Prospect reaches settlement with MMC over affiliate C2C Appraisal Services

Prospect Mortgage reached an agreement with the Multi-State Mortgage Committee after an examination revealed a pattern of charging improperly disclosed and unsupported fees paid to the company’s affiliate. "This settlement allows the company the ability to continue operating while sending a strong message to the industry that this kind of behavior must be stopped," said Karyn Tierney, chair of the MMC.