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Real estate firm’s affiliate disclosures fell short of RESPA requirements, CFPB says
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Consumer Protection
Thursday, May 29, 2014
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RealtySouth, the largest real estate firm in Alabama, agreed to pay $500,000 to settle Consumer Financial Protection Bureau claims that its affiliated business disclosures failed to satisfy the requirements of the Real Estate Settlement Procedures Act. The bureau said the company’s preprinted form purchase contracts either explicitly directed or suggested that title and closing services be conducted by an affiliate.
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