Comprehensive reforms are necessary to modernize Section 8 of the Real Estate Settlement Procedures Act (RESPA) to better serve consumers and the real estate finance industry in today’s highly-regulated mortgage market. That is according to a new white paper from the Mortgage Bankers Association.
Tag: Real Estate Settlement Procedures Act

CFPB Issues Guidance on ‘Pay to Play’ Digital Comparison-Shopping Platforms
The Consumer Financial Protection Bureau on Tuesday issued an advisory opinion aimed at digital mortgage comparison-shopping platforms.

CFPB Rescinds RESPA Section 8 Compliance Bulletin
In another victory for Mortgage Bankers Association member advocacy, the Consumer Financial Protection Bureau on Oct. 7 rescinded a controversial Compliance Bulletin on prohibition of kickbacks and referral fees under the Real Estate Settlement Procedures Act.

MBA, Trade Groups Raise Concerns over TRID Brokered Transactions
The Mortgage Bankers Association, in a letter last week to the Consumer Financial Protection Bureau, said as the Bureau assesses the effectiveness of its TRID Integrated Disclosure Rule it should reconsider provisions of the rule regarding wholesale creditors and brokered transactions.