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🚨🧾CFPB Sues to Halt Unlawful Kickback Scheme Involving Rocket Mortgage
The Consumer Financial Protection Bureau (CFPB) has filed a lawsuit to stop an illegal scheme in which Rocket Homes allegedly paid unlawful referral fees to real estate brokers and agents in exchange for directing clients to Rocket Mortgage. The Bureau asserts that these payments constituted prohibited kickbacks under the Real Estate Settlement Procedures Act (RESPA), designed to protect consumers from being steered into mortgage arrangements based on financial incentives rather than the borrowers’ best interests.
https://nationalmortgageprofessional.com/news/namb-applauds-house-passage-va-home-loan-reform-bill