Mortgage Lender Pays for RESPA Violation...We Told You This Was Coming...

Posted by Nathan Knottingham on February 02 2017

The Knowledge Coop trains many loan officers, so this latest case and fine handed down by the CFPB did not take us by surprise. $3.5 Million is being fined against Prospect Mortgage and more thousands of dollars against Real Estate agencies for violating RESPA with illegal MSA and kickbacks.


We've talked about it before, but we will keep talking about it and bringing as much awareness as we can. Join TheREsource.TV guys on Monday as Ken discusses this latest case with them as well! TheREsource.tv: http://www.theresource.tv/

Read the case here: http://www.consumerfinance.gov/about-...

And Ken has been talking about this for awhile in class.  We wrote about it here: CFPB is on the hunt!

Most recently in August, we took to bringing this about via video. Check it out here.

And even in a Facebook Live Chat.

But we want to know what you think and how you feel about this as well. Leave us some thoughts in the comments below please!  Or email us at Info@knowledgecoop.com

Background track: Renegade by Styx, 1978 - https://www.youtube.com/watch?v=ZXhus...
Clip from Chilly Willy theme song - https://www.youtube.com/watch?v=NZ3NT...

Tags: Compliance, mortgage, Advertising, CFPB, RESPA, Fines

     

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