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Violation Tracker Individual Record

Company: Freedom Mortgage Corporation
Current Parent CompanyFreedom Mortgage
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $1,750,000
Year: 2023
Date: August 17, 2023
Offense Group: competition-related offenses
Primary Offense: kickbacks and bribery
Secondary Offense: Real Estate Settlement Procedures Act (RESPA)
Violation Description: The Consumer Financial Protection Bureau (CFPB) took action against Freedom Mortgage Corporation for providing illegal incentives to real estate brokers and agents in exchange for mortgage loan referrals. This conduct violated the Real Estate Settlement Procedures Act and its implementing regulation. The CFPB ordered Freedom to cease its illegal activities and pay $1.75 million into the CFPB's victim relief fund.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
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)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.