Online mortgage lender Amerisave Corp. on Tuesday was ordered to pay $19.3 million by the Consumer Financial Protection Bureau for deceiving tens of thousands of borrowers with a bait-and-switch mortgage-lending scheme.
According to the agency, the Atlanta-based lender advertised misleading interest rates and illegally overcharged consumers for “third-party” services provided by its affiliate, Novo Appraisal Management Co.
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