CFPB Continues to Target Affiliated Business Arrangements

October 17, 2017

The Consumer Financial Protection Bureau (CFPB) fined Indiana-based Meridian Title Corp. $1.25 million for violating Section 8 of the Real Estate Settlement Procedures Act (RESPA) by failing to provide affiliated business arrangement (AfBA) disclosures to consumers. What surprised many is that the CFPB applied the RESPA affiliated business provisions to the title agent/underwriter relationship. Read on for the key takeway for anyone with ownership interests in title agent/underwriter relationship.

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