Search Results: Loan Modification

FTC Reaches $1.7 Million Settlement with Final Defendant in Mortgage Relief Scheme

FTC

On February 23, 2017, the Federal Trade Commission (FTC) announced that it entered into a settlement with the final individual defendant in an alleged mortgage relief scheme worth over $1.7 million. As a result of a joint federal-state enforcement sweep known as “Operation Mis-Modification,” the FTC filed a complaint in…

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FTC Secures $19.4 Million in Judgments Over Mortgage Relief Scheme

FTC

On January 11, 2017, the Federal Trade Commission (FTC) announced that it had agreed to two stipulated orders (available here and here) with individuals who participated in an alleged fraudulent mortgage relief scheme.  According to the FTC, the individuals promised consumers “at least $75,000” or complete relief on their mortgages through a “mass joinder lawsuit.”  The…

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Pennsylvania AG Sues Financial Services Company for Defrauding Veterans

On May 5, 2016, the Pennsylvania Attorney General announced the filing of a civil lawsuit in the Clinton County (PA) Court of Common Pleas against an Ohio financial services company and its owner for misleading at least four Pennsylvania consumers, including three military veterans.  The lawsuit states that the company catered specifically to…

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California Man Pleads Guilty to Criminal Charges Relating to HAMP Modification Scheme

On May 4, 2016, the United States Attorney for the Southern District of New York and the Special Inspector General of the Troubled Asset Relief Program (SIGTARP) announced that a California man was found guilty of de​fraudin​g over 30,000 homeowners out of $31 million through a large mortgage modification scheme.​ The defendant was…

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Washington AG Settles Lawsuits with Six Student Loan Adjustors for Alleged Deceptive Practices

On April 7, 2016, the Washington Attorney General (“AG”) announced settlements with six student loan adjustment companies which were alleged to have “preyed on students” by charging excessive fees. The Washington AG claimed that these firms violated Washington’s Debt Adjustment Act and Consumer Protection Act by overcharging 346 Washington students…

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CFPB Obtains Final Judgment in Illegal Fees Case Against Debt Relief Company

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On March 18, 2016, the Consumer Financial Protection Bureau (CFPB) announced that a federal district court entered final judgment against a debt relief company over allegations the company charged illegal upfront fees and engaged in other deceptive business tactics. The CFPB filed suit against the company in 2013, alleging violations of the…

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FTC Secures Temporary Restraining Order Against Debt Relief Services Provider

FTC

​On February 25, the Federal Trade Commission (FTC) announced​​ that on February 16, the U.S. District Court for the Southern District of California entered a temporary restraining order against ​a debt relief provider that allegedly ​​deceptively marketed home loan modification services and student loan modification services.  The Complaint alleged that for several months…

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HUD Files Charges Against Home Loan Modification Providers That Allegedly Targeted Hispanic Homeowners

​On January 12, the U.S. Department of Housing and Urban Development (HUD) announced that it filed administrative charges against three California home loan modification assistance companies and their employees, alleging that they targeted Hispanic homeowners by charging thousands of dollars for services that were never provided or were ineffective.  HUD’s…

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