CFPB charges Stonebridge Title Services for RESPA violation

The CFPB reviewed the business practices of Stonebridge Title Services, Inc. of Parsippany, New Jersey and its two owners Bruce Dostal and Cesare Stefanelli operated the title agency to determine if Stonebridge Title was violating RESPA Section 8(a) "illegal kickbacks" and 8(b) "unearned fees". Stonebridge Title is an appointed title.

RESPA Sec. 8 Enforcement: CFPB Scrutiny of Settlement Fees, AfBAs and Marketing Service Agreements Best Practices for Mortgage Lenders, Insurers, Title Companies and Law Firms to Minimize Exposure. Stonebridge title services referral fees/fee Splits/Employee Payments 1. Allegation.

The Consumer Financial Protection Bureau (CFPB) announced it is charging Parsippany, New Jersey-based Stonebridge Title Services Inc., with violating the Real Estate Settlement Procedures Act. launches online tool for distressed borrowers “We have a very important job that Congress has assigned us and we have the tools to do it,” he said at an event. hearing on “Oversight of pilot programs at Fannie Mae and Freddie Mac” on Dec. 5. -.

But perhaps the most striking aspect of the speech involved what was not included in the text: Cordray made no mention regarding several ongoing controversies that have frayed the CFPB’s relationship.

CFPB Consumer Laws and Regulations RESPA . CFPB April 2015 RESPA 4 "Federally related mortgage loans" are also defined to include i nstallment sales contracts, land contracts, or contracts for deeds on otherwise qualifying residential property if the contract is funded in whole or in part by proceeds of a loan made by a lender, specified

CFPB Enforcement Targets RESPA Violations, AfBAs. violate (the Real Estate Settlement Procedures Act)," the law firm said in a statement. "This case concerns. New Jersey-based Stonebridge Title Services Inc. to pay $30,000 for paying illegal kickbacks for

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By: Daniel A. Cozzi On June 12, 2014, the Consumer Financial Protection Bureau ("CFPB") entered a Consent Order with New Jersey company, Stonebridge Title Services Inc. ("Stonebridge"), whereby Stonebridge agreed to pay $30,000 for illegal referrals in violation of Section 8 of the Real Estate Settlement Procedures Act ("RESPA").

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