CFPB acts against mortgage insurers giving kickbacks to lenders

The Consumer Financial Protection Bureau (CFPB) announced four
enforcement actions against mortgage insurers that the CFPB believes are paying improper
kickbacks to mortgage lenders in exchange for
business. The CFPB filed complaints alleging violations of the Real Estate Settlement Procedures Act (sometimes referred to as RESPA) and proposed consent orders against the four insurance companies to stop the
practices, which the CFPB says have been prevalent for more than 10 years. The
proposed consent orders would require the mortgage insurers to pay more than $15
million in penalties. The proposed consent orders are posted at the bottom of this page.