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Lead generation and the Real Estate Settlement Procedures Act (“RESPA”) compliance remain hot topics following the Consumer Financial Protection Bureau’s (“CFPB”) February 2023 advisory opinion regarding digital comparison shopping platforms.  In its March 2023 issue of Consumer Compliance Supervisory Highlights, the Federal Deposit Insurance Corporation (“FDIC”) discusses certain examination observations and regulatory developments, including those related to FDIC-insured banks’ payments for leads under Section 8 of RESPA.  The Highlights indicate that, while fact specific, indicators of risk under RESPA in connection with lead generation arrangements include third parties that do one or more of the following activities:…

Continue Reading The FDIC’s Observations on Lead Generation and RESPA Compliance

Mayer Brown has established a web page through which interested persons can access resources and content related to the recent collapses of Silicon Valley Bank (SVB) and Signature Bank, and the impacts on depositors, borrowers and the market. The main page is here, and direct access to recent webinars is available under the “Events”…

Federal regulators and Congress continue to release new guidance and requirements to assist residential mortgage loan borrowers facing economic hardships due to the pandemic. But in light of the anticipated volume of requests and associated burden on servicers, they also are offering some regulatory relief. This alert contains a summary of relevant mortgage servicing requirements,…

On December 12, 2019, the Federal Deposit Insurance Corporation (“FDIC”) and the Office of the Comptroller of the Currency (“OCC”) together proposed extensive updates to their rules implementing the Community Reinvestment Act (“CRA”).  The CRA requires insured depository institutions to participate in investment, lending, and service activities that help meet the credit needs of their…