twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


Mortgage Advertising Lawsuits
Third Quarter 2009 Mortgage Litigation Report

main report page

Lawsuits about mortgage advertising, bait and switch ads, deceptive ads and do-not-call violations.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to Story
Ace Group, Inc. a Delaware corporation, also d/b/a American Credit Experts, Inc., The Ace Group, Inc., The Ace Group, and Ace, Legal Credit Repair Center, Inc., a Florida Corporation, also d/b/a LCRC, Michael Singer, Melvin Kessler, and Gerald Roth Federal Trade Commission United States District Court Southern District of Florida $21 million judgment, suspended as long as defendants Singer and Roth pay $5,000 each The FTC announced a settlement with defendants whom the FTC alleged promised to remove negative but accurate credit items, including bankruptcy, for an initial fee of $59.95 and monthly fees of $59.95. Dispute letters sent to credit reporting agencies by defendants failed to improve credit reports. As part of the settlement, the defendants are barred from violating the Credit Repair Organizations Act by charging advanced fees or claiming they can permanently remove negative items. Federal Trade Commission et al v. The Ace Group,Inc. et al. No. 0:08-CV-61686-PAS 10/20/2008 www.mortgagedaily.com/Credit072809.asp
Equifax, Inc.; Experian Information Solutions, Inc.; TransUnion LLC; VantageScore Solutions LLC. Fair Isaac Corporation (now operating as FICO); myFICO Consumer Services, Inc. U.S. District Court for the District of Minnesota n/a A claim that one of the three credit agencies violated its contract with FICO by developing a competing credit scoring model was dismissed. The judge also dismissed claims of antitrust violations and false advertising. Fair Isaac Corp.. et al. v. Equifax, Inc. et al. 0:06-cv-04112-ADM-JSM 10/11/2006 www.mortgagedaily.com/LawsuitVantageScore073009.asp
Apply2Save, Inc. a corporation, Sleeping Giant Media Works, Inc., a corporation, and Derek R. Oberholtzer, individually and as an officer of Apply2Save, Inc., and Sleeping Giant Media Works, Inc. Federal Trade Commission United States District Court for the District of Idaho n/a The FTC asked the court for consumer redress and a permanent ban on deceptive practices alleging defendants promised loan modifications in 30 to 90 days for advanced fees up to $995, however, defendants failed to obtain those modifications and for most consumers, were unable to stop foreclosure. Federal Trade Commission v. Apply2Save, Inc. et al. FTC File No. 092 3117 July 14, 1009 www.mortgagedaily.com/LawsuitsForeclosure071509.asp
Foreclosure Solutions, LLC, and Timothy A. Buckley Federal Trade Commission United States District Court for the Northern District of Ohio, Eastern District n/a The FTC reported a Stipulated Final Judgment against defendants who were accused of falsely claming years of experience in loan modifications, falsely touting high success rates and violation the FTC's Do Not Call Rule by calling borrowers on the National Do Not Call Registry. Federal Trade Commission v. Foreclosure Solutions, LLC et al. No. 1:08-cv-01075 4/28/2008 www.mortgagedaily.com/LawsuitsForeclosure071509.asp
Loss Mitigation Services, Inc., Synergy Financial Management Corporation, also d/b/a Direct Lender and DirectLender.com, Dean Shafer, Bernadette Carr-Perry, and Marion Anthony (a.k.a. "Tony") Perry Federal Trade Commission United States District Court Central District of California n/a The FTC asked the court for consumer redress and a permanent ban on deceptive practices alleging defendants charged up to $5,500 in advance, misrepresented its relationship with servicers and falsely promised to obtain a modification. Federal Trade Commission v. Loss Mitigation Services Inc. et al. No. 09-CV-800 7/13/2009 www.mortgagedaily.com/LawsuitsForeclosure071509.asp
LucusLawCenter "Incorporated", a corporation, also d/b/a Lucas Law Center, Future Financial Services, LLC, a limited liability company, also d/b/a Lucas Law Center, Paul Jeffrey Lucas, an individual, Christopher Francis Betts, an individual, and Frank Sullivan, an individual Federal Trade Commission United States District Court Central District of California Southern Division n/a The FTC asked the court for consumer redress and a permanent ban on deceptive practices alleging defendants charged advanced fees up to $3,995 and told borrowers to stop making their payments to demonstrate consumers' hardship to the lender in order to obtain a home loan modification. In numerous instances, defendants failed to obtain mortgage loan modifications. Defendants have also failed to give promised refunds to consumers when they could not in fact obtain home loan modifications. Federal Trade Commission v. Lucaslawcenter "Incorporated" a corporation et al. No. 09-CV-770 7/7/2009 www.mortgagedaily.com/LawsuitsForeclosure071509.asp
US Foreclosure Relief Corp., a corporation, also, d/b/a U.S. Foreclosure Relief, Inc., Lighthouse Services, and California Foreclosure Specialists, George Escalante, individually and as an officer of US Foreclosure Relief Corp., Cesar Lopez, individually and doing business as H.E. Service Company, and Adrian Pomery, Esq., individually and also trading and doing business as Pomery & Associates Federal Trade Commission, The People of the State of California, and the State of Missouri United States District Court Central District of California n/a The FTC asked the court for consumer redress and a permanent ban on deceptive practices alleging defendants falsely claimed they could obtain home loan modifications, falsely claiming years of experience and success in obtaining modificiations, and violating the telemarketing sales rule and the National Do Not Call Registry. Federal Trade Commission et al. v. US Foreclosure Relief No. 09-CV-768 7/7/2009 www.mortgagedaily.com/LawsuitsForeclosure071509.asp
