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Prospect Mortgage Pays $3M Over Rate Discount Claims

By Jeff Sistrunk (October 23, 2013, 7:28 PM EDT) -- Prospect Mortgage LLC has agreed to pay a $3 million penalty and deliver restitution to homeowners after the New York Department of Financial Services discovered the company charged borrowers for interest rate discounts that never materialized, Gov. Andrew Cuomo announced Wednesday. ...

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