PHH Corporation to Appellate Court: Blow Up the CFPB

explosionThe much-anticipated rematch between PHH Corporation and the Consumer Financial Protection Bureau has begun. Last week, PHH filed its opening legal brief, in which it seeks invalidation of the entire CFPB. Boldness aside, that outcome is unlikely. For those who do not follow the activities of the CFPB, the case is a rehearing of an earlier decision by the United States Court of Appeals for the District of Columbia Circuit. View Full Post
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Mortgage Servicers Face Additional RESPA Hurdles

hurdleMost headlines about the Real Estate Settlement Procedures Act discuss unlawful kickbacks. But that law also imposes requirements on mortgage servicers. A recent class-action settlement against Ocwen Loan Servicing shows the dangers of non-compliance. In the case, Messineo v. Ocwen Loan Servicing, a borrower alleged that he routinely paid extra on his home mortgage and that Ocwen botched the processing of his payments. View Full Post
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