CFPB v. PHH, explained

Why are the mortgage and real estate industries watching this case so closely?

The legal battle between the Consumer Financial Protection Bureau (CFPB) and New Jersey-based mortgage lender PHH Corp., is one of the most-watched cases in the mortgage and real estate industries, and for good reason: It involves a huge enforcement penalty — $109 million — and it marks the first time a company has fought back against the bureau for taking such an action.