Real Estate Settlement Procedures Act (RESPA)

Troutman Sanders has wide-ranging experience in litigation and compliance work involving the Real Estate Settlement Procedures Act (RESPA) and its implementation of Regulation X. We have successfully defended individual and class actions involving claims of:

  • Alleged kickbacks and improper settlement charges;
  • Failure to provide notice of servicing transfer or deficient notice of servicing transfer;
  • Failure to respond, or non-compliant/untimely responses, to Qualified Written Requests;
  • Failure to investigate and correct servicing errors; and
  • Improper placement of force-placed insurance without adequate notice.

During the last two years, RESPA and its implementation of Regulation X have undergone, and continue to undergo, a number of important amendments imposing new obligations on financial institutions. This includes the new TILA-RESPA Integrated Disclosure Rule that became effective on October 3, 2015.

We serve a broad spectrum of financial services institutions, assisting them in developing policies and procedures to ensure their compliance with RESPA and its regulations, including such policies and procedures as providing delinquent borrowers with continuity of contact with servicer personnel and evaluating borrowers’ applications for available loss mitigation options. Our attorneys provide ongoing analysis and commentary on developments in the consumer financial services industry on the Consumer Financial Services Law Monitor located at www.cfslawmonitor.com.

Troutman Sanders has represented companies in hundreds of lawsuits filed under RESPA. Our recent representation experience includes:

  • Successful settlement of a RESPA class action involving alleged kickbacks and improper settlement charges with no payment by our client;
  • Favorable settlement of a RESPA class action involving alleged pattern and practice of non-provision of a notice of servicing transfer for reverse mortgages;
  • Advising national and regional financial institutions on compliance with RESPA’s anti-kickback rules;
  • Advising national mortgage servicers on compliance with RESPA relating to qualified written requests;
  • Advising national mortgage servicer on notices of servicing transfer; and
  • Securing the early dismissal of borrowers’ RESPA claims in federal courts nationwide.
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