Mortgage lender PHH Corp. is having a very good Tuesday. The company has been battling the Consumer Financial Protection Bureau (CFPB) over its mortgage insurance practices since 2014, when the CFPB alleged that PHH referred consumers to preferred mortgage insurer partners and took reinsurance fees as kickbacks.
- In the latest hearing, the court ruled that the CFPB is "unconstitutionally structured" and imposed parameters around the director position.
- The court also sided with PHH’s RESPA arguments, ruling that captive reinsurance is permissible under RESPA.
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