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Violation Tracker Individual Record

Company: Prospect Mortgage, LLC
Current Parent Company: Homebridge Financial Services
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Penalty: $3,427,155
Year: 2013
Date: October 23, 2013
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Violation Description: Prospect Mortgage LLC agreed to pay a $3 million penalty and deliver $427,155 restitution to homeowners after a Department of Financial Services examination uncovered that the company engaged in deceptive practices on interest rates that harmed consumers.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New Jersey
Ownership Structure of Current Parent: privately held
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: mortgage lending
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.