In its June 2019 Consumer Compliance Supervisory Highlights the FDIC put the spotlight on RESPA Section 8 violations, and it would be prudent for anyone involved in payments for lead generation or in marketing or lease arrangements with referral sources…

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In a recent ruling, the Alabama Supreme Court held that a mechanic’s lien could have priority over a recorded future advance mortgage, even though the recording of the mortgage pre-dated commencement of the contractor’s work. In brief summary, the borrower…

Are you complying with Georgia’s minimum wage law? Georgia’s minimum wage law requires employers to pay covered employees a minimum wage of not less than $5.15 for each hour worked. There is an exception for employers and employees subject to…

Last year, the South Carolina Board of Financial Institutions, Consumer Finance Division issued guidance on the attorney-insurance preference disclosure. Creditors need to beware that the Department is “on the prowl” looking to enforce the requirement! For consumer purpose mortgage loans,…

Georgia licensees and registrants are required to provide to each applicant a foreclosure disclosure which explains that failure to meet conditions and terms of the loan may result in foreclosure. Georgia regulations provide that this disclosure requirement may be satisfied…

Court Rules in Favor of Mulvaney at CFPB The U.S. District Court for the District of Columbia denied a preliminary injunction for Leandra English in her attempt to unseat President Trump’s OMB Director Mick Mulvaney as CFPB Acting Director. The…

RESPA Do’s and Don’ts The National Association of Realtors released its RESPA Do’s and Don’ts for Co-Marketing, Social Media, & Other Web-Based Marketing Tools. Real estate brokers and agents are subject to the Real Estate Settlement Procedures Act (RESPA) when…

CFPB Issues Final TRID Rule Amendments The CFPB has issued the final revisions to the TRID rule, along with a new proposal to address the black hole. Required for applications received on or after October 1, 2018, the new rule…

CFPB issues Arbitration Rule The CFPB has issued its final rule regarding the use of pre-dispute arbitration agreements in connection with certain consumer financial products and services. Generally, the rule prohibits arbitration clauses from barring a consumer from filing or…