|
Defendant
|
Plaintiff
|
Court
|
Amount
|
Overview
|
Case Title |
Case Number
|
Date Filed | Link to StoryLink to Story |
| 1st American Inc. and owner Eric Otterholt | Oregon Division of Finance and Corporate Securities | na | $26,000 in fines were suspended | Portland-based 1st American Inc. and owner Eric Otterholt were ordered to cease and desist from unethical practices and failing to supervise. The action was prompted by an originator at the company who provided inaccurate loan documents that indicated more funds were available than what actually occurred. | na | na | na | www.mortgagedaily.com/OregonLicenses081408.asp |
| Allegiance Mortgage LLC and Brian Fallini | Oregon Division of Finance and Corporate Securities | na | $50,000 fine | A cease-and-desist order was issued against Allegiance Mortgage LLC. In addition, the mortgage broker’s lending license was revoked and the company, along with owner Brian Fallini, was fined $50,000. | na | na | na | www.mortgagedaily.com/OregonLicenses081408.asp |
| First Call Mortgage Company, Inc. | 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. | 2008-020 | na | www.mortgagedaily.com/MassReverseLenders092508.asp |
| Gold Reverse, Inc. f/k/a Pacific Community Mortgage, Inc. | 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 Gold Reverse, Inc. | 2008-023 | na | www.mortgagedaily.com/MassReverseLenders092508.asp |
| Pacific Crest Funding Inc. and co-owner, Dean Schmidt | Oregon Division of Finance and Corporate Securities | na | Pacific Crest Funding Inc was fined $20,000 ($10,000 suspended); Schmidt was fined $5,000 ($4,000 suspended). | Pacific Crest Funding Inc., faced a cease-and-desist order for failing to supervise one loan officer and failing to ensure that its originating co-owner, Dean Schmidt, completed required training. | na | na | na | www.mortgagedaily.com/OregonLicenses081408.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 |
| Sun West Mortgage Company, Inc. | 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 Sun West Mortgage Company, Inc. | 2008-021 | na | www.mortgagedaily.com/MassReverseLenders092508.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 | Nov. 15, 2007 | www.mortgagedaily.com/JudgmentEasyRealty091808.asp |
