Mortgage lender fined $3.5 million for kickback scheme

Senate grills Treasury pick on foreclosure record

Senate grills Treasury pick on foreclosure record

A major mortgage lender has been fined $ 3.5 million for allegedly using kickbacks to drum up business.

The Consumer Financial Protection Bureau said that between 2011-2016 Prospect Mortgage was making illegal payments to real estate brokers in exchange for mortgage origination referrals.

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Personal finance news – CNNMoney.com

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