On January 21, 2017 the Consumer Financial Protection Bureau (CFPB) took action against Prospect Mortgage, LLC, a major mortgage lender, for paying illegal kickbacks for mortgage business referrals. The CFPB also took action against two real estate brokers and a mortgage servicer that took illegal kickbacks from Prospect. Under the terms of the action, Prospect will pay a $3.5 million civil penalty for its illegal conduct, and the real estate brokers and servicer will pay […]
