My Credit Fix Now , fraudulently misrepresents bogus leads and rips off VP Mortgage for $5k Encino California
7/26/07 After a week of deciding whether or not to purchase these EXCLUSIVE LEADS, i was told that the potential borrowers where looking for a mortage and that they had actually contacted CREDIT FIX NOW and that the applications were verfied by their call center. I was also told that the property values were analyzed by a third party, perhaps on online engine to give an idea of property values, and that these folks were definitely home owners! Also i was told that the smallest lead package was for $5000, yet i see that another loan officer was also ripped off but he paid $2,500 for 100 exclusive leads on the 30th of July of 2007... Yet what i was told is the complete opposite!
This can not be any further from the truth!! The leads i have been provided are completely bogus
1)ALL of these leads are definitely not exclusive, the borrowers are very angry and nasty because I am the 7th or 8th person to call them regarding a potential refinance.
I PAID FOR EXCLUSIVE LEADS!!! NOT resold junk!!!
2)Many of these leads have incorrect telephone numbers
3)Many of these leads have already refinanced their homes weeks ago, with no chance of a refinance for another 2 or 3 or more years years
4)Many of these leads have inaccurate information specifically the potential borrowers are apartment renters and NOT actual homeowners Yet the lead forms indicate that the borrowers have owned the homes for a certain time frame, and also have bogus mortgage loan amounts with bogus interest rates on said bogus mortgage loans
5) some of these leads have extremely low credit scores to where we can not possibly refinance these borrowers (credit scores BELOW 600)
6)All of these leads have completely inaccurate property values! Yet when I asked the representative of Credit Fix Now how the property values were obtained I was informed that they were obtained through a third party This is impossible ALL of the values are off, by several hundred thousand dollars
7) Some of these borrowers just purchased their properties within the last 3 months!.... It is not possible to refinance a property that has just been purchased, Lenders require at least one year worth of property seasoning
8)Most of these leads only disclose one mortgage when the borrowers actually have 2 mortgages. It is impossible to get any quality out of these fraudulent leads.
Furthermore these leads are not qualified leads and the information is inaccurate.
I finally spoke with a gentleman who explained that he was called (he didn't know where his information was obtained) he told the CREDIT FIX NOW Operator that he was over 100% LTV... but he was told that this is NEVER a problem, yet his application shows that he is at 50% LTV and that his home is worth more than one million dollars
I signed the agreement believing the purpose of the agreement was to generate qualified and interested borrowers looking to refinance their current mortgages, and since CREDIT FIX NOW charges 10% of the gross profit on every deal i was told that the $5k deposit was to ensure that they would be paid their referral fees. I now KNow that this is simply their fraudulent way of manipulating brokers to sign these contracts. Furthermore, i am researching if it is legal to charge a shop a 10% fee of profits for a mortgage loan, as i am now told that this is a RESPA VIOLATION!
Furthermore i was never told about a legal 3 day right of recission neither in writing or verbally.
The young man who sold me on the agreement is named Kevin, he sounded very nice and i choose to believe that he is only doing his job. But he has never once answered any of my messages requesting a refund... instead the Exec VP David Gates called after numerous messages and emails, Mr. Gates told me that i had to continue working these leads. I told him that these leads are complete junk and many of them are not even home owners, i requested a refund of my money. Needless to say upon requesting a refund of my money Mr. Gates said that i will NOT be refunded the money and that i will continue to recieve these leads.. In short he said that since i signed the contract i was not getting my money back whether i liked it or not~!
Boy how the events have changed they called very religously stating how there was a back up of Mortgage leads in VA and how i would be the only broker to have exclusivity of these leads.
What kind of business do these people have going on???
This company sells trash and i want a refund of my money!!!
Aiza
Manassas, Virginia
U.S.A.
4 Updates & Rebuttals
Aiza
Manassas,Virginia,
U.S.A.
Credit Fix Now is in RESPA violation
#5Author of original report
Wed, August 29, 2007
TITLE 12--BANKS AND BANKING
CHAPTER 27--REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2607. Prohibition against kickbacks and unearned fees
(a) Business referrals
No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or
otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be
referred to any person.
(b) Splitting charges
No person shall give and no person shall accept any portion, split, or percentage of any charge made or received for the rendering of a real
estate settlement service in connection with a transaction involving a federally related mortgage loan other than for services actually
performed.
