The complaint filed by Deputy Attorney General Pat Gavin in the Eastern District of Pennsylvania accuses mortgage brokers and agents of engaging in an elaborate kickback scheme that misled consumers. These brokers, including entities like Bright Financial Group and Legacy Mortgage Partners, allegedly provided real estate agents with enticing perks in exchange for directing clients toward their mortgage services. This practice not only undermined consumer trust but violated several laws, with the total value of kickbacks potentially exceeding one million dollars. The Attorney General's office is pursuing legal action to rectify the situation and safeguard consumers.
The lawsuit alleges that Newhart and the brokers' sales practices violate Pennsylvania's Unfair Trade Practices and Consumer Protection Law, the federal Consumer Financial Protection Act and RESPA.
Buying a home can be a stressful and challenging time, and this group of mortgage brokers and real estate agents conspired to serve themselves while betraying buyers.
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