|
Defendant
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Plaintiff
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Court
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Amount
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Overview
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Case Title
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Case Number
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Date Filed |
Link to Story |
| Aliyah Associates LLC |
Federal Trade Commission |
na |
na |
A settlement by two payday loan lead generation companies with the Federal Trade Commission could have implications for mortgage lead generators. Both advertised loan costs and repayment periods without disclosing annual percentage rates, in violation of the Truth in Lending Act and Regulation Z, the FTC said in a statement. |
na |
FTC File No. 072-3206 |
na |
www.mortgagedaily.com/Leads071008.asp |
| American Advisors Group |
Commissioner of Banks, Mortgage Lender & Mortgage Broker Licensing, Commonwealth of Massachusetts |
na |
na |
“Mortgage regulators in Massachusetts have issued cease-and-desist orders against four reverse mortgage companies. Among the charges were mortgage fraud, deceptive advertising and failure to comply with reverse lending requirements. |
In the Matter of First Call Mortgage Company, Inc.; In the Matter of Gold Reverse, Inc.; In the Matter of Sun West Mortgage Company, Inc.; In the Matter of American Advisors Group |
2008-022 |
na |
www.mortgagedaily.com/MassReverseLenders092508.asp |
| Assurity Financial Services LLC, and Calvin B. Hamler, Troy P. Hamler |
Washington Department of Financial Institutions |
na |
$250,000 fine plus $5,000 in costs ($125,000 suspended). |
Assurity Financial Services, and owners Calvin Hamler and Troy Hamler, were accused of sending deceptive advertisements by mail. The mailers, sent to borrowers with federally insured loans and ARMs, offered prospects hundreds or thousands of dollars in refunds and often appeared to be from the federal government. Without admitting guilt, the consumer loan company to a consent order. |
In the Matter of Determining Whether there has been a violation of the Consumer Loan Act of Washington by: Assurity Financial Services LLC, and Calvin B. Hamler, Troy P. Hamler, sole owners and managing members of Assurity Financial Services LLC |
No. C-07-320-08-CO01 |
March 5, 2008 |
www.mortgagedaily.com/WashingtonFines080808.asp |
| Direct Leadsource, Charles A. Ruppersberger IV, Golden Apple Mortgage, Foote’s Inc., New Equity LLC, and Justin Harford |
Pennsylvania Attorney General Tom Corbett |
Commonwealth Court, Harrisburg, PA |
na |
Direct Leadsource and its Baltimore owner, Charles A. Ruppersberger IV, were sued by Pennsylvania Attorney General Tom Corbett for alleged violations of Pennsylvania’s Do-Not-Call law and other statutes. Also sued was Golden Apple Mortgage, Foote’s Inc. and New Equity LLC, as well as the State College, Penn., owner of the entities, Justin Harford |
na |
na |
na |
www.mortgagedaily.com/Leads082708.asp |
| James C. Platts, Easy Realty Solutions Inc., Guaranteed Results Co., and Easy Realty Solutions LLC |
Allegheny County Court of Common Pleas |
Allegheny Court of Common Pleas |
$3.6 Million |
A Pennsylvania man has been ordered to release liens on more than 100 illegal second mortgages and return more than $2 million in illegal fees. |
James C. Platts and his companies, Easy Realty Solutions Inc., Easy Realty Solutions LLC (doing business as Fieldstone Real Estate Co.) and Guaranteed Results Company |
na |
November 15, 2007 |
www.mortgagedaily.com/JudgmentEasyRealty091808.asp |
| Linden Home Loans and its two owners, Christopher Opdyke and Mark Sullivan |
Washington Department of Financial Institutions |
na |
$75,000 fine and costs of $4,000. |
Linden Home Loans and its two owners entered into to a consent order with the state’s Department of Financial Institutions. While Linden allegedly advertised itself on television as the “home of the 1 percent mortgage” with no points and fees, the state claimed that its investigation found no borrowers actually received these terms. In addition, Linden was accused of failing to make required disclosures. |
In the Matter of Determining Whether there has been a violation of Mortgage Broker Practices Act of Washington by: Linden Loans LLC, doing business as Linden Home Loans, and Christopher W. Opdyke and Mark S. Sullivan, as sole owners and members of Linden Loans LLC |
No. C-07-366-08-CO01 |
Dec. 14, 2007 |
www.mortgagedaily.com/WashingtonFines080808.asp |
| Paramount Equity Mortgage Inc.; Hayden D. Barnard; Mathew J. Dawson; and John J. Walker |
Washington Department of Financial Institutions |
na |
$500,000 fine and nearly $10,000 in examination and investigation fees |
The California-based mortgage company is accused of deceitful advertising, faulty disclosures and unlicensed originators. |
na |
No. C-07-405-08-SC01 |
na |
www.mortgagedaily.com/LicenseParamount072308.asp |
| We Give Loans Inc. |
Federal Trade Commission |
na |
na |
A settlement by two payday loan lead generation companies with the Federal Trade Commission could have implications for mortgage lead generators. Both advertised loan costs and repayment periods without disclosing annual percentage rates, in violation of the Truth in Lending Act and Regulation Z, the FTC said in a statement. |
na |
FTC File No. 072-3205 |
na |
www.mortgagedaily.com/Leads071008.asp |
