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PHH, NYDFS settle mortgage violations
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Regulatory Updates
Monday, November 14, 2016
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New York Gov. Andrew M. Cuomo announced that PHH Mortgage Corp. and its affiliate, PHH Home Loans LLC, will pay a $28 million fine and engage a third-party auditor as part of a consent order for violations of federal and New York laws designed to protect homeowners. Among other things, the finds showed that the companies imposed large fees at closing and failed to provide accurate good faith estimates. Read on for more details.
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