Tag Archives: Mortgage

Settlement in Mortgage Discount Points Case Highlights Risk From Claimed Inconsistency Between Representations to Consumers and Actual Practices

A recent settlement of deceptive practice allegations against Peoples Bank of Lawrence, Kansas, (Peoples) by the Board of Governors of the Federal Reserve System (Board of Governors) serves as a reminder that unfair or deceptive acts or practices (UDAP) claims may be triggered based on perceived inconsistencies between representations a consumer financial services institution makes … Continue reading this entry

The CFPB's RESPA Consent Orders: Eight Key Takeaways

Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau (CFBP) on January 31, 2017 issued consent orders settling enforcement claims that a major mortgage lender violated the Real Estate Settlement Procedures Act (RESPA) in connection with its marketing, desk rental, lead purchase and other agreements with hundreds of real estate brokers and other settlement service providers (the “Consent Orders”). … Continue reading this entry

CFPB Issues Electronic-Closing Pilot Guidelines and Seeks to Use Technology to Improve Mortgage Closing Experience

The Consumer Financial Protection Bureau (CFPB) recently announced that it is launching an electronic-closing (e-Closing) Pilot program designed to address some of the most common concerns relating to the mortgage closing process. CFPB states that electronic closing has the potential to address current challenges by shifting the closing experience toward a more paperless process and … Continue reading this entry

The Doctrine of Issue Preclusion Barred Claims Based Upon an Alleged Fraudulent Mortgage

In recent decisions, various courts have relied upon the Rooker-Feldman Doctrine to bar a consumer’s federal claims regarding the validity of his or her mortgage after the lender obtained a state court foreclosure judgment. See, e.g., Mohorne v. Beal Bank, S.S.B., 419 B.R. 488, 496-97 (S.D. Fla. 2009) (Altonaga, J.); Figueroa v. Merscorp., Inc., et al., … Continue reading this entry