In Washington, D.C., today, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced that four mortgage insurance companies are facing enforcement actions for illegally providing inflated "reinsurance" payments to mortgage lenders "in exchange for referring business to them," according to a press release from the bureau. The CFPB’s investigation revealed that these mortgage insurance companies used subsidiaries to funnel millions of dollars to lenders as payments for reinsurance, which is additional insurance to protect lenders against the risk of default on loans made to home buyers that "cannot make a 20 percent down payment," the release said. For more, read the full press release.