Founder of JMG. ☑️America’s #1 Real Estate Team. ☑️2nd fastest growing brokerage in USA. ☑️#1 B2B Brokerage in the nation.Servicing national lenders, national search co’s and national networks.40BB/yr annual referrals
Early today the CFPB filed a lawsuit against JMG making false claims about steering. This past Friday, after 3 years of going back and forth I was offered a settlement from the CFPB for 200k to be done and move on. I could have easily taken that route. HOWEVER, The “terms” of the consent order would have admitting things that simply are not true. I found myself saying do I put this behind me or do I fight and stand up for what’s right. I choose to stand up and fight because JMG is being used as a pawn in this case. So, we will prove our point and go from there. It’s not the easy road but honestly the easy road was wrong. Have to stand up when you know you are right even if the easy road is, well, easy.
Thanks for standing up to the bully CFPB. Ignore the haters. You have a solid business model and a great reputation. Integrity means not compromising your values. Good luck to you and JMG. Wishing you all the best in 2025!
This sucks all around. I see your point 100% and I hate that this is on your mind during the holiday season especially. However, I also see big box lenders sending agents leads and then penalizing agents if they don’t close with the referring lender (even though the client was significantly better off working with the alternate lender). Whether anyone wants to admit it or not, clients are steered regularly. At the end of the day, the client loses. I can see this being why CFPB is going after the “big fish”.
Not sure if the internet is the place to “vent” about something that possibly is about to turn your life upside down. Only more circumstantial evidence for them. If “friends” told you to make this video not sure if you should listen to those “friends”. You are paying an attorney to advise, listen to them. Once it all crashes and burns, the “friends” will vanish in thin air!
Hey Jason , Wishing you good luck with all this !!! Hang in there !! Question …. Why doesn’t the CFPB go after the builders that own their own mortgage company , Title company , realty co ??? They will pay closing costs if you use their companies….. ONLY !! They are making money on everything !!!! Steering ????
It's a shake down, it is all about making money to fund the CFPB. They have no budget, easier to hit one big target to get funding for a year. It costs too much to hit small real people who intentionally commit fraud. Most companies settle to save money as their insurance carrier really pays the claim. Easier to settle and make it go away and keep their name out of the news. Also when insurance companies reach a deal of 200k, if you do I not settle, you are responsible for any amount over the 200k so since it costs nothing but a thousand dollar deductible, the company settles. I applaud you for not settling. Another issue is attorneys know this so they sue knowing it is an easy paycheck even when their case is very weak. It's all about money.
Jason, thank you for standing up for what's right—something few people do today. Bullies back down when enough people push back. Share your story widely and aim to make it go viral. Involve the news media and bring it to the attention of influential figures like Elon Musk, Vivek Ramaswamy, your Congressman, and Senator. When dozens, hundreds, or even thousands unite against the CFPB's bullying practices, we can push Congress to either abolish them or place them under proper congressional oversight.
Jason, It sounds like a lose-lose proposition for you. Ask any attorney about the sticky bun. The long term loss is, time and energy. You will spend too much energy in a negative state, fighting rather than producing. Always think of your long term goal. If fighting helps you get there, then by all means go for it. I'm sorry you have to go through this, they always want to take down the guys on top. Either way, you will prevail, because you are too good. Good Luck my friend.
Appreciate you taking the high road and standing up for truth! See if PB does not protect consumers. The organization itself and the requirements they place upon the mortgage industry create confusion for consumers and businesses like yours and mine. I’m still trying to figure out why it matters to disclose and advertise mortgage loan with an APR, doesn’t make sense!
President, CEO SIFT, formerly CardX West (Secure Innovative Finacial Technologies) Managing Partner, SurePaths, Entrepreneur, Investor, Advisor
1moJason, the CFPB seems to strong arm settlements in order to proffer leverage along the way as it hunts bigger game. Your position not only protects and preserves your business practices and personal integrity but goes further by protecting other business in the future through the precedent you set when you prevail and you most certainly will!