Bureau fines mortgage lender $250,000 for deceptive ads

SALE! Save $150 off
Inman Connect San Francisco tickets

Use code 'MDsale150' at checkout

Continuing its streak of taking action against mortgage lenders accused of engaging in deceptive advertising practices, the Consumer Financial Protection Bureau announced today that it has fined RMK Financial Corp., $250,000 for misrepresenting to consumers that it was affiliated with the U.S. government, for the price of its advertised mortgages, and for failing to include required disclosures regarding interest rates and monthly payments in its ads.