Zillow securities fraud lawsuit dismissed

In dismissing the suit, Judge John Coughenour left the option of the plaintiffs to file a revised complaint within 45 days.

Fair Lending policy director faces accusations of racism in blog post

A high-ranking policy director at the Consumer Financial Protection Bureau (CFPB) responsible for overseeing fair lending practices is under fire for a racially charged blog post.

Cryptocurrency, Cyber Fraud Focus of Trump Task Force

On an executive order by President Trump, four agencies established the Task Force on Market Integrity and Consumer Fraud last week, charged with guiding “the investigation and prosecution of cases involving fraud on the government, the financial markets and consumers, including cyber fraud and other fraud targeting the elderly, service members and veterans, and other […]

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How would a more conservative Supreme Court impact real estate?

The Supreme Court of the United States could have a more conservative makeup soon, and while it’s purely an exercise in speculation at this point, it could likely be a mixed bag for the real estate industry and consumers.

Zillow cleared in kickback probe

The CFPB ended its investigation into whether Zillow violated an anti-kickback law with a co-marketing program for agents and lenders.

Regulatory Relief Bill Passes Congress – Is Mortgage Lending Freedom Ahead?

Change is coming to the mortgage industry in the form of lessened restrictions for many community banks, along with greater consumer protections. The Economic Growth, Regulatory Relief and Consumer Protection Act—a bill rolls back many Dodd-Frank Wall Street Reform and Consumer Protection Act regulations imposed in 2008 following the financial crisis—has been signed into law. […]

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Wells Fargo Fined $1 Billion for Abusive Insurance, Mortgage Practices

The government has handed down a $1 billion penalty to Wells Fargo for abusive consumer practices related to its administering of auto insurance and extensions on mortgage rate locks. In addition to the fine, the bank has been ordered to remediate affected consumers and implement improved practices. In 2017, Wells Fargo acknowledged it had charged […]

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Industry Praises House Passage of TRID Improvement Bill

The housing industry is applauding the House passage of the TRID (TILA-RESPA Integrated Disclosure) Improvement Act of 2017 (H.R. 3978) that aims to correct the disclosure of title insurance premiums, which are inaccurate in the majority of states. The bill, which was made part of a larger package, was passed on Wednesday. “Although the bill […]

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The battle between the Consumer Financial Protection Bureau and PHH is over

On Wednesday, January 31, the Court of Appeals for the District of Columbia Circuit upheld the constitutionality of the Consumer Financial Protection Bureau (CFPB) ending a two-year debate over the CFPB’s power structure, which stemmed from an ongoing lawsuit between the Bureau and New Jersey-based mortgage lender PHH Mortgage Corporation over the lender’s captive reinsurance practices …