Veterans United Residence Loans ordered to pay for $1.1 million for overcharging on VA loans

Veterans United Residence Loans ordered to pay for $1.1 million for overcharging on VA loans

NYDFS investigation discovered company didn’t correctly refund loan provider credits

Mortgage Research Center, which does company as Veterans United mortgages and VAMortgage Center, can pay a lot more than $1.1 million to stay allegations that the financial institution overcharged on loans mainly insured because of the Department of Veterans Affairs.

The latest York Department of Financial Services announced the settlement this week, saying that the division research discovered that Veterans United didn’t reimbursement surplus “lender credits” on at the least 322 loans from January 2010 through June 2014. (more…)

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