On July 24, 2020, the CFPB announced the issuance of consent orders against Sovereign Lending Group, Inc. (Sovereign) and Prime solution Funding, Inc. (Prime Choice).
The CFPB suggested inside their statement why these consent purchases originated from an amount of investigations by the CFPB into organizations presumably making use of misleading direct mail promotions to promote VA fully guaranteed mortgages. Both consent sales allow for civil cash charges, with Sovereign ordered to pay for $460,000 and Prime preference ordered to cover $645,000. Continue reading “CFPB Issues Consent purchases for False and Misleading Advertising for VA Mortgages”