Skip to content
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Cart
  • Inside Mortgage Finance
  • MBS & ABS
  • The GSEs
  • The CFPB
  • Mortgage Trends
  • FHA/VA Lending
  • Nonconforming Markets
  • Data
    • Subscribe to Data
Home » CFPB Doubles Down on Its Arguments Against PHH, Does Not Assert All MSAs Are Inherently Unlawful
Looking to read the full article? Register for free access to IMFnews content today!

CFPB Doubles Down on Its Arguments Against PHH, Does Not Assert All MSAs Are Inherently Unlawful

November 12, 2015
The legal table is set for a potentially pivotal court ruling on the mortgage industry’s use of marketing services agreements under the Real Estate Settlement Procedures Act, now that the Consumer Financial Protection Bureau submitted its “reply” brief with the U.S. Court of Appeals for the District of Columbia in the agency’s dispute with PHH Mortgage. In its filing last week in PHH Corp., et al., v. CFPB, the bureau did not try to assert that all MSAs are unlawful or illegitimate, in and of themselves. “Parties to illegal kickback agreements are unlikely to put those agreements into writing. So those agreements may have to be identified based on circumstantial evidence and inference,” said the CFPB. “But RESPA Section 8(c)(2) clarifies when it is not proper to infer an illegal agreement. Illegality cannot be inferred merely because a party that received referrals makes payments to a party that made the referrals. “Moreover, such an arrangement is...
News Inside Mortgage Finance Inside the CFPB Enforcement Regulation RESPA
Purchase this article for $55.00
Subscribe To The Newsletter

Latest Imf News

  • Refi Deliveries to GSEs Level Off in January

  • Fannie's Profits Dip in 4Q on Fair Value Losses

  • House Committee Split on Next Affordable Housing Efforts

  • FHFA, Ginnie to Increase Oversight of Nonbank Servicers

More Imf News

Featured Data

  • Mortgage Complaints to CFPB Tick Up in Fourth Quarter

  • Agency MSR Transfers Pick Up in Fourth Quarter of 2025

  • Record Year for CLO, But Issuance Slowed in 4Q25

  • Originations Increase in Fourth Quarter With Refi Push

More Featured Data

Featured Reports

  • Mortgage Servicing Rights Report: 3Q25 (PDF)

  • IMF Mortgage Directory: Full interactive database

  • Agency Seller-Issuer Profile: 3Q25 (PDF)

  • IMF HMDA Dashboard: 2024

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results
  • About
    • About Inside Mortgage Finance
    • Contact Us
    • Advertising
    • Privacy Policy/Terms
    • Article Reprints/Web Postings
    • Copyright FAQ
  • Customer Center
    • Subscribe
    • Request a Sample
    • Account Inquiries
    • Change of Address
    • Change of Delivery Method
    • Data Licensing
    • Password Reminder
    • Group Subscriptions
    • Refunds
    • Renew Your Subscription
    • E-mail Newsletters
  • Mortgage Data
    • Origination
    • Servicing and Portfolios
    • Mortgage Insurance
    • Securitization
    • Agency MBS Activity
    • Non-Agency MBS Activity
    • MBS Investor Activity
    • ABS Activity
    • Commercial MBS Activity
    • Funding Activity
    • Earnings and Financials
    • Regulatory Data
    • Mortgage Rates and Terms
    • Subscribe to Data
    • Lender Profiles
    • HMDA Dashboard
    • Contacts Directory
    • Custom Data
    • Data Licensing
  • Reports
    • Data Reports
    • Industry Studies
    • Regulatory Reports
    • Statistical Annual
    • Free Reports

© Copyright 2026 Inside Mortgage Finance Publications
Design, CMS, Hosting & Web Development :: ePublishing