A little more than a year after Prospect Mortgage LLC settled allegations of illegal fees received by an appraisal affiliate, it has reached another illegal fee settlement.

In November 2015, the Multi-State Mortgage Committee announced that the Sherman Oaks, California-based company agreed a settlement with 50 state regulators.

At issue were improperly disclosed and unsupported settlement service fees paid to affiliate C2C Appraisal Services LLC for services performed by Prospect employees.


Source: Mortgage Daily