United States Supreme Court Ruling on Reach of RESPA

Yesterday, the United States Supreme Court, in a unanimous ruling, made it harder for home buyers to sue mortgage lenders for certain overcharges at settlement, limiting the reach of a provision of a 1974 federal law on real estate settlement procedures.

At issue was a provision in the law that barred lenders for collecting fees for settlement services they do not perform. Justice Scalia said the provision only applied when a settlement service provider splits the fee with another party in the transaction.

See Reuters.com for more.

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