CFPB charges Stonebridge Title Services for RESPA violation

WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau ordered a New Jersey company, Stonebridge Title Services Inc., to pay $30,000 for paying illegal kickbacks for referrals. "Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a disadvantage," said CFPB Director Richard Cordray.

The Maryland-based title company went out of business. whom these individuals worked -and paid fees for services where legal violations occurred may receive partial or complete refunds of those.

SPAAR RESPA-TILA Class: July 9, 2015 RESPA and other CFPB Enforcement James Brody, CFPB now in charge 2. Make sure Agreements reflect arrangement actual services, actually performed. In re: Stonebridge Title Services, Inc., File No. 2014-CFPB-0006.

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The CFPB announced today that it has issued a Consent Order under which a Connecticut mortgage lender that self-reported potential RESPA section 8 violations agreed to pay an $83,000 civil money penalty for such violations.. According to the CFPB’s press release, in addition to reporting its own potential violations, the lender provided information "related to the conduct of other actors.

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the CFPB announced that it has issued a Consent Order under which a New Jersey title services company, Stonebridge Title Services Inc., agreed to pay a $30,000 civil money penalty for paying illegal.

The CFPB reviewed the business practices of Stonebridge Title Services, Inc. of Parsippany, New Jersey and its two owners Bruce Dostal and Cesare Stefanelli operated the title agency to determine if Stonebridge Title was violating RESPA Section 8(a) "illegal kickbacks" and 8(b) "unearned fees". Stonebridge Title is an appointed title.

CFPB fines title company for alleged RESPA violations – T he Consumer Financial Protection Bureau (CFPB) fined Stonebridge Title Services Inc., a New Jersey title company, $30,000 for allegedly paying illegal kickbacks for referrals in violation of RESPA. "Kickbacks drive up the costs of getting a mortgage and put law-abiding companies at a.

RESPA Sec. 8 Enforcement: CFPB Scrutiny of Settlement Fees, AfBAs and Marketing Service Agreements Best Practices for Mortgage Lenders, Insurers, Title Companies and Law Firms to Minimize Exposure. Stonebridge Title Services Referral Fees/Fee Splits/Employee Payments 1. Allegation.

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CFPB charges Stonebridge Title Services for respa violationthe consumer Financial Protection Bureau ordered New Jersey-based Stonebridge Title Services to pay $30,000 for paying illegal kickbacks for referrals.The CFPB charged that the company paid commissions to more than 20 independent salespeople who referred title insurance business to Stonebridge.