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U.S. Consumer Financial Protection Bureau
More penalties arise from alleged mortgage kickback scheme

Attorney General Brian E. Frosh and the Consumer Financial Protection Bureau said Wednesday that the leaders of a defunct Owings Mills title company and three loan officers had agreed to pay fines worth at least $660,000 collectively to settle allegations of a mortgage kickback scheme. The complaint alleges that Genuine Title made cash payments and delivered marketing services to loan officers in exchange for referrals, in violation of the federal Real Estate Settlement Procedures Act and Maryland Consumer Protection Act. A $37.5 million settlement with Wells Fargo and JP Morgan Chase over similar allegations involving Genuine Title and more than 100 of the banks' loan officers was...

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