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

CFPB Issues Consent sales 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 solution Funding, Inc. (Prime Choice).

The CFPB suggested within their statement why these consent sales originated from a amount of investigations by the CFPB into businesses presumably making use of misleading direct mail promotions to promote VA guaranteed in full mortgages. Both consent requests offer civil cash charges, with Sovereign ordered to pay for $460,000 and Prime solution ordered to cover $645,000. (more…)

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