09-12-2023 CFPB Issues RESPA Consent Orders over Event Tickets, MSAs, And Online Subscriptions with Mitch Kider of Weiner Brodsky Kider PC

The Consumer Financial Protection Bureau (CFPB), an agency of the United States government responsible for safeguarding consumers in the financial sector, has recently turned its focus towards scrutinizing potential violations of the Real Estate Settlement Procedures Act (RESPA). The bureau has issued a series of consent orders against several mortgage and real estate companies for practices linked to event tickets and Marketing Services Agreements (MSAs), which have raised concerns of unfair practices and potential conflicts of interest. Mortgage and real estate companies should take this opportunity to review and update their compliance protocols to avoid falling foul of the law. As the regulatory landscape continues to evolve, adherence to RESPA’s provisions will be critical in fostering a fair and transparent real estate market that serves the best interests of consumers. Today, we have Mitch Kider of Weiner, Brodsky Kider PC on what the mortgage industry should be aware of.