Castle & Cooke Mortgage LLC, Matthew A. Pineda, Buck L. Hawkins
In July 2013, the CFPB sued Castle & Cooke Mortgage, LLC., and its top executives, Matthew Pineda and Buck Hawkins, for “paying illegal bonuses to employees who steered home buyers toward higher-interest loans.” Castle & Cooke Mortgage allegedly ran a “quarterly bonus program that paid $6,100 to $8,700 to loan officers who persuaded consumers to take out pricier mortgages.” In November 2013, the CFPB reached a settlement with Castle & Cooke Mortgage, Pineda, and Hawkins requiring them to “pay $9.2 million for refunds to consumers who took out mortgages with higher interest rates than they needed to and for which loan officers received a bonus as a result.” They also agreed to “pay $4 million in fines.”
Inactive or Resolved
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