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CFPB Hits Brokers For Marketing Agreements

Wednesday, February 1 2017 2:36 PM

The Consumer Financial Protection Bureau yesterday fined a mortgage lender, two real estate brokerages, and a mortgage servicing company for referral arrangements the companies had entered into that CFPB says are prohibited under the Real Estate Settlement Procedures Act (RESPA). In a statement, CFPB Director Richard Cordray says the action "sends a clear message that it is illegal to make or accept payments for mortgage referrals."  Read More

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