(c) Fees, salaries, compensation, or other payments
Nothing in this section shall be construed as prohibiting (1) the payment of a fee (A) to attorneys at law for services actually rendered
or (B) by a title company to its duly appointed agent for services actually performed in the issuance of a policy of title insurance or (C)
by a lender to its duly appointed agent for services actually performed in the making of a loan, (2) the payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed, (3) payments pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and brokers, (4) affiliated business arrangements so long as (A) a disclosure is made of the existence of such an arrangement to the person being referred and, in connection with such referral, such person is provided a written estimate of the charge or range of charges generally made by the provider to which the person is referred (i) in the case of a face-to-face referral or a referral made in writing or by electronic media, at or before the time of the referral (and compliance with this requirement in such case may be evidenced by a notation in a written, electronic, or similar system of records maintained in the regular course of business); (ii) in the case of a referral made by telephone, within 3 business days after the referral by telephone,\1\ (and in such case an abbreviated verbal disclosure of the existence of the arrangement and the fact that a written disclosure will be provided within 3 business days shall be made to the person being referred during the telephone referral); or (iii) in the case of a referral by a lender (including a referral by a lender to an affiliated lender), at the time the estimates required under section 2604(c) of this title are provided (notwithstanding clause (i) or (ii)); and any required written receipt of such disclosure (without regard to the manner of the disclosure under clause (i), (ii), or (iii)) may be obtained at the closing or settlement
(except that a person making a face-to-face referral who provides the written disclosure at or before the time of the referral shall attempt
to obtain any required written receipt of such disclosure at such time and if the person being referred chooses not to acknowledge the receipt of the disclosure at that time, that fact shall be noted in the written, electronic, or similar system of records maintained in the regular
course of business by the person making the referral), (B) such person is not required to use any particular provider of settlement services, and (C) the only thing of value that is received from the arrangement, other than the payments permitted under this subsection, is a return on the ownership interest or franchise relationship, or (5) such other payments or classes of payments or other transfers as are specified in regulations prescribed by the Secretary, after consultation with the
Attorney General, the Secretary of Veterans Affairs, the Federal Home
Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of
Agriculture. For purposes of the preceding sentence, the following shall
not be considered a violation of clause (4)(B): (i) any arrangement that
requires a buyer, borrower, or seller to pay for the services of an
attorney, credit reporting agency, or real estate appraiser chosen by
the lender to represent the lender's interest in a real estate
transaction, or (ii) any arrangement where an attorney or law firm
represents a client in a real estate transaction and issues or arranges
for the issuance of a policy of title insurance in the transaction
directly as agent or through a separate corporate title insurance agency that may be established by that attorney or law firm and operated as an adjunct to his or its law practice.
---------------------------------------------------------------------------
\1\ So in original.
---------------------------------------------------------------------------
(d) Penalties for violations; joint and several liability; treble
damages; actions for injunction by Secretary and by State
officials; costs and attorney fees; construction of State laws
(1) Any person or persons who violate the provisions of this section
shall be fined not more than $10,000 or imprisoned for not more than one year, or both.
(2) Any person or persons who violate the prohibitions or
limitations of this section shall be jointly and severally liable to the
person or persons charged for the settlement service involved in the
violation in an amount equal to three times the amount of any charge
paid for such settlement service.
(3) No person or persons shall be liable for a violation of the
provisions of subsection (c)(4)(A) of this section if such person or
persons proves by a preponderance of the evidence that such violation
was not intentional and resulted from a bona fide error notwithstanding
maintenance of procedures that are reasonably adapted to avoid such
error.
(4) The Secretary, the Attorney General of any State, or the
insurance commissioner of any State may bring an action to enjoin
violations of this section.
(5) In any private action brought pursuant to this subsection, the
court may award to the prevailing party the court costs of the action
together with reasonable attorneys fees.
(6) No provision of State law or regulation that imposes more
stringent limitations on affiliated business arrangements shall be
construed as being inconsistent with this section.
(Pub. L. 93-533, Sec. 8, Dec. 22, 1974, 88 Stat. 1727; Pub. L. 94-205,
Sec. 7, Jan. 2, 1976, 89 Stat. 1158; Pub. L. 98-181, title IV,
Sec. 461(b), (c), Nov. 30, 1983, 97 Stat. 1231; Pub. L. 100-242, title
V, Sec. 570(g), Feb. 5, 1988, 101 Stat. 1950; Pub. L. 102-54,
Sec. 13(d)(4), June 13, 1991, 105 Stat. 275; Pub. L. 104-208, div. A,
title II, Sec. 2103(c)(2), (d), Sept. 30, 1996, 110 Stat. 3009-400.)
