High Court Refuses To Expand RESPA In Mortgage Fee Row

Law360, New York (May 24, 2012, 5:13 PM EDT) -- The U.S. Supreme Court on Thursday declined to broaden the scope of the Real Estate Settlement Procedures Act to allow a potential class of mortgage borrowers to recover allegedly unearned closing fees that Quicken Loans Inc. collected but didn't share with another party.

In a unanimous decision, the high court affirmed the Fifth Circuit's finding that RESPA is essentially an anti-kickback statute that requires consumers to demonstrate that fees collected for real estate settlement services that were never performed were divided between two or more parties...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.