Industry NewsMortgage

Mortgage reinsurance attracts scrutiny from watchdog agency

PHH Corp. discloses RESPA investigation
Published on Mar 14, 2012 | Updated on Apr 23, 2013

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by CareyBot

The Consumer Financial Protection Bureau is looking into whether one of the nation's largest mortgage lenders violated the Real Estate Settlement Procedures Act by reinsuring loans for private mortgage insurers it referred business to.

PHH Corp. -- whose PHH Home Loans LLC subsidiary is jointly owned by real estate franchisor Realogy Corp. -- says it stopped reinsuring loans in 2009, and the company maintains that its practices up to that point complied with RESPA.

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