Freeman v. Quicken Loans | U.S. Supreme Court Says ‘Unearned’ (BOGUS) Fees Charged by Lenders and Other Service Providers Do Not Violate U.S. Law

“Critics within the industry, such as Frank LLosa, a lawyer and broker in Northern Virginia, called such fees “bogus” and “designed to confuse the customer and ultimately charge them more.””

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High court says ‘unearned’ fees charged by lenders and other service providers do not violate U.S. law

In a decision that could have significant effects on the fees that consumers pay in real estate transactions, the U.S. Supreme Court has ruled that “unearned” fees charged by lenders and other service providers do not violate federal law as long as they are not split with anyone else.

The court’s unanimous decision effectively reopens the door to controversial “administrative” fees levied by real estate brokers, and could encourage the marking-up of fees by mortgage lenders, settlement agents and others, a practice that had been banned by federal regulators for the past decade.

In a decision that could have significant effects on the fees that consumers pay in real estate transactions, the U.S. Supreme Court has ruled that “unearned” fees charged by lenders and other service providers do not violate federal law as long as they are not split with anyone else.

The court’s unanimous decision effectively reopens the door to controversial “administrative” fees levied by real estate brokers, and could encourage the marking-up of fees by mortgage lenders, settlement agents and others, a practice that had been banned by federal regulators for the past decade.

Rest here…

Copy of the ruling below…

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4closureFraud.org

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Freeman v. Quicken Loans

Comments
2 Responses to “Freeman v. Quicken Loans | U.S. Supreme Court Says ‘Unearned’ (BOGUS) Fees Charged by Lenders and Other Service Providers Do Not Violate U.S. Law”
  1. Anynomous says:

    I am going to charge my Servicer a $ 5000.00 a$$hole fee. I have confirmed that those fees are correct . Don’t worry – I will not share with anyone: totally legitimate bogus fees.

  2. Anynomous says:

    This is just sickening. They are tacking on thousands of foreclosure fees that never occurred on every home BEFORE it even goes into foreclosure. Disgusting how this country develops backwards. Who bribed the supreme court????

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