RPM Mortgage and MBA Get Vocal About CFPB Enforcement Actions. A Trend or Blip on the Radar?
June 11, 2015
RPM Mortgage recently agreed to pay the Consumer Financial Protection Bureau $19 million to settle allegations that it violated the agency’s loan officer compensation rule by steering consumers to costlier mortgages and then paying illegal bonuses to LOs for bringing in the higher yielding paper. But shortly after the ink was dry on the June 4 settlement announcement, the privately held RPM and its owner and CEO Robert Hirt went on the offensive, trying to give its side of the story in regard to one pertinent fact: the higher yielding mortgages cited by the agency. A spokeswoman for RPM contacted...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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