HUD: bankrupt Arizona lender violated RESPA

Payments to brokers, builders run afoul of anti-kickback rules

Inman News

A bankrupt Arizona mortgage lender paid $856,000 in bonuses, marketing fees and "non competition" fees to mortgage brokers, builders and real estate brokerages that referred nearly $1 billion in business to the company, according to two audit reports by the Department of Housing and Urban Development.

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