CFPB Gets the Green Light to Investigate Seller Financed Home Sales: Judges Ruling

CFPB Gets the Green Light to Investigate Seller Financed Home Sales: Judges Ruling

CFPB Gets the Green Light to Investigate Seller Financed Home Sales: Judges Ruling

A Federal judge has ruled in favor of the Consumer Financial Protection Bureau to keep going with their investigation in seller financed home sales. This is not the only victory though since it was also ruled by the judge that they can continue their fight against the PHH. These are both great victories for the CFPB this week.

The Consumer Financial Protection Bureau earned a big victory in court Thursday when the Court of Appeals for the District of Columbia Circuit ruled in favor of the CFPB in its fight against PHH.

The ruling gives the agency the opportunity to defend the constitutionality of its leadership structure before the entire court, as a three-judge panel of the court previously declared the CFPB’s leadership structure unconstitutional in a 2-1 vote.

And that wasn’t the only positive result the CFPB got in a federal court this week.

As the New York Times reported Thursday, a federal judge ruled that the CFPB can pursue an investigation into seller-financed home sales and the operations of Harbour Portfolio Advisors.

Judge Nancy G. Edmunds of Federal District Court in Detroit has ruled that one of the nation’s largest providers of seller-financed homes must comply with a demand for documents and other information from the consumer agency. read more… housingwire.com

 

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