Legal Blog

Compensation and Compliance Matters: Ambiguities Remain Around MSAs

By now everyone knows that at least two major lenders have pulled out ofmarketing services agreements with realtors following the Consumer Financial Protection Bureau’s decision in the PHH case I wrote about a few weeks ago. There are rumors swirling that others are soon to follow. In connection with these announcements, the CFPB’s spokesperson applauded the moves as “an important step for the mortgage industry” adding that the agency was “concerned that such agreements can carry significant legal risk for companies and undermine transparency for consumers.” This has caused a bit of a panic and led many to reevaluate their positions on marketing agreements. Click here to read the entire article on National Mortgage News. akaren@offitkurman.com  | 240.507.1740 Ari Karen is an experienced litigator and speaker who has focused his practice in representing financial institutions in both government investigations and litigation before state and federal trial and appellate courts nationwide. Mr. Karen’s practice is diverse, representing clients on matters concerning banking regulations, Dodd Frank financial reform laws, contractual disputes, employment and labor statutes, wage-hour class actions, employment discrimination and fair lending matters, whistleblower complaints and non-competition claims, among others. You can also connect with Offit Kurman via FacebookTwitterGoogle+YouTube, and LinkedIn. WASHINGTON | BALTIMORE | FREDERICK | PHILADELPHIA | WILMINGTON | VIRGINIA | NEW YORK