Back in 2014, the CFPB said that improper Marketing Service Agreements (MSAs) between real estate agents and mortgage lenders undermined consumer protections from kickbacks because they both increase costs to consumers. The CFPB has gone as far as stating that a MSA itself is a thing of value that can be evidence of a violation…
The Consumer Finance Protection Bureau has made it clear that even individual loan officers are not immune from enforcement actions. Earlier last year, the CFPB entered Consent Order against a former loan officer, David Eghbali. Eghbali worked at separate times for Wells Fargo and Bank of America. The CFPB fined Eghbali $85,000 and banned him…
