PCNimage One of the important limitations in the Real Estate Settlement Procedures Act is the short time in which consumers can sue for violations of its protections: one year. But a new decision from a Pennsylvania federal court threatens to extend that period much longer—perhaps indefinitely. Continue Reading Federal Court Breathes Life Into Nearly Dead RESPA Case

CFPB LogoThe impact of the Consumer Financial Protection Bureau’s recent crackdown on Prospect Mortgage, LLC, continues to reverberate throughout the real estate industry. Through that crackdown the bureau offers clues about how it intends to regulate in a Trump administration—and it’s not pretty. Continue Reading CFPB Enforcement Actions Presage Bureau’s Post-Obama Approach

Prospect_Mortgage_LogoFor the past several years, Prospect Mortgage, LLC, has weathered a blast furnace of regulatory heat due to its aggressive marketing efforts, which some have called kickbacks. Last week, the company entered into a consent order with the Consumer Financial Protection Bureau that serves as a useful guide for other real estate businesses. Continue Reading Sifting Through Ashes of CFPB Enforcement Action Yields Valuable Lessons

tugofwarThe last 30 years have ushered in a significant increase in brokers’ dual agency, in which a real estate agent is the agent of both the seller and the buyer. Despite that seeming industry familiarity, unanticipated difficulties can still arise, as a recent decision by the California Supreme Court illustrates. Continue Reading California Supreme Court Inflames Broker Loyalty Problems

FannieMaeIn a recent national class action, hundreds of home-mortgage borrowers have accused the Federal National Mortgage Association of unlawfully rigging their interest rates. The lawsuit offers a glimpse into the business practices and mindset of one of the country’s largest government sponsored enterprises. Continue Reading Fannie Mae Finds Itself in Cross-Hairs of Class Action