Items Tagged with 'kickbacks'

ARTICLES

Ex-NJ mayor sent to prison for kickbacks involving HUD funds

Low-income housing developers provided money to Passaic mayor Alex Blanco
The former mayor of Passaic, New Jersey will spend the next two years in prison after being convicted of soliciting and accepting bribes from developers who wanted to build low-income housing in the city. According to the U.S. Attorney’s Office for the District of New Jersey, Alex Blanco accepted $110,000 in corrupt payments, much of which was money from the Department of Housing and Urban Development.
Read More

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

Class-action suit accused Ocwen of artificially inflating costs
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.
Read More

CFPB fines Lighthouse Title for kickbacks

Michigan agency allegedly paid real estate agents for referrals
“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.”
Read More

CFPB hits Kentucky law firm with RESPA suit

Bureau begins flexing its Dodd-Frank oversight duties
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.
Read More