Freedom Mortgage

Freedom Mortgage To Pay $1.75M For Illegal Kickbacks

Posted on by TMN Editor
Freedom Mortgage has been sanctioned by the Consumer Financial Protection Bureau for providing illegal incentives to real estate brokers and agents for mortgage loan referrals. The CFPB says Freedom offered agents and brokers perks for past and future loan referrals, a violation of the Real Estate Settlement Procedures Act. In at least forty cases, Freedom paid for marketing services that were never performed by the brokerages, which the CFPB says amounts to paying for referrals. RESPA particularly addresses illegal marketing service agreements, and the CFPB released detailed guidelines on their use in 2020. Agents who worked with Freedom were also incentivized through paid subscription services offering important industry data, but they typically had to agree to be paired with a…

Mike Mell Named SVP Of Freedom Wholesale

Posted on by TMN Editor
Mike Mell has been named Senior Vice President of Freedom Mortgage’s Wholesale Division, the company announced in a press release. Mell will oversee Freedom’s national sales team, including regional sales managers and account executives throughout the U.S. “I’m thrilled to be leading Freedom Mortgage’s Wholesale Division. We’re already one of the nation’s top wholesale lenders with expertise in helping mortgage brokers close loans, especially VA and FHA products. In fact, our government lending experience is unmatched,” he said.  “I look forward to expanding our wholesale business and helping our sales partners thrive by providing their clients with the financing to achieve their homeownership dreams.” Mell brings nearly three decades of mortgage industry experience to the company. He joined Freedom Mortgage…