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Section 8: Every mortgage lender’s concern

Question: 
We are not examined by the CFPB. Should we be worried about Section 8 violations?
Answer: 

Most of the big eye-popping cases involve entities regulated by the CFPB. The RESPA Interagency Examination Procedures, which are used by all of the federal financial institution regulators, include Section 8 in the scope of the procedures. Any financial institution can have Section 8 issues. One of the most recent cases we will cover in the program is an FDIC case.
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Learn more about Jack Holzknecht webinar Understanding RESPA Section 8 Violations

First published on 11/24/2019

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