10/10/2013

The Consumer Financial Protection Bureau has fined Mortgage Master $425,000 and Washington Federal $34,000 for what the agency says are numerous data mistakes in mortgage applications as disclosed under the Home Mortgage Disclosure Act. "Today we are sending a strong signal that no mortgage lending institution -- whether bank or nonbank -- should be able to mislead the public with erroneous data," said CFPB Director Richard Cordray. The lenders said the errors were administrative and technical and did not harm borrowers.

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