Best Interest Rate Mortgage Company, LLC New Jersey Attorney General Superior Court of New Jersey Chancery Division- Essex County na State alleges Best Interest Rate Mortgage Company LLC of violations of Consumer Fraud Act and New Jersey Debt Adjustment and Credit Counseling Act in relation modification services. Best operated without a state license, offered misleading solicitations that the firm represented a government agency, and charged excessive up-front fees. Milgram v. Best Interest Rate Mortgage Company, LLC na 7/10/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
FHA Allday.com, Safety Financial Services, Inc., Housing Assistance Law Center, PA, Housing Assistance Now, Inc., Jason Vitulano Florida Attorney General Circuit Court for Palm Beach County, Florida 15th Judicial Circuit na Firm allegedly charged excessive up-front fees for loan modification services in addition to illegally using Barack Obama's voice in marketing phone calls and claiming to have an in-house staff of attorneys when no such staff existed. Also alleged are violations of the Foreclosure Fraud Prevention Act. State of Florida v. FHA Allday.com, Inc. et. al. 2009CA024341 7/20/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
Home Relief Services, LLC, The Diener Law Firm, Golden State Funding, Inc., Payment Relief Services, Inc., Christopher Diener, Kathleen Marrero-Davis, Terence Green Sr, Stefano Marrero, Maya Burrell Marrero, Ronald C. Specter, Kenneth Buhler, Does 1-100 California Attorney General Superior Court of the State of California, County of Orange $10 million Firm is alleged to have charged excessive up-fron fees for loan modifications and failed to provide services to clients. The People of the State of California v. Home Relief Services, LLC et al na na www.mortgagedaily.com/ModificationLitigation081209.asp
Hope for Homeowners Now, LLC, Matthew Castaneda and Jane Doe Castaneda, Michael Winding and Jane Doe Winding Arizona Attorney General Superior Court of Arizona, Maricopa County $155,000 Defendants allegedly charged excessive up-front fees for loan modification services. Default judgment entered against defendants for failure to appear on Sept. 28, 2009 State of Arizona v. Hope for Homeowners Now, LLC, et. Al CV2009-022275 Sept. 28, 2009. www.mortgagedaily.com/ModificationLitigation081209.asp
Loan Modification of America LLC, Kardakh Natto, John Saro Arizona Attorney General Superior Court of Arizona, Maricopa County na Defendant is alleged to have falsely advertised a 90% success rate in modifying clients mortgages and falsely offering a 100% money back guarantee State of Arizona v. Loan Modification of America LLC CV2009-022274 7/14/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
Loan Modification Professional Services Arizona Attorney General Superior Court of Arizona, Maricopa County na Defendant is accused of collecting between $1,500 and $3,500 from eight customers who claim they never received the services they were promised. na na na www.mortgagedaily.com/ModificationLitigation081209.asp
RMR Group Loss Mitigation, LLC, Living Water Lending, Inc., Shippey & Associates, PC, Michael Scott Armendariz, Ruben Curiel, Ricardo Haag, Karla Shippey, Arthur Aldridge, Does 1-100 California Attorney General California Superior Court, Orange County na Firm is charged with falsely advertising a 98% success rate and a money-back guarantee while charging excessive up-front fees. The People of the State of California v. RMR Group Loss Mitigation, LLC, et al. No. 30-2009-00125952 7/13/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
Santoya Financial Company LLC, Thomas J. Montoya, Robert Sanchez Arizona Attorney General Superior Court of Arizona, Maricopa County na Santoya is alleged to have falsely advertised that the HUD endorsed the firm's services and that modification fees were refundable in the event loan modification attempts are unsuccessful. State of Arizona v. Santoya Financial Company CV2009-022369 7/13/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
Sean Cantkier; Scot Lady; Jeffrey Altmire; Michael Haller; Lisa Roye; Alan Lestourgeon; Kean Lee Lim; Greg Rivera; Neil Sperry. Federal Trade Commission U.S. District Court for the District of Columbia n/a Defendants allegedly attempted to divert homeowners searching for www.MakingHomeAffordable.gov, a government endorsed Web site, to Web sites that charge fees for the same services. At the Federal Trade Commission's request, the Court entered orders barring eight of the defendants from engaging in the allegedly illegal conduct. FTC v. Cantkier. [Formerly FTC v. One or More Unknown Parties Misrepresenting Their Affiliation with the Making Home Affordable Loan Program] 09-CV-00894, FTC File No. 092 3147 5/14/2009 www.mortgagedaily.com/Modifications072409.asp
Statewide Financial Group, Inc d/b/a/ US Homeowners Assistance, US Homeowners Preservation Center, Inc., US Homeowners Preservation Center of America, Hakimullah Sarpas, Zulmai Nazarai, Sharon Fasela, Rasha Yehia Melek California Attorney General California Superior Court, Orange County na Firm is charged with falsely advertising a 98% success rate and implying it was a government agency, and charging up-front fees while not providing services to the clients The People of the State of California v. Statewide Financial Group, Inc. et al na 7/13/2009 www.mortgagedaily.com/ModificationLitigation081209.asp
US Homeowners Asstistance Ohio Attorney General, Ohio Department of Commerce Hamilton County Court of Common Pleas, State of Ohio na Alleged violations of the Ohio Consumer Sales Practices Act, Telephone Solicitation Sales Act, Debt Adjusters Act, and Telephone Consumer Protection Act. Customers were charged $1,800 for responding to automated solicitation phone calls, and the State alleges failure to provide services to clients. NA na na www.mortgagedaily.com/ModificationLitigation081209.asp
Mortgage Advertising News | Mortgage Advertising
Reach mortgage executives, mortgage brokers and other people in mortgage lending.
read more | media kit | purchase ad online | ad specials | e-mail | 214.521.1300



Logout forgot
password?
Repurchase News
Coverage of repurchase demands, expense and and litigation.

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders