CFPB Finalizes “Know Before You Owe” Mortgage Forms

FOR IMMEDIATE RELEASE: November 20, 2013 CONTACT:     Office of Communications  – Tel: (202) 435-7170   CONSUMER FINANCIAL PROTECTION BUREAU FINALIZES “KNOW BEFORE YOU OWE” MORTGAGE FORMS New Forms Improve Consumer Understanding, Aid Comparison Shopping, and Help Prevent Surprises Washington, D.C. – The Consumer Financial Protection Bureau (CFPB) is issuing a rule today requiring easier-to-use…

CFPB files amicus brief in well-known Edwards v. First American kickback case

On Monday this week, the Consumer Financial Protection Bureau(CFPB) files amicus brief in well-known Edwards v. First American kickback case. From the CFPB website – This case concerns the types of evidence a private plaintiff needs to put forward to demonstrate that a defendant paid for a referral in violation of the Real Estate Settlement Procedures Act…

CFPB FILES suit against BORDERS & BORDERS, PLC – Illegal Kickbacks

  FOR IMMEDIATE RELEASE: October 24, 2013 CONTACT: Office of Communications Tel: (202) 435-7170   CONSUMER FINANCIAL PROTECTION BUREAU FILES SUIT AGAINST BORDERS & BORDERS, PLC FOR PAYING ILLEGAL REAL ESTATE KICKBACKS Company Funneled Kickbacks Through Network of Shell Companies   WASHINGTON, D.C. — The Consumer Financial Protection Bureau today filed a lawsuit in federal district court…

Consumers Remain Wary of Controlled Business

Earlier this year, the National Association of Independent Land Title Agents (NAILTA) commissioned the first ever public study of American real estate settlement consumer preferences.  Known as the NAILTA SPS, the survey was given to real estate consumers at the time of their closing through a simple-to-complete five question process. The goals of the survey were simple. Discover whether American…

H.R. 1077 is Dead; Replaced with H.R. 3211

Never underestimate a determined opponent. On September 28, 2013, shortly before Congress shut down, a bipartisan group of representatives from the House Financial Services Committee introduced a RESPRO-sponsored piece of legislation known as H.R. 3211, the Mortgage Choice Act. Instead of proceeding on H.R. 1077, known as the Consumer Mortgage Choice Act, the new bill strips…

Proud to Introduce the Arkansas Association of Independent Land Title Agents (AAILTA)

We are proud to announce that Arkansas independent land title agents have formed the Arkansas Association of Independent Land Title Agents (AAILTA) in affiliation with the National Association of Independent Land Title Agents (NAILTA).  Click here for their website. The newly-formed organization is now taking membership applications from interested members. If you are interested in finding…

Possible Fidelity/LPS Merger: Bad for Independent Title Agents, Bad for Consumers.

A proposed merger of the world’s largest title insurance underwriter, Fidelity National Financial (parent of Fidelity Title, Chicago Title, Lawyers Title and Commonwealth Title), and the country’s largest mortgage servicer, Lender Processing Services, is readying to close soon. The deal would merge the two giants into a “cradle-to-grave” mortgage services platform enabling the largest lenders…