Freedom Mortgage Corporation
On October 10, 2023, the Bureau filed a lawsuit against Freedom Mortgage Corporation (Freedom), a residential mortgage loan originator and servicer headquartered in Boca Raton, Florida. In 2020, Freedom reported Home Mortgage Disclosure Act (HMDA) data on over 700,000 loans and applications and originated nearly 400,000 HMDA-reportable loans, making it the third largest mortgage lender in the United States by origination volume. In 2019, the Bureau issued an order against Freedom finding that it intentionally misreported certain HMDA data fields from at least 2014 to 2017. The Bureau now alleges that the mortgage loan data for 2020 that Freedom submitted pursuant to HMDA contained widespread errors across multiple data fields, in violation of HMDA and its implementing Regulation C. The Bureau’s complaint further alleges that by reporting inaccurate mortgage loan data for 2020, Freedom also violated the 2019 order and the Consumer Financial Protection Act of 2010 (CFPA). The Bureau seeks appropriate injunctive relief and a civil money penalty.