Litigating Claims under the Real Estate Settlement Procedures Act and Regulation X

Summary

In response to the meltdown of the U.S. Housing Market in 2008 and 2009, Congress enacted the Dodd Frank Wall Street Reform and Consumer Protection Act ("Dodd Frank") which, among other changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA), created the independent Consumer Financial Protection Bureau (CFPB). Under Dodd Frank, the oversight and enforcement of RESPA and TILA were transferred from the Federal Trade Commission (FTC) to the CFPB. This practice note discusses various litigation claims that arise under RESPA and provides an overview of mortgage servicing rights and claims under Regulation X.