{"id":2833763,"date":"2023-08-18T16:03:33","date_gmt":"2023-08-18T20:03:33","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/freedom-mortgage-pays-1-75m-to-settle-agent-kickback-scheme\/"},"modified":"2023-08-18T16:03:33","modified_gmt":"2023-08-18T20:03:33","slug":"freedom-mortgage-pays-1-75m-to-settle-agent-kickback-scheme","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/freedom-mortgage-pays-1-75m-to-settle-agent-kickback-scheme\/","title":{"rendered":"Freedom Mortgage pays $1.75M to settle agent kickback scheme"},"content":{"rendered":"
No one can predict the future, but you can prepare. Find out what to prepare for and pick up the tools you\u2019ll need at the immersive Virtual Inman Connect<\/a> on Nov. 1-2, 2023. And don\u2019t miss Inman Connect New York<\/a> on Jan. 23-25, 2024, where AI, capital, and more will be center stage. Bet big on the roaring future, and join us at Connect.<\/em><\/p>\n Freedom Mortgage Corp. has agreed to pay a $1.75 million fine to federal regulators to settle allegations that marketing services agreements<\/a> the lender had with more than 40 real estate brokerages were used to channel illegal kickbacks that generated more than 1,000 mortgage referrals.<\/p>\n In announcing the settlement with Freedom Mortgage, the Consumer Financial Protection Bureau said one of the real estate brokerages that allegedly participated in the scheme \u2014 Realty Connect USA Long Island \u2014 has also agreed to pay a $200,000 civil penalty.<\/p>\n Freedom Mortgage and Realty Connect, which did not immediately respond to requests for comment, agreed to the settlements without admitting or denying any wrongdoing.<\/p>\n The Freedom Mortgage subsidiary accused of providing kickbacks, RoundPoint Mortgage Servicing, ceased operations in August 2022 and Freedom no longer has a traditional retail mortgage lending unit, regulators said.<\/p>\n