CFPB’s future questioned in midst of recent RESPA enforcements

Even as the Consumer Financial Protection Bureau (CFPB) continues to fine and penalize companies that violate the Real Estate Settlement Procedures Act (RESPA), Illinois REALTORS® is monitoring the actions of the CFPB’s critics, which include some congressional leaders and the Trump administration.

In the March edition of DR Legal News, Jeffrey T. Baker, of Sorling Northrup Attorneys, reviews some of the latest developments concerning Prospect Mortgage, the PHH Corporation case, CFPB Director Richard Cordray and the Dodd-Frank Act. Prospect Mortgage was recently fined $3.5 million by CFPB for RESPA violations.

In addition to Baker’s article, the DR Legal News includes information about:

  • 7 legal case studies;
  • real estate disciplines;
  • managing broker renewals;
  • independent expenditure support;
  • customizable RVOICE brochures; and
  • Illinois REALTORS® Conference & Expo.

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