Mortgage Firms Avoid $ 59 Million CFPB Penalty For Now

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A couple of closed-door mortgage assistance firms and their founding attorneys persuaded the Seventh Judicial District to overturn the $ 59 million judgment the CFPB won against them.

U.S. Court of Appeals for the Seventh Circuit Ruling Friday flipped over 2019 verdict against Mortgage Law Group and Consumer First Legal Group, and four major members of these firms, for allegedly scamming consumers seeking to avoid underwater home loans.

A panel of three judges in the Seventh Circuit shortened the period during which violations occurred by several months and overturned a lower court ruling that three of …

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