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Items Tagged with 'kickbacks'

ARTICLES

Ocwen, Assurant to pay $140 million to settle force-placed insurance suit

Class-action suit accused Ocwen of artificially inflating costs
Ben Lane
Ocwen Financial and Assurant agreed to pay $140 million to settle a massive class-action lawsuit, which accused Ocwen of artificially inflating the cost of force-placed insurance in exchange for kickbacks from Assurant. The settlement agreement, which is awaiting final approval from federal court in Florida, resolves claims of 399,843 homeowners who allege they were overcharged for insurance.
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CFPB fines Lighthouse Title for kickbacks

Michigan agency allegedly paid real estate agents for referrals
Ben Lane
“Today’s action sends a clear and simple message, that quid pro quo agreements for real estate referrals are illegal,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action to ensure that the mortgage market is a level playing field where everyone plays by the rules.”
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CFPB hits Kentucky law firm with RESPA suit

Bureau begins flexing its Dodd-Frank oversight duties
Kerri Ann Panchuk
The Consumer Financial Protection Bureau flexed its enforcement authority, filing a lawsuit against Kentucky law firm Borders & Borders, alleging the firm and its principals illegally paid kickbacks for real estate settlement referrals.
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