Industry NewsMortgage

Bear Stearns, mortgage unit settle FTC charges

Real estate brief
Published on Sep 9, 2008

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by CareyBot

The Bear Stearns Co. LLC and subsidiary EMC Mortgage Corp. will pay $28 million to settle federal allegations that the companies "misrepresented the amounts borrowers owed, charged unauthorized fees, such as late fees, property inspection fees and loan modification fees, ...