MCCB bids to close broker fee loophole

Duncan, Chris
September 2001
Money Marketing;9/20/2001, p3
Reports that several mortgage brokers are resorting to underhand tactics to avoid Consumer Credit Act (CCA) rules on refunding fees according to the Mortgage Code Compliance Board. Examples of ways in which brokers avoid CCA rules on refunding fees; Percentage of consumer complaint that concerned failure of brokers to refund fees; Key factor motivating brokers to find ways to avoid refunding fees.


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