Planet Home Lending, LLC
The Bureau took action against Planet Home Lending, LLC, a mortgage servicer headquartered in Meriden, Connecticut, for accepting payments for mortgage business referrals from Prospect Mortgage, LLC and for improper use of credit reports for marketing purposes, in violation of the Real Estate Settlement Procedures Act and its implementing Regulation X, the Fair Credit Reporting Act, and the Consumer Financial Protection Act of 2010. The order required Planet Home to come into compliance with the law and pay $265,000 in consumer redress.
On September 22, 2025, pursuant to the Bureau’s authority under 12 U.S.C. § 5563(b)(3) and under Paragraph 51 of the order, the Bureau terminated the order. Planet Home has fulfilled several obligations under the order, including, among other things, implementing the required redress plan, paying consumer redress of $265,000, and changing business practices in light of the violations identified in the order.
Related documents
Order Terminating the Consent Order
Press release
CFPB Orders Prospect Mortgage to Pay $3.5 Million Fine for Illegal Kickback Scheme