Winning Back-Office Strategies to Boost Your Business Agility
VIEWpoint Issue 1 | 2023
2023 Compliance Trends: Staying Ahead in an Evolving Regulatory E...
On Aug. 17, 2023, the Consumer Financial Protection Bureau (CFPB) issued a $1.75 million penalty against Freedom Mortgage Corporation (Freedom) for providing illegal incentives and kickbacks to real estate agents and brokers. The 27-page consent order explains how Freedom violated Section 8(a) of the Real Estate Settlement Procedures Act (RESPA), which prohibits kickbacks for business referrals related to, or part of, settlement services involving federally related mortgage loans. Freedom’s violations included the following:
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