This past week, the real estate industry was rocked again by the latest development in the epic court battle between PHH Corporation and the Consumer Financial Protection Bureau. Many observers predict that the U.S. Supreme Court will weigh in on the matter. When I consulted my Magic Eight Ball about that, it responded, “Very Doubtful.”
Continue Reading

The impact of a long-awaited court ruling involving PHH Corporation is still reverberating throughout the real estate industry. The decision could radically change the way the Consumer Financial Protection Bureau (CFPB) enforces the Real Estate Settlement Procedures Act (RESPA). Because the opinion is so potentially far reaching, we will discuss it in two separate posts. In this first one, we will consider what it means for the CFPB to be unconstitutional.
Continue Reading

The most common class-action battle in the real estate industry today deals with so-called force-placed insurance, which mortgage lenders buy when a borrower wrongly lets her homeowner’s coverage lapse. Courts around the country have come to varying conclusions about the viability of those cases. Two recent decisions add to the tally of opinions favoring consumers.
Continue Reading