An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Politics & MoneyMortgage

CFPB charges Stonebridge Title Services for RESPA violation

Ordered to pay $30,000

The Consumer Financial Protection Bureau ordered New Jersey-based Stonebridge Title Services to pay $30,000 for paying illegal kickbacks for referrals.

The CFPB charged that the company paid commissions to more than 20 independent salespeople who referred title insurance business to Stonebridge.  

Stonebridge solicited people to provide it with referrals of title insurance business, offering to pay commissions of up to 40% of the title insurance premiums Stonebridge itself received.

In doing so, the company violated Section 8 of the Real Estate Settlement Procedures Act and is required to pay a civil penalty.

“Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage,” said CFPB Director Richard Cordray. “The Consumer Bureau will continue to take action against companies that seek to attract consumers through illegal schemes.”

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3d rendering of a row of luxury townhouses along a street

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