CFPB Announces Settlement with Mortgage Lender and Its Owner Charged with “bait-and-switch” Scheme

By | CFPB Monitor | August 14, 2014
CFPB Announces Settlement with Mortgage Lender and Its Owner Charged with “bait-and-switch” Scheme

On August 12, the CFPB announced that it has issued a Consent Order under which Atlanta-based Amerisave Mortgage Corporation, its affiliate appraisal management company, Nova Appraisal Management Company, and a principal and indirect owner of both companies, Patrick Markert, agreed to pay nearly $21 million for deceiving and overcharging consumers in a bait-and-switch mortgage-lending scheme.