Kickbacks and the Home Mortgage Crisis

Posted on Apr 08, 2013

Four mortgage insurers will pay $15 million to settle charges that they paid kickbacks to mortgage lenders to steer business their way.  The four insurers are Genworth Financial unit Mortgage Insurance Corp, American International Group Inc's United Guaranty Corp, Radian Group Inc's Radian Guaranty Inc and MGIC Investment Corp's Mortgage Guaranty Insurance Corp.  The Consumer Financial Protection Bureau director Richard Cordray stated that the wrongful practice went on for over a decade.

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