10 0 2 4 6 8 10 12 FIRREA TILA RESPA ECOA CFPA FHA FCA State Statute or Regulation 8 11 12 3 5 4 1 1 1 - Statute Analysis Mortgage Number of Actions 2016 2017 3 3 11 11 2 9 9 9 ENFORCEMENT ACTIONS BY STATUTE these complaints concern mortgage servicing (82%). Goodwin tracked seven enforcement actions related to mortgage servicing initiated by the CFPB this past year, compared to only one in 2016. These actions targeted misrepresenting required loss mitigation documentation, failing to consider borrowers for loss mitigation, and collecting improper fees. 2017 HIGHLIGHTS National Bank Pays Over $53 Million in Consumer Relief Over Discretionary Pricing Practices. In January 2017, the U.S. Attorney’s Office for the Southern District of New York entered into a consent order with JPMorgan Chase Bank concerning loans originated between 2006 and 2009 through JPMorgan’s wholesale loan channel. The consent order required that JPMorgan pay over $53 million in monetary damages, restitution, and disgorgement. The U.S. Attorney alleged that its data model projected that, as a result of JPMorgan’s discretionary pricing practices, approximately 106,000 African-American and Hispanic borrowers paid higher rates and fees on mortgage loans than white borrowers did, and that therefore these practices violated Fair Housing Act and the Equal Credit Opportunity Act (ECOA). CFPB Targets Marketing Service Agreements (MSAs). In January 2017 the CFPB announced that California real estate broker Willamette Legacy, LLC had agreed to pay a $3.5 million civil money penalty to resolve allegations that it had accepted payments under agreements with mortgage lenders that violated Section 8(a) of RESPA. While the CFPB released Compliance Bulletin 2015- 05, which cautioned that MSAs may violate RESPA’s anti-kickback provisions, this was the first action to also target desk-licensing agreements and co-marketing agreements. Zillow Group, Inc. announced this past year that the CFPB was also examining its digital co- marketing program with mortgage lenders for RESPA compliance. CFPB Issues Proposed Amendments to HMDA. In April, the CFPB proposed amendments to clarify certain requirements under the HMDA. The HMDA requires certain lenders to collect and then disclose to the CFPB 42 data points on mortgage lending activity, with