A New Orleans lending operation paid “illegal kickbacks” to a local real estate brokerage by charging artificially high rents for office space, according to the Federal Deposit Insurance Corp. (FDIC). In addition, it paid “illegal referral fees” through a lead generation service, the FDIC said in its most recent Community Reinvestment Act Performance Evaluation of the bank. Sterbcow Law Group’s Managing Attorney Marx Sterbcow offered advice to save other lenders and brokerages from being on the wrong side of the headlines. Read on for details.
TO READ THE FULL STORY
more RESPA Tips »
Cover Story: