High Court To Decide RESPA’s Reach In Quicken Fees Suit

Law360, New York (October 11, 2011, 1:47 PM EDT) -- The U.S. Supreme Court agreed Tuesday to rule on class claims that Quicken Loans Inc. illegally charged mortgage borrowers unearned closing fees, in a case that will determine the reach of the Real Estate Settlement Procedures Act.

In a short order, the high court granted a petition for certiorari filed by three mortgage borrowers, who seek a ruling on whether RESPA bars mortgage lenders like Quicken from charging the allegedly unearned fees only if they’re shared with a third party.

The case originated in three putative...
To view the full article, register now.