirms Statutory Right of Repose for Improvements to Real Estate in Asbestos Cases

The Pennsylvania Superior Court reversed a jury verdict in favor of plaintiffs in an asbestos mesothelioma case, finding that the 12-year statute of repose bars all claims related to improvements constructed on real estate brought beyond the statutory period pursuant to 42 Pa. Cons. Stat. Ann. §...