News & Analysis as of

False Advertising Mortgages Civil Monetary Penalty

Cozen O'Connor

Lender Allegedly Used Unlawful And Misleading Tactics To Market Reverse Mortgages

Cozen O'Connor on

The Consumer Financial Protection Bureau (“CFPB”) reached a settlement with reverse-mortgage lender Nationwide Equities Corporation (“Nationwide Equities”) to resolve allegations that it used false and misleading advertising...more

Goodwin

CFPB Secures $7.9 Million Trial Verdict Against Mortgage Loan Servicer

Goodwin on

On September 8, a federal judge in California ordered a national mortgage services company to pay a $7.9 million civil penalty based on false or misleading marketing statements it allegedly made to consumers about its...more

Ballard Spahr LLP

CFPB enters into consent orders with reverse mortgage companies to settle alleged advertising violations

Ballard Spahr LLP on

The CFPB announced that it entered into consent orders with three reverse mortgage companies to settle the CFPB’s allegations that the companies engaged in deceptive advertising in violation of the Mortgage Acts and...more

McGuireWoods LLP

Consumer Financial Protection Bureau Takes Action Against Payment Processing Company and Mortgage Servicer

McGuireWoods LLP on

The Consumer Financial Protection Bureau (CFBP) recently took action against a payment processing company, Paymap Inc. (Paymap), and mortgage servicing company, LoanCare, LLC (LoanCare), for deceptive conduct in connection...more

Ballard Spahr LLP

CFPB Targets Another Mortgage Lender for Deceptive Advertising

Ballard Spahr LLP on

The CFPB has announced the settlement of an enforcement action against a California-based mortgage lender for alleged deceptive advertising practices, including the use of advertisements that the CFPB claimed falsely led...more

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