The Consumer Financial Protection Bureau (CFPB) previously went after Certified Forensic Loan Auditors (CFLA) who then in return went after the CFPB.
According to the CFPB, “The Consumer Financial Protection Bureau (Bureau) filed a complaint in federal court in the Central District of California against Certified Forensic Loan Auditors, LLC (CFLA), Andrew Lehman (Lehman), and Michael Carrigan (Carrigan). The complaint alleges that CFLA and Lehman have engaged in deceptive and abusive acts and practices and have charged unlawful advance fees in connection with the marketing and sale of financial advisory and mortgage assistance relief services to consumers.”
A court order was just entered which makes for an interesting update. You see if you read this post and the comments on it you would think CFLA is being totally wronged.
So then why does Michael Carrigan, named in the CFLA lawsuit by the CFPB then agree to a stipulated final judgment with the CFPB that says:
“Defendant Carrigan must cooperate fully to help the Bureau determine the identity and location of, and the amount of injury sustained by, each Affected Consumer. Defendant Carrigan must provide such information in his or his agents’ possession or control within 14 days of receiving a written request from the Bureau.
Defendant Carrigan must cooperate fully with the Bureau in this matter and in any investigation related to or associated with the conduct described in the Complaint, including the identification of CFLA’s current and former employees and contractors and current and former customers. Defendant
Carrigan must provide truthful and complete information, evidence, and testimony. Defendant Carrigan must appear for interviews, discovery, hearings, trials, and any other proceedings that the Bureau may reasonably request upon 10 days written notice, or other reasonable notice, at such places and times as the Bureau may designate, without the service of compulsory process.”
Carrigan also agreed to a $493,403.04 civil money penalty that was suspended due to his inability to pay. He will, however, have to ” pay a civil money penalty in the amount of $5,000 by wire transfer to the Bureau.”
Carrigan also has agreed to be permanently banned from “providing, advertising, marketing, promoting, offering for sale, selling, or producing any Mortgage Assistance Relief Service or Financial Product or Service.” And also banned from “Assisting Others in, or receiving any remuneration or other consideration from, the provision, advertising, marketing, promoting, offering for sale, sale or production of any Mortgage Assistance Relief Service or Financial Product or Service.”
Just from observing what Michael Carrigan has agreed to and provide it appears the CFPB has “flipped” Carrigan to get inside information. It will be interesting to see what commenters say now.
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Its a shame that CARRIGAN couldn’t stand up to these bullies, but the harassment, intimidation, and threats as against CARRIGAN, and his family became too much to bear… CFLA has sworn affidavits of CFLA employees such as CARRIGAN being threatened by FBI Officers, as well as the DOJ with criminal charges (despite no criminal conduct even being considered) such that the aging (65) CARRIGAN did not want to keep fighting. In one scenario a CFLA Employee / Independent Contractor had his office raided without a warrant, and his Office equipment seized while being held in jail for 48 hours only to be released without charges, The Ironic thing is that CARRIGAN was never a partner at CFLA, was not one of CFLA’s highest paid employees, and despite the CFPB categorizing him as “CFLA Only Auditor” was not “irreplaceable” part of the organization. CFLA has never operated with less than 5-7 Full Time Auditors on staff, including CARRIGAN. The Auditors and Experts that originally Trained CARRIGAN back in 2012-2013 and the Experts that supervised his work during his tenure; all remain with CFLA. So if the CFPB wants to use CARRIGAN as their primary expert, despite their pleading stating “CARRIGAN WAS NOT AN EXPERT” we can match experts for experts with them. Hard to think of who the CFPB will use as their primary “EXPERT” in Mortgage Backed Securities” since the CFPB Claims “CFLA Has No Experts” Despite the fact that we have prepared more than 10,000 Securitization Audit Reports, Conducted more than 50 State Bar Approved CLE Seminars in CA, NV, IL, NY, NJ, FL, TX and GA. Not to mention the more than 500 16 Hour live Mortgage Securitization Analyst Training Sessions and 50 or more Ambassador Level Mortgage Securities Analyst Training (40 hour) Courses and testified as Expert[s] on more than 25 occasions in Court, in more than 10 States. If that doesn’t make you an Expert than I am uncertain if anyone would qualify??? The CFPB CASE IS SO WEAK… Too Bad CARRIGAN Copped a deal with the CFPB but they will need far more than that. https://www.certifiedforensicloanauditors.com/articles/11.19/cfla-moves-to-dismiss-cfpb-complaint-and-attack-constitutionality-of-the-cfpb-and-its-director.html