News By Edition

The Federal Financial Institutions Examination Council has reappointed Melanie Hall to its State Liaison Committee. Hall’s reappointment for her second full two-year term began May 1 and will continue through April 30, 2024.

Congress is moving forward with the next annual government funding bill, and Department of Housing and Urban Development Secretary Marcia Fudge recently testified about the proposal in two hearings.

For the first time, the National Settlement Services Summit (NS3) will feature collaborative workshops to help those in the title industry develop plans to attract talented employees, prevent wire fraud, improve their marketing strategy and increase diversity in their offices. The 18^th annual NS3 is being held June 1-3 at the Omni Orlando Resort at ChampionsGate in Orlando, Fla. The Collaborative Workshops track will take place Thursday, June 2.

The Department of Housing and Urban Development (HUD) Office of Fair Housing and Equal Opportunity has released new guidance to reinforce requirements that HUD-subsidized multifamily housing’s marketing and application processes be designed to be inclusive of persons of all races and national origins.

An Ohio borrower accused her servicer of erroneously increasing her monthly escrow fees and then failing to respond to her notice of errors to remedy the issue. The borrower alleged she suffered financial and emotional damages from the alleged RESPA and TILA violations. The servicer argued it did not cause the plaintiff’s alleged injuries.

The Department of Housing and Urban Development announced $20 million in new grants for its Eviction Protection Grant Program, doubling the amount originally allocated when the program was launched in November.

Pending home sales dropped in March, signifying five straight months that contract activity has declined, according to the National Association of Realtors. Month-over-month, only the Northeast saw an increase in contract signings, while the three other major U.S. regions experienced declines in transactions. All four regions reported decreases in year-over-year contract activity.

A federal judge has dismissed a counterclaim filed by the National Association of Realtors (NAR) against a real estate technology company. NAR argued REX has harmed the trade group with allegedly false claims that REX offers low commissions and has superior technology, that NAR has artificially inflated commissions and hindered the development of technology for home listings, and that NAR has engaged in unlawful or unfair conduct.

The number of Realtors involved with buying or selling properties with green features has significantly increased in the past year, according to a recent study from the National Association of Realtors (NAR).

The 2022 Realtors and Sustainability Report surveyed NAR members nationwide regarding sustainability issues currently facing the real estate industry.

The industry is constantly dealing with a variety of compliance issues, from RESPA compliance and state regulations to ways to securely transfer funds. During the National Settlement Services Summit (NS3), June 1-3 at the Omni Orlando Resort at ChampionsGate in Orlando, Fla., attendees will hear from speakers on these topics and more.

The Department of Housing and Urban Development has accused the developers and owners of an 84-unit apartment complex in St. Louis with failing to design and construct the complex’s covered dwellings and public areas so they are accessible to people with disabilities.

Former Atlanta Mayor Keisha Lance Bottoms and Ja’Ron Smith, former adviser to President Donald Trump, brought their insight and expertise on fair housing issues to the Federal Legislative and Political Forum at the 2022 Realtors Legislative Meetings in National Harbor, Md. The pair gave a behind-the-scenes take on the current political environment from their experiences in government.

In our executive interview series, RESPRO President and Executive Director Ken Trepeta discusses fair lending/fair servicing issues, Consumer Financial Protection Bureau Rohit Chopra’s so-called “Equity Agenda,” the Equal Credit Opportunity Act and the Community Reinvestment Act, and more. Watch for Trepeta’s expert analysis.

A Chester, Va., man alleged his servicer violated TRID throughout a 2016 foreclosure on his property. The borrower claimed the servicer failed to properly review and process his loss-mitigation application, charged him excess fees without explanation and failed to credit him surplus proceeds from the foreclosure sale. The servicer argued the borrower’s claims are time barred. Read on to see how a judge ruled.

A Virginia man claimed his servicer violated RESPA by not properly responding to his request for information (RFI) on his mortgage loan while he served a jail sentence. In its motion to dismiss, the servicer argued it had no duty to respond because the letter was a “request for leniency” – not a true RFI. Read on to see how the court ruled.

The Department of Housing and Urban Development (HUD) has signed a conciliation agreement with Bank of America, N.A., and one of its loan officers to resolve allegations of familial status and sex discrimination. The bank and Loan Officer Hung Tran refused to approve a residential mortgage for a couple until after one of the applicants returned to work from maternity leave, according to HUD.

The Department of Housing and Urban Development (HUD) has released its first Equity Action Plan.  “Equity is central to HUD’s founding principles and the daily work we do as a department,” HUD Secretary Marcia Fudge said. “We are excited to take this opportunity to join the rest of the federal government in emphasizing our commitment to making equity a leading compass within this administration.”

At the 2022 National Settlement Services Summit (NS3), taking place June 1-3 in Orlando, Fla., several sessions will examine the cutting edge of innovations in the title space, including with cryptocurrency, remote online notarization (RON) and cybersecurity. Other sessions cover the latest in cash-offer programs, sales techniques and how to future-proof your business.

A Georgia man accused his servicer of charging him forced-placed hazard insurance fees even though he had his own coverage. The servicer argued it had a reasonable basis for obtaining force-placed insurance on the borrower’s property. Read on for the latest in the case.

The Department of Housing and Urban Development has entered into a voluntary compliance agreement with JCL Management, LLC and Pilot Cove Manor Housing Development Fund Company, Inc., resolving a compliance review concerning non-discrimination in marketing and tenanting procedures.

The Consumer Financial Protection Bureau recently submitted its annual report to Congress on the Fair Debt Collection Practices Act. The report found some supervised debt collection entities have reported an increase in consumer contacts and payments. Several of these entities attributed the increased performance to more consumers being at home, reduced spending and increased liquidity provided by pandemic-assistance programs.