During Consumer Financial Protection Bureau (CFPB) Director Richard Cordray’s testimony before the House of Representatives Financial Services Committee last week, the director addressed the growing concern over marketing services agreements. See what he had to say about the controversial arrangements here.
After the original 21-month implementation period for the TILA-RESPA Integrated Disclosure rule, the new mortgage disclosure rules finally are going into effect. However, despite the overall 23-month preparation period, the rule still is not without controversy, mostly because people still have questions.
When a customer was purchasing a property with the help of a Realtor from RealtySouth, he was referred to the company’s title subsidiary, TitleSouth, for title insurance. However, when the customer sued, claiming that this association was in violation of RESPA’s anti-kickback provisions, he soon found that the court was not on his side. See more here.
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