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CFPB Takes Action on Mortgage Insurance Kickbacks – IBA Compliance Connection

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CFPB Takes Action on Mortgage Insurance Kickbacks

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A CFPB press release has announced enforcement actions against four mortgage insurers (Genworth, Mortgage Guaranty, Radian Guaranty and United Guaranty) to end improper kickbacks paid to lenders. For now, the enforcement actions are focused on the mortgage insurers, but the CFPB's next actions may target financial institutions that allegedly accepted improper payments from these insurers.