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Violation Tracker Individual Record

Company: Paymap Inc.
Penalty: $38,400,000
Year: 2015
Date: July 28, 2015
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: mortgage abuses
Violation Description: The Consumer Financial Protection Bureau took action against Paymap Inc. and LoanCare, LLC for deceiving consumers with advertisements for a mortgage payment program that promised tens of thousands of dollars in interest savings from more frequent mortgage payments. Paymap was required to return $33.4 million in fees to consumers and pay a $5 million civil penalty to the CFPB, and LoanCare will pay a $100,000 civil penalty.
Level of Government: federal
Action Type: agency action
Agency: Consumer Financial Protection Bureau
Civil or Criminal Case: civil
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.