Regulatory Alerts2025-10-08
Consent Agreement and Order: Rates For Us, LLC
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Rates For Us, LLC for violating the Mortgage Licensing Act by committing to close mortgage loans in its own name. The regulator determined that the company's issuance of pre-approval letters constituted prohibited conduct under Section 6123(a)(7) of the statute. As part of the settlement, Rates For Us, LLC agreed to pay a $127,500 fine and comply with all applicable mortgage loan business regulations.
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