CFPB Takes Action Against Two Lenders for Loan Officer Comp Violations and Illegal Kickbacks

Within the last few days the CFPB has announced enforcement actions against two lenders for violating the LO compensation rule and for illegally referring customers to mortgage insurers in exchange for kickbacks in violation of RESPA. Course providers are encouraged to review the actions as they serve as good examples of the type of enforcement actions the CFPB is taking in response to violations of mortgage regulations. The enforcement actions can be viewed on the CFPB’s web site.

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