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California fines United Shore $1.4M for interest overcharges

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If you cannot afford to pay the fine, you may appear in person and request to perform community service in lieu of the fine at your arraignment date (date listed on your citation). If your case qualifies and your request for community service is granted, you may be required to pay court fees as well as community service registration and daily fees.

According to the CDBO, the settlement also requires United Shore to pay penalties to the DBO, including $1.1 million for the interest overcharges already identified, plus another $125 for each.

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United shore financial services, the parent company of United Wholesale Mortgage, will pay $1.4 million as part of a settlement with the California Department of Business Oversight, which accused the lender of overcharging "thousands" of borrowers for interest on their mortgages. But the company’s CEO says that the fine is for a long-fixed problem and [.]

California fines United Shore $1.4M for interest overcharges New Fed buys Commonwealth Mortgage to expand beyond New england lendingtree site shows consumers available home equity

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EXCLUSIVE: california regulator hits Texas lender with fine for illegal interest. The Department of Business Oversight alleged that PrimeLending charged its customers interest on mortgage loans which it had not yet funded. Included in the settlement is a total of $319,524 of refunds to hundreds of customers based on the firm’s own audit of 20,474 loan files. PrimeLending will also pay $1.3 million in penalties.

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United Shore Financial Services has agreed to pay a total of $1.4 million to consumers and California regulators to settle allegations it collected interest payments it was not entitled to.