Articles on “RESPA”

RESPA DOES NOT PROHIBIT UNEARNED FEES CHARGED BY A SINGLE SETTLEMENT SERVICE PROVIDER

Monday, June 4th, 2012

The Supreme Court of the United States held that a lender who charges consumers an unearned fee does NOT violate RESPA §2607(b), unless the fee was given and accepted between two or more persons.  It does not bar unearned fees charged by a single service provider.  Freeman v. Quicken Loans, 566 U.S.(2012)

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HOME MORTGAGE LENDER MAY BE LIABLE TO BORROWER FOR MARK-UP OF LOAN TRANSACTION COSTS

Saturday, June 26th, 2010

The California Court of Appeal for the Second District ruled that when home mortgage lenders charged borrowers a marked-up price for the cost of services provided by others, such as underwriting services, tax services and wire transfer fees, then the lenders can be liable for violations of state and federal statutory protections. McKell v. Washington Mutual Inc.  142 Cal.App. 4th 1457 (2006).

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