CFPB targets homebuilder in first RESPA action

05/19/2013 | Wall Street Journal, The

The Consumer Financial Protection Bureau has reached a settlement with a Dallas-based homebuilder who the agency says received kickbacks from an arrangement with two mortgage lenders. Builder Paul Taylor Corp. and President Paul Taylor did not admit wrongdoing but agreed to avoid litigation by paying $118,000. The case is the first time the CFPB has exercised its authority to enforce the Real Estate Settlement Procedures Act.

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Wall Street Journal, The

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