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Violation Tracker Individual Record

Company: Republic Mortgage Insurance Corporation
Current Parent CompanyOld Republic International
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $100,000
Year: 2013
Date: November 15, 2013
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 Republic Mortgage Insurance Corporation (RMIC), for allegedly paying illegal kickbacks to mortgage lenders in exchange for business. The CFPB filed a complaint and proposed consent order against RMIC to stop these practices, which have been prevalent for more than 10 years. The proposed order required RMIC to pay a $100,000 penalty to the CFPB.
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: Illinois
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
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.