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  3. Mortgage License Lawsuits - Second-Quarter 2010 Mortgage Litigation Index Second-Quarter 2010 Mortgage Litigation Index

Mortgage License Lawsuits – Second-Quarter 2010 Mortgage Litigation Index Second-Quarter 2010 Mortgage Litigation Index

Mortgage Daily

Published On: September 13, 2010
Mortgage License Lawsuits
Second-Quarter 2010 Mortgage Litigation Index
Regulator lawsuits and actions against improperly licensed and unlicensed mortgage companies.
Defendant
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 Case Title
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 Date Filed Link to StoryLink to Story
Home Ownership Possibilities for Everyone LLC Kentucky Department of Financial Institutions Commonwealth of Kentucky Public Protection Cabinet n/a Cease-and-desist order issued because state claims mortgage broker was unlicensed, operated fraudulently, and concealed facts. Specifically, the mortgage broker offered refinance and purchase-money mortgages at less than 2 percent with no closing costs. It is also accused of charging an illegal, nonrefundable $300 upfront membership fee and advancing fees ranging from 3 to 3.5 points that were placed in escrow accounts. Kentucky Department of Financial Institutions v. Home Ownership Possibilities for Everyone LLC 2010-AH-079 6/9/10 oldwww.mortgagedaily.com/OrderHope061510.asp

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