CFPB Enforcement Actions: Real Estate Brokers, a Mortgage Lender, and a Mortgage Servicer

The Consumer Financial Protection Bureau (CFPB) issued multiple enforcement actions for Real Estate Settlement Procedures Act (RESPA) violations, including two against real estate brokers. Prospect Mortgage, LLC, received a $3.5 million penalty for paying illegal kickbacks for mortgage business referrals. Re/Max Gold Coast and Keller Williams Mid-Willamette were each fined $50k and $180k respectively, for accepting illegal payment for referrals through agreements with Prospect. Planet Home Lending, a mortgage servicer, received a $265k fine for taking illegal kickbacks from… Read More