Charged with violating the Home Mortgage Disclosure Act (HMDA) by intentionally reporting inaccurate borrower information to the Consumer Financial Protection Bureau (CFPB), Freedom Mortgage Corp. has been ordered to pay a $1.75 million penalty and update its compliance procedures.
Freedom Mortgage, based in Mount Laurel, N.J., does business nationwide and is among the 15 largest mortgage lenders in the country, having originated more than 50,000 purchase loans each year between 2013 and 2016.
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