Prospect Mortgage, Brokerages Ordered to Pay Millions for Illegal Kickback Scheme

Prospect Mortgage, LLC, a major mortgage lender, and two real estate brokerages have been ordered by the Consumer Financial Protection Bureau (CFPB) to pay more than $3.5 million in civil penalties and consumer compensation for participating in an “illegal kickback scheme” for mortgage business referrals.
Prospect, headquartered in Sherman Oaks, Calif., Corvallis, Ore.-based Keller Williams Mid-Willamette and Ventura, Calif.-based RE/MAX Gold Coast violated the Real Estate Settlement