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…

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…

Indiana Department of Insurance Wins Rate Appeal

On December 19, 2012, the Indiana Court of Appeals issued a reversal in a discriminatory rate case involving Ticor Title Insurance Company of Florida and the Indiana Department of Insurance. The case, styled Robertson, Insurance Commissioner of the State of Indiana v. Ticor Title Insurance Company of Florida, Case No. 49A02-1110-PL-971, upholds the previous administrative order…

Help Stop Referral Sources from Exempting AfBAs Under Dodd-Frank

The referral source lobby is making a last minute attempt to try to amend Dodd-Frank to exempt “affiliates” or controlled business arrangements from the 3% cap rule under Dodd-Frank.  Legislation which exempts affiliated business from certain provisions in the Dodd-Frank Act regarding Qualified Residential Mortgages may be considered in Congress before the end of the…

The Edwards Decision

06-28-2012 Yesterday, the United States Supreme Court (“SCOTUS”) issued its long-awaited decision in the Edwards v. First American Title case.  The Court, in a 9-0 decision, dismissed First American’s appeal as having been improvidently granted. Procedurally, the decision results in the case returning to the U.S. District Court in California where a class action complaint consisting of two…

MA Supreme Court Decides UPL Case

The Massachusetts Supreme Court has ruled in a closely-watched lawsuit regarding the role of real estate settlement professionals that attorneys must “substantially participate” in home closings.  Click above for more details. The Real Estate Bar Association (REBA) brought suit against National Real Estate Information Services (NREIS) in November 2006.  REBA alleged that “certain business activities of…