Florida-based V.A.-focused mortgage lender NewDay USA has reached an agreement with the Consumer Financial Protection Bureau (CFPB) over allegations that it provided misleading and incomplete cost comparisons to borrowers seeking cash-out refinance loans, the parties announced on Thursday. 

The deal, which includes a $2.25 million civil penalty, was reached without the company admitting or denying any of the findings, according to the consent order. NewDay USA wrote in a statement to HousingWire that the settlement is over “minor reporting errors that caused no financial harm to Veteran borrowers.”

The CFPB alleges that NewDay provided details ⇒

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