Finanse i konsumenci · 13/02/2023

CFPB Issues Advisory Opinion on Digital Mortgage Comparison-Shopping Platforms and RESPA Violations

The Consumer Financial Protection Bureau (CFPB) has issued an Advisory Opinion addressing the applicability of the Real Estate Settlement Procedures Act (RESPA) section 8 to operators of digital mortgage comparison-shopping platforms, which can generate leads for platform participants through consumer interactions, and clarifies that these platforms violate RESPA if they steer consumers to participants based on compensation rather than neutral criteria.