Tag Archives: Rohit Chopra

Manufactured homebuilder’s lender draws regulatory scrutiny

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Vanderbilt Mortgage, which also does business as Silverton Mortgage, is accused by CFPB of approving loans that it should have known borrowers couldn’t repay Continue reading →

Rocket accused of using ‘kickback scheme’ to attract more borrowers

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The Consumer Financial Protection Bureau claims Rocket gave real estate agents incentives to steer consumers away from other companies. Rocket calls the allegations a “lie” and political ploy. Continue reading →

Freedom Mortgage to pay $1.75M to settle agent kickback scheme

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Regulators claim lenders’ marketing agreements with more than 40 real estate brokerages, including Realty Connect USA, were a conduit for kickbacks that generated more than 1,000 mortgage referrals. Continue reading →

Stricter rules eyed for controversial PACE energy improvement loans

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PACE loans can burden homeowners with higher property tax bills that heighten the risk they’ll get behind on their mortgages, federal regulators say. Continue reading →

Federal consumer watchdog flags mortgage servicers’ junk fees

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The CFPB alleges mortgage servicers charged excessive late fees, assessed “fake” private mortgage insurance premiums and made homeowners pay for unnecessary inspections. Continue reading →

Regulators fire warning shot over bow of mortgage comparison sites

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The Consumer Financial Protection Bureau warned on Tuesday that operators of mortgage comparison-shopping platforms may be violating RESPA if they manipulate search results to coerce kickbacks. Continue reading →

Carrington grudgingly signs off on $5.25M COVID-19 relief settlement

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CFPB alleges some homeowners who sought forbearance during the pandemic were charged improper late fees and weren’t fully informed of their options. Continue reading →

It’s the end of the road for LIBOR mortgages

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No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading →