Mortgage Broker
Conquest MortgageInformation and Alerts
Service Area
- PA
Alert Details
This business has 1 alert.
Government Action: BBB reports on known government actions involving business’ marketplace conduct:
Commonwealth of Pennsylvania V. Conquest Mortgage
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.
On January 17, 2025, the Pennsylvania Attorney General’s Bureau of Consumer Protection (BCP) announced the filing of a lawsuit against this firm and its manager for allegedly violating the Pennsylvania Unfair Trade Practices and Consumer Protection Law, the federal Consumer Financial Protection Act, and the Real Estate Settlement Procedures Act. The lawsuit alleges the defendants engaged in a kickback scheme involving real estate agents directing potential home buyers to the defendants and offering incentives such as discounted ownership in a joint venture mortgage brokerage company, tickets to sporting events, dinners, and other benefits. According to the lawsuit, these incentives were allegedly provided to real estate agents in exchange for steering clients toward the defendants without the buyers' knowledge, and the defendants attempted to disguise these kickbacks as stock sales and cash payments to referring real estate professionals.
The BCP seeks a permanent injunction against the defendants from continuing to engage in any deceptive or illegal business practices, civil penalties, full restitution, disgorgement, and investigation costs.
The BCP advises consumers affected by this company to contact the attorney general's office at 800-441-2555 or www.attorneygeneral.gov.
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