The Consumer Financial Protection Bureau (CFPB) has settled a case with Florida-based Fay Servicing over illegal conduct in foreclosures. The deal includes a $2 million fine and potential limitations to the CEO’s compensation.

A company spokesperson wrote to HousingWire that “Fay continues to strongly disagree with the CFPB’s claims in this matter, but we made a business decision to settle.”

“While we disagree with the CFPB’s positions, we are pleased to put this matter behind us so that we can remain focused on what we do best: supporting homeowners across the country, including during times of financial hardship,” the details ⇒

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