Category: chase bank installment loans

CFPB Issues Consent instructions for False and Misleading Advertising for VA Mortgages

CFPB Issues Consent instructions for False and Misleading Advertising for VA Mortgages

On July 24, 2020, the CFPB announced the issuance of consent orders against Sovereign Lending Group, Inc. (Sovereign) and Prime preference Funding, Inc. (Prime Choice).

The CFPB suggested within their statement why these consent purchases originated from a wide range of investigations by the CFPB into organizations presumably making use of deceptive direct mail campaigns to promote VA assured mortgages. Both consent purchases offer civil cash charges, with Sovereign ordered to pay for $460,000 and Prime preference ordered to cover $645,000.
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