Jobs vs Rates; Zillow, CFPB, & RESPA in the Spotlight?

Posted To: Pipeline Press

It seems the general public is not moving. Not because they don’t way to, but because of… the influence of government regulations !? The regulatory environment Lenders took great interest when ReMax Gold Coast and Keller Williams Mid-Willamette were fined by the CFPB, along with Prospect Mortgage, LLC. The reason? Illegal kickbacks relating to mortgage business referrals. We all know that residential lenders and title companies, among others, have been fined before. But folks who pay attention to these things say that this is the first time the CFPB has fined a real estate brokerage for the RESPA violations noting, “we will hold both sides of these improper arrangements accountable for breaking the law…” Should Zillow be worried? There are some out there saying, “Yes.” Any time…(read more)

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Source: Mortgage News Daily

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