General World News

The CFPB puts mortgage comparison sites on notice

The Consumer Financial Protection Bureau (CFPB) is putting mortgage comparison sites on notice, laying out scenarios regarding how certain platforms could be violating the Real Estate Settlement Procedures Act (RESPA) section 8. 

If the mortgage comparison site “provides enhanced placement or otherwise steers consumers” to certain operators based on compensation, an operator is in violation of the RESPA section 8, according to CFPB’s advisory opinion published on Tuesday. 

When the “non-neutral use or presentation of information has the effect of steering the consumer to use,” thus constituting referral activity, and when the operator receives details ⇒

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