RGC Services, Inc. dba Re/Max Gold Coast Realtors
The Consumer Financial Protection Bureau (CFPB) took action against Re/Max Gold Coast Realtors, a real estate broker in California, for accepting illegal kickbacks for mortgage business referrals. The CFPB also took action against Prospect Mortgage, LLC, a major mortgage lender, as well as a mortgage servicer and another real estate broker that took illegal kickbacks from Prospect. Under the terms of the action, Prospect will pay a $3.5 million civil penalty for its illegal conduct, and the mortgage brokers and servicer will pay a combined $495,000 in consumer relief, repayment of ill-gotten gains, and penalties.
CFPB Orders Prospect Mortgage to Pay $3.5 Million Fine for Illegal Kickback Scheme