Law360, New York ( March 13, 2017, 11:49 AM EDT) -- On Jan. 31, 2017, the Consumer Financial Protection Bureau announced a consent order with Prospect Mortgage LLC and certain of its affiliates ("lender"). [1] The CFPB alleged in the order widespread violations of Section 8(a) of the Real Estate Settlement Procedures Act,[2] stemming from a host of agreements and arrangements the lender allegedly had entered into with settlement-side parties such as real estate brokers. [3] In tandem with the order, the CFPB announced consent orders with each of the real estate brokerage firms identified in the order (collectively, the "real estate orders" and with the consent order, the "orders"). [4] The real estate orders represent repeat versions of the wrongdoing alleged against the lender, and provide additional factual background on the alleged unlawful acts in the consent order. . . .
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