California Department of Business Oversight

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PrimeLending to pay $1.6 million to settle charges of overcharging California borrowers

Nov 08, 2016By

PrimeLending will pay more than $1.6 million as part of a settlement with the California Department of Business Oversight, which accused the Texas-based lender of overcharging hundreds of California borrowers for interest on their mortgages. Only when the CDBO informed the company it planned to file an enforcement action and suspend the firm’s license to conduct business within the state did PrimeLending begin to comply the with state’s laws.

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

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