On May 24 the D.C. Circuit Court of Appeals heard oral arguments for the en banc hearing for PHH Corp. v. CFPB, a case that has been pivotal to RESPA attorneys, compliance officers, practically anyone working within the settlement services industry.
Where are we in terms of RESPA Section 8 in light of the most recent developments in PHH Corp.? What are the practical impacts of Section 8(c)(2)?
Also, where does the industry now stand with the Consumer Financial Protection Bureau?
These are just a handful of questions that Ken Markison, vice president, and regulatory counsel at the Mortgage Bankers Association, and Loretta Salzano, founding partner of Franzén and Salzano, P.C., will be tackling at October Research LLC’s 2017 National Settlement Services Summit (NS3) in San Antonio, June 7-9.
Their presentation – “Has PHH changed RESPA compliance?” – will be held June 9.
“Based on what we hear from the oral arguments, we’ll make some predictions on what we think the court will do,” Salzano said. “The last time the parties made their oral arguments, both the questions and the tone were very helpful in allowing us to predict where the court was going, and I think it will probably be similar this time.”
Salzano added that she will talk about marketing services agreements (MSAs), desk rental agreements, co-marketing on third-party platforms and normal promotional and educational activities, such as sponsorships.
“Attendees are going to get a lot of practical takeaways on how they can work with referral sources to increase their market share,” Salzano said. “What we’ll talk about is how [the PHH case] impacts the way that they market themselves and work with referral partners and the risk of different initiatives based upon what the CFPB is doing and what may happen as a result of the PHH case.
“Because many of the things that they do – like MSAs, leases, desk rentals, co-marketing, sponsorship – all hang in the balance.”
One thing that is certain regarding PHH Corp. is that there will be no shortage of meaty topics to discuss, and a discussion is exactly what Salzano would like to have with NS3 attendees.
If you plan to attend the presentation, Salzano said, bring your questions. If you’d like to submit your questions beforehand, please feel free to submit them in the Comments section below.
For more information on the 2017 NS3, including the agenda and a list of speakers, click here. You can register for NS3 online or click here to get information on how to register via mail, fax or phone. For sponsorship opportunities, email [email protected].