How can my Credit Fix Now.. legally charge brokers 10% of loan commissions if they are not loan officers?? THIS IS DEFINITE RESPA VIOLATION!!!
THERFOR THE CONTRACTS WE SIGNED ARE NULL AND VOID AND WE SHOULD GET OUR MONEY BACK!!
Aiza
Manassas,Virginia,
U.S.A.
Credit Fix Now is in RESPA violation
#5Author of original report
Wed, August 29, 2007
TITLE 12--BANKS AND BANKING
CHAPTER 27--REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2607. Prohibition against kickbacks and unearned fees
(a) Business referrals
No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or
otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be
referred to any person.
(b) Splitting charges
No person shall give and no person shall accept any portion, split, or percentage of any charge made or received for the rendering of a real
estate settlement service in connection with a transaction involving a federally related mortgage loan other than for services actually
performed.
(c) Fees, salaries, compensation, or other payments
Nothing in this section shall be construed as prohibiting (1) the payment of a fee (A) to attorneys at law for services actually rendered
or (B) by a title company to its duly appointed agent for services actually performed in the issuance of a policy of title insurance or (C)
by a lender to its duly appointed agent for services actually performed in the making of a loan, (2) the payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed, (3) payments pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and brokers, (4) affiliated business arrangements so long as (A) a disclosure is made of the existence of such an arrangement to the person being referred and, in connection with such referral, such person is provided a written estimate of the charge or range of charges generally made by the provider to which the person is referred (i) in the case of a face-to-face referral or a referral made in writing or by electronic media, at or before the time of the referral (and compliance with this requirement in such case may be evidenced by a notation in a written, electronic, or similar system of records maintained in the regular course of business); (ii) in the case of a referral made by telephone, within 3 business days after the referral by telephone,\1\ (and in such case an abbreviated verbal disclosure of the existence of the arrangement and the fact that a written disclosure will be provided within 3 business days shall be made to the person being referred during the telephone referral); or (iii) in the case of a referral by a lender (including a referral by a lender to an affiliated lender), at the time the estimates required under section 2604(c) of this title are provided (notwithstanding clause (i) or (ii)); and any required written receipt of such disclosure (without regard to the manner of the disclosure under clause (i), (ii), or (iii)) may be obtained at the closing or settlement
(except that a person making a face-to-face referral who provides the written disclosure at or before the time of the referral shall attempt
to obtain any required written receipt of such disclosure at such time and if the person being referred chooses not to acknowledge the receipt of the disclosure at that time, that fact shall be noted in the written, electronic, or similar system of records maintained in the regular
course of business by the person making the referral), (B) such person is not required to use any particular provider of settlement services, and (C) the only thing of value that is received from the arrangement, other than the payments permitted under this subsection, is a return on the ownership interest or franchise relationship, or (5) such other payments or classes of payments or other transfers as are specified in regulations prescribed by the Secretary, after consultation with the
Attorney General, the Secretary of Veterans Affairs, the Federal Home
Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of
Agriculture. For purposes of the preceding sentence, the following shall
not be considered a violation of clause (4)(B): (i) any arrangement that
requires a buyer, borrower, or seller to pay for the services of an
attorney, credit reporting agency, or real estate appraiser chosen by
the lender to represent the lender's interest in a real estate
transaction, or (ii) any arrangement where an attorney or law firm
represents a client in a real estate transaction and issues or arranges
for the issuance of a policy of title insurance in the transaction
directly as agent or through a separate corporate title insurance agency that may be established by that attorney or law firm and operated as an adjunct to his or its law practice.
---------------------------------------------------------------------------
\1\ So in original.
---------------------------------------------------------------------------
(d) Penalties for violations; joint and several liability; treble
damages; actions for injunction by Secretary and by State
officials; costs and attorney fees; construction of State laws
(1) Any person or persons who violate the provisions of this section
shall be fined not more than $10,000 or imprisoned for not more than one year, or both.
(2) Any person or persons who violate the prohibitions or
limitations of this section shall be jointly and severally liable to the
person or persons charged for the settlement service involved in the
violation in an amount equal to three times the amount of any charge
paid for such settlement service.
