Mader Law Group, American Financial law Group, Meridian Law Group, and attorney Eric Mader caught the attention of the Connecticut Department of Banking recently. According to the State site the companies were engaged in activities which triggered a closer look.
This comes on the heels of a flurry of actions against other law firms engaged in mortgage assistance services. See this link.
The State says:
“Mader Law Group was a Florida limited liability company with an office at 3902 Henderson Boulevard, Suite 206, Tampa, Florida, which at all times relevant hereto had an office at 1800 Old Okeechobee Road, Suite 103, West Palm Beach, Florida.
American Financial Law is a Florida limited liability company with an office at 5010 W. Carmen Street, Suite 2640, Tampa, Florida.
Meridian Law Group is a South Carolina limited liability company with an office at 2036 eWall Street, Suite E, Mt. Pleasant, South Carolina, which at all times relevant hereto maintained an office at 5010 W. Carmen Street, Suite 2160, Tampa, Florida.
Mader is an individual whose address last known to the Commissioner is 3710 West San Luis Street, Tampa, Florida. At all times relevant hereto, Mader was an attorney licensed to practice law in Florida and was the Managing Member of Mader Law Group and American Financial Law, and the Managing Partner of Meridian Law Group.
On June 2, 2011, two Connecticut residents entered into an Attorney Retainer and Fee Agreement (“Agreement”) with Mader Law Group, in which the Connecticut residents engaged the services of Mader Law Group in connection with negotiating a possible mitigation of such Connecticut residents’ current home loan situation.
In connection with the Agreement, the Connecticut residents referred to in paragraph 5 above made payments to Mader Law Group totaling $595, which amount is in excess of amounts that debt negotiators may charge for services pursuant to the Schedule of Maximum Fees established by the Commissioner on or about October 1, 2009 (“Schedule of Maximum Fees”).
The Schedule of Maximum Fees provides, in pertinent part, that “[a] debt negotiator of secured debt, including Short Sales and Foreclosure Rescue Services, may impose a fee upon the mortgagor or debtor for performing debt negotiation services not to exceed five hundred dollars ($500). Such fee shall only be collectable upon the successful completion of all services stated in the debt negotiation service contract”.
At no time relevant hereto has Mader Law Group been licensed to engage or offer to engage in debt negotiation in this state, nor did Mader Law Group qualify for an exemption from such licensure.
On February 27, 2012, the Commissioner received a complaint filed by the Connecticut residents referred to in paragraph 5 above concerning Mader Law Group’s failure to perform or successfully complete the services specified in the Agreement.
On July 30, 2010, a Connecticut resident executed a Limited Power of Attorney, by which the Connecticut resident engaged the services of American Financial Law in connection with negotiating a possible mitigation of such Connecticut resident’s current home loan situation.
In connection with the Limited Power of Attorney, the Connecticut resident referred to in paragraph 10 above made payments to American Financial Law totaling $2,642.42, which amount is in excess of amounts that debt negotiators may charge for services pursuant to the Schedule of Maximum Fees.
During the period of at least February 2010 through September 2010, at least eleven (11) additional Connecticut residents engaged the services of American Financial Law in connection with negotiating a possible mitigation of such Connecticut residents’ current home loan situations. Each such Connecticut resident made payments to American Financial Law in excess of amounts that debt negotiators may charge for services pursuant to the Schedule of Maximum Fees.
At no time relevant hereto has American Financial Law been licensed to engage or offer to engage in debt negotiation in this state, nor did American Financial Law qualify for an exemption from such licensure.
On November 22, 2010, the Commissioner received a complaint filed on behalf of the Connecticut resident referred to in paragraph 10 above.
During the period of at least December 2010 through August 2011, at least thirteen (13) Connecticut residents engaged the services of Meridian Law Group in connection with negotiating a possible mitigation of such Connecticut residents’ current home loan situations. Each such Connecticut resident made payments to Meridian Law Group in excess of amounts that debt negotiators may charge for services pursuant to the Schedule of Maximum Fees.
At no time relevant hereto has Meridian Law Group been licensed to engage or offer to engage in debt negotiation in this state, nor did Meridian Law Group qualify for an exemption from such licensure.
Letters from American Financial Law and Meridian Law Group were signed by Mader.
At no time relevant hereto was Mader licensed to engage or offer to engage in debt negotiation in this state, nor was Mader qualified for an exemption from such licensure.” – Source
The Mader Law Group has been given an opportunity to request a hearing over this matter.
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