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Home » Store » RESPA » As Legal Action in PHH v. CFPB Continues, Agency Brings RESPA Action Against Prospect Mortgage

As Legal Action in PHH v. CFPB Continues, Agency Brings RESPA Action Against Prospect Mortgage

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RESPA

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The Consumer Financial Protection Bureau this week announced a Real Estate Settlement Procedures Act enforcement action against a nonbank lender that appears to reflect a traditional interpretation of the law’s anti-kickback provisions, while a flurry of new paperwork fell on its controversial legal battle with PHH Mortgage. The bureau this week brought a $3.5 million enforcement action against Prospect Mortgage, accusing the firm of illegal kickbacks for mortgage business referrals from real estate brokers, and in an unusual twist, a mortgage servicing operation. The CFPB said...
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