(3) No person or persons shall be liable for a violation of the
provisions of subsection (c)(4)(A) of this section if such person or
persons proves by a preponderance of the evidence that such violation
was not intentional and resulted from a bona fide error notwithstanding
maintenance of procedures that are reasonably adapted to avoid such
error.
(4) The Secretary, the Attorney General of any State, or the
insurance commissioner of any State may bring an action to enjoin
violations of this section.
(5) In any private action brought pursuant to this subsection, the
court may award to the prevailing party the court costs of the action
together with reasonable attorneys fees.
(6) No provision of State law or regulation that imposes more
stringent limitations on affiliated business arrangements shall be
construed as being inconsistent with this section.
(Pub. L. 93-533, Sec. 8, Dec. 22, 1974, 88 Stat. 1727; Pub. L. 94-205,
Sec. 7, Jan. 2, 1976, 89 Stat. 1158; Pub. L. 98-181, title IV,
Sec. 461(b), (c), Nov. 30, 1983, 97 Stat. 1231; Pub. L. 100-242, title
V, Sec. 570(g), Feb. 5, 1988, 101 Stat. 1950; Pub. L. 102-54,
Sec. 13(d)(4), June 13, 1991, 105 Stat. 275; Pub. L. 104-208, div. A,
title II, Sec. 2103(c)(2), (d), Sept. 30, 1996, 110 Stat. 3009-400.)
How can my Credit Fix Now.. legally charge brokers 10% of loan commissions if they are not loan officers?? THIS IS DEFINITE RESPA VIOLATION!!!
THERFOR THE CONTRACTS WE SIGNED ARE NULL AND VOID AND WE SHOULD GET OUR MONEY BACK!!
Aiza
Manassas,Virginia,
U.S.A.
Credit Fix Now is in RESPA violation
#5Author of original report
Wed, August 29, 2007
TITLE 12--BANKS AND BANKING
CHAPTER 27--REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2607. Prohibition against kickbacks and unearned fees
(a) Business referrals
No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or
otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be
referred to any person.
(b) Splitting charges
No person shall give and no person shall accept any portion, split, or percentage of any charge made or received for the rendering of a real
estate settlement service in connection with a transaction involving a federally related mortgage loan other than for services actually
performed.
(c) Fees, salaries, compensation, or other payments
Nothing in this section shall be construed as prohibiting (1) the payment of a fee (A) to attorneys at law for services actually rendered
or (B) by a title company to its duly appointed agent for services actually performed in the issuance of a policy of title insurance or (C)
by a lender to its duly appointed agent for services actually performed in the making of a loan, (2) the payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed, (3) payments pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and brokers, (4) affiliated business arrangements so long as (A) a disclosure is made of the existence of such an arrangement to the person being referred and, in connection with such referral, such person is provided a written estimate of the charge or range of charges generally made by the provider to which the person is referred (i) in the case of a face-to-face referral or a referral made in writing or by electronic media, at or before the time of the referral (and compliance with this requirement in such case may be evidenced by a notation in a written, electronic, or similar system of records maintained in the regular course of business); (ii) in the case of a referral made by telephone, within 3 business days after the referral by telephone,\1\ (and in such case an abbreviated verbal disclosure of the existence of the arrangement and the fact that a written disclosure will be provided within 3 business days shall be made to the person being referred during the telephone referral); or (iii) in the case of a referral by a lender (including a referral by a lender to an affiliated lender), at the time the estimates required under section 2604(c) of this title are provided (notwithstanding clause (i) or (ii)); and any required written receipt of such disclosure (without regard to the manner of the disclosure under clause (i), (ii), or (iii)) may be obtained at the closing or settlement
(except that a person making a face-to-face referral who provides the written disclosure at or before the time of the referral shall attempt
to obtain any required written receipt of such disclosure at such time and if the person being referred chooses not to acknowledge the receipt of the disclosure at that time, that fact shall be noted in the written, electronic, or similar system of records maintained in the regular
course of business by the person making the referral), (B) such person is not required to use any particular provider of settlement services, and (C) the only thing of value that is received from the arrangement, other than the payments permitted under this subsection, is a return on the ownership interest or franchise relationship, or (5) such other payments or classes of payments or other transfers as are specified in regulations prescribed by the Secretary, after consultation with the
Attorney General, the Secretary of Veterans Affairs, the Federal Home
Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of
Agriculture. For purposes of the preceding sentence, the following shall
not be considered a violation of clause (4)(B): (i) any arrangement that
requires a buyer, borrower, or seller to pay for the services of an
attorney, credit reporting agency, or real estate appraiser chosen by
the lender to represent the lender's interest in a real estate
transaction, or (ii) any arrangement where an attorney or law firm
represents a client in a real estate transaction and issues or arranges
for the issuance of a policy of title insurance in the transaction
directly as agent or through a separate corporate title insurance agency that may be established by that attorney or law firm and operated as an adjunct to his or its law practice.
---------------------------------------------------------------------------
\1\ So in original.
---------------------------------------------------------------------------
(d) Penalties for violations; joint and several liability; treble
damages; actions for injunction by Secretary and by State
officials; costs and attorney fees; construction of State laws
(1) Any person or persons who violate the provisions of this section
shall be fined not more than $10,000 or imprisoned for not more than one year, or both.
(2) Any person or persons who violate the prohibitions or
limitations of this section shall be jointly and severally liable to the
person or persons charged for the settlement service involved in the
violation in an amount equal to three times the amount of any charge
paid for such settlement service.
(3) No person or persons shall be liable for a violation of the
provisions of subsection (c)(4)(A) of this section if such person or
persons proves by a preponderance of the evidence that such violation
was not intentional and resulted from a bona fide error notwithstanding
maintenance of procedures that are reasonably adapted to avoid such
error.
(4) The Secretary, the Attorney General of any State, or the
insurance commissioner of any State may bring an action to enjoin
violations of this section.
(5) In any private action brought pursuant to this subsection, the
court may award to the prevailing party the court costs of the action
together with reasonable attorneys fees.
(6) No provision of State law or regulation that imposes more
stringent limitations on affiliated business arrangements shall be
construed as being inconsistent with this section.
(Pub. L. 93-533, Sec. 8, Dec. 22, 1974, 88 Stat. 1727; Pub. L. 94-205,
Sec. 7, Jan. 2, 1976, 89 Stat. 1158; Pub. L. 98-181, title IV,
Sec. 461(b), (c), Nov. 30, 1983, 97 Stat. 1231; Pub. L. 100-242, title
V, Sec. 570(g), Feb. 5, 1988, 101 Stat. 1950; Pub. L. 102-54,
Sec. 13(d)(4), June 13, 1991, 105 Stat. 275; Pub. L. 104-208, div. A,
title II, Sec. 2103(c)(2), (d), Sept. 30, 1996, 110 Stat. 3009-400.)
How can my Credit Fix Now.. legally charge brokers 10% of loan commissions if they are not loan officers?? THIS IS DEFINITE RESPA VIOLATION!!!
THERFOR THE CONTRACTS WE SIGNED ARE NULL AND VOID AND WE SHOULD GET OUR MONEY BACK!!
Aiza
Manassas,Virginia,
U.S.A.
Credit Fix Now is in RESPA violation
#5Author of original report
Wed, August 29, 2007
TITLE 12--BANKS AND BANKING
CHAPTER 27--REAL ESTATE SETTLEMENT PROCEDURES
Sec. 2607. Prohibition against kickbacks and unearned fees
(a) Business referrals
No person shall give and no person shall accept any fee, kickback, or thing of value pursuant to any agreement or understanding, oral or
otherwise, that business incident to or a part of a real estate settlement service involving a federally related mortgage loan shall be
referred to any person.
(b) Splitting charges
No person shall give and no person shall accept any portion, split, or percentage of any charge made or received for the rendering of a real
estate settlement service in connection with a transaction involving a federally related mortgage loan other than for services actually
performed.
(c) Fees, salaries, compensation, or other payments
Nothing in this section shall be construed as prohibiting (1) the payment of a fee (A) to attorneys at law for services actually rendered
or (B) by a title company to its duly appointed agent for services actually performed in the issuance of a policy of title insurance or (C)
by a lender to its duly appointed agent for services actually performed in the making of a loan, (2) the payment to any person of a bona fide salary or compensation or other payment for goods or facilities actually furnished or for services actually performed, (3) payments pursuant to cooperative brokerage and referral arrangements or agreements between real estate agents and brokers, (4) affiliated business arrangements so long as (A) a disclosure is made of the existence of such an arrangement to the person being referred and, in connection with such referral, such person is provided a written estimate of the charge or range of charges generally made by the provider to which the person is referred (i) in the case of a face-to-face referral or a referral made in writing or by electronic media, at or before the time of the referral (and compliance with this requirement in such case may be evidenced by a notation in a written, electronic, or similar system of records maintained in the regular course of business); (ii) in the case of a referral made by telephone, within 3 business days after the referral by telephone,\1\ (and in such case an abbreviated verbal disclosure of the existence of the arrangement and the fact that a written disclosure will be provided within 3 business days shall be made to the person being referred during the telephone referral); or (iii) in the case of a referral by a lender (including a referral by a lender to an affiliated lender), at the time the estimates required under section 2604(c) of this title are provided (notwithstanding clause (i) or (ii)); and any required written receipt of such disclosure (without regard to the manner of the disclosure under clause (i), (ii), or (iii)) may be obtained at the closing or settlement
(except that a person making a face-to-face referral who provides the written disclosure at or before the time of the referral shall attempt
to obtain any required written receipt of such disclosure at such time and if the person being referred chooses not to acknowledge the receipt of the disclosure at that time, that fact shall be noted in the written, electronic, or similar system of records maintained in the regular
course of business by the person making the referral), (B) such person is not required to use any particular provider of settlement services, and (C) the only thing of value that is received from the arrangement, other than the payments permitted under this subsection, is a return on the ownership interest or franchise relationship, or (5) such other payments or classes of payments or other transfers as are specified in regulations prescribed by the Secretary, after consultation with the
Attorney General, the Secretary of Veterans Affairs, the Federal Home
Loan Bank Board, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Secretary of
Agriculture. For purposes of the preceding sentence, the following shall
not be considered a violation of clause (4)(B): (i) any arrangement that
requires a buyer, borrower, or seller to pay for the services of an
attorney, credit reporting agency, or real estate appraiser chosen by
the lender to represent the lender's interest in a real estate
transaction, or (ii) any arrangement where an attorney or law firm
represents a client in a real estate transaction and issues or arranges
for the issuance of a policy of title insurance in the transaction
directly as agent or through a separate corporate title insurance agency that may be established by that attorney or law firm and operated as an adjunct to his or its law practice.
---------------------------------------------------------------------------
\1\ So in original.
---------------------------------------------------------------------------
(d) Penalties for violations; joint and several liability; treble
damages; actions for injunction by Secretary and by State
officials; costs and attorney fees; construction of State laws
(1) Any person or persons who violate the provisions of this section
shall be fined not more than $10,000 or imprisoned for not more than one year, or both.
(2) Any person or persons who violate the prohibitions or
limitations of this section shall be jointly and severally liable to the
person or persons charged for the settlement service involved in the
violation in an amount equal to three times the amount of any charge
paid for such settlement service.
(3) No person or persons shall be liable for a violation of the
provisions of subsection (c)(4)(A) of this section if such person or
persons proves by a preponderance of the evidence that such violation
was not intentional and resulted from a bona fide error notwithstanding
maintenance of procedures that are reasonably adapted to avoid such
error.
(4) The Secretary, the Attorney General of any State, or the
insurance commissioner of any State may bring an action to enjoin
violations of this section.
(5) In any private action brought pursuant to this subsection, the
court may award to the prevailing party the court costs of the action
together with reasonable attorneys fees.
(6) No provision of State law or regulation that imposes more
stringent limitations on affiliated business arrangements shall be
construed as being inconsistent with this section.
(Pub. L. 93-533, Sec. 8, Dec. 22, 1974, 88 Stat. 1727; Pub. L. 94-205,
Sec. 7, Jan. 2, 1976, 89 Stat. 1158; Pub. L. 98-181, title IV,
Sec. 461(b), (c), Nov. 30, 1983, 97 Stat. 1231; Pub. L. 100-242, title
V, Sec. 570(g), Feb. 5, 1988, 101 Stat. 1950; Pub. L. 102-54,
Sec. 13(d)(4), June 13, 1991, 105 Stat. 275; Pub. L. 104-208, div. A,
title II, Sec. 2103(c)(2), (d), Sept. 30, 1996, 110 Stat. 3009-400.)
How can my Credit Fix Now.. legally charge brokers 10% of loan commissions if they are not loan officers?? THIS IS DEFINITE RESPA VIOLATION!!!
THERFOR THE CONTRACTS WE SIGNED ARE NULL AND VOID AND WE SHOULD GET OUR MONEY BACK!!