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Mortgage Related

Orange County Mortgage Modification Telemarketers Arrested

Dead man walking - Sad prisoner with handcuffs in prison with orange clothes

Seven Orange County residents were arrested Tuesday morning and face federal fraud charges in connection with a boiler-room mortgage loan scheme that required homeowners to pay thousands in upfront fees. A federal grand jury in Connecticut returned an indictment on: • Aria Maleki, 33, Santa Ana; • Serj Geuttsoyan, aka Anthony Kirk, 33, Santa Ana; • Mehdi Moarefian, aka Michael ... Read More »

    Familiar Names Banned from Selling Mortgage Help

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    Some familiar names just struck a deal with the Federal Trade Commission. Four mortgage modification scammers, Brian Pacios, Chad Caldaronello, Justin Moreira and Derek Nelson will be banned from selling debt relief products and services under settlements resolving Federal Trade Commission charges that they deceived homeowners facing foreclosure. The settlements stem from a complaint the FTC filed against Pacios, Caldaronello, ... Read More »

      DOJ Holds Mortgage Company Accountable for Unreasonable Loans

      Department of Justice DOJ

      Franklin American Mortgage Company has agreed to pay the United States $70 million to resolve allegations that it violated the False Claims Act by knowingly originating and underwriting mortgage loans insured by the U.S. Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) that did not meet applicable requirements, the Justice Department announced today. Franklin American is headquartered ... Read More »

        Mortgage Modification Representative Gets 10 Years in Jail

        Jail

        United States Attorney for the Northern District of Indiana, David Capp, announced that Brian M. Kandefer, age 37, of San Diego, California, was sentenced Wednesday, November 18, 2015, in federal court by Judge Robert L. Miller, Jr. after his guilty plea of wire fraud and money laundering. Brian Kandefer was sentenced to 121 months imprisonment and ordered to pay $1.4 ... Read More »

          Camden Legal Group – What Do You Think?

          Many multicolor question marks above the head of young man or boy. Making decision thinking uncertainty learning concept. EPS 10 vector illustration no transparency

          Previously I answered a reader question about a company called Camden Legal Group. You can see it here. In this post I’m going to do things a bit different. I’m just going to publish the facts that I have and I’m going to encourage you to post a comment with your opinion of Camden Legal Group. This story all began ... Read More »

            Has the Consumer Protection Counsel Closed Up Shop?

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            A reader let me know they think the Florida based group, Consumer Protection Counsel (CPC), has closed up shop. CPC has been in the news here and it is uncertain if they are really closed since their website now looks like it mostly is not working. As it stands right now, there is no contact information available on their website. ... Read More »

              More California Mortgage Modification Scammers Head to Jail

              Dead man walking - Sad prisoner with handcuffs in prison with orange clothes

              Four people who worked at a Rancho Cucamonga business that offered bogus loan modification programs to thousands of financially distressed homeowners – victims who lost more than $7 million when they paid for services that were never provided – were sentenced today to federal prison, with one of the leaders of the scheme being ordered to spend 20 years in ... Read More »

                Four Years Later, Consumers Get Pennies From Debt Relief Scam

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                Four years ago now the California Department of Justice swooped in an shut down an enterprise they claimed was taking advantage of consumers who were seeking mortgage modification or actions against the mortgage company. More can be read here. The parties named in the original action included: Attorneys Processing Center, LLC, also doing business as Attorney Processing Center, and Processing ... Read More »

                  Another Lawyer Loses License Thanks to Debt Relief Industry

                  oops

                  I can remember a time when Resolution Law Group and The Resolution Law Group were company names I heard frequently. Well today I heard it again. The Tampa Bay Times is reporting that attorney Ian Berger who was involved with Resolution Law Group, has lost his law license. He can try to get it back in five years. Berger says, ... Read More »

                    Paymap and LoanCare Nailed for Stupid Simple Reason

                    CFPB-1801

                    Yesterday the Consumer Financial Protection Bureau announced they took action against companies that sold consumers on an equity accelerator program. Typically these programs make payments every two weeks instead of once a month and that gives people one extra mortgage payment a year to reduce the balance owed faster. But the unbelievable part of this program delivery is contained in ... Read More »

                      Debt Relief Owners and Salespeople Headed to Jail for Fraud

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                      On June 9, 2015, a federal jury convicted three California residents who worked at a Rancho Cucamonga, Calif., business that offered bogus loan modification programs to thousands of financially distressed homeowners who lost more than $7 million when they paid for services, including loan modifications, that were never provided. The three Southland, Calif., residents were associated with a telemarketing operation ... Read More »

                        Court Halts Mortgage Relief Operation that Targeted Homeowners Facing Foreclosure

                        Woman in home office with computer and paperwork frowning

                        Some People Lost Their Homes: Paid Defendants Instead of Making Mortgage Payments At the Federal Trade Commission’s request, a federal court halted a sham operation that allegedly told financially distressed homeowners it would help get their mortgages modified, but instead effectively stole their mortgage payments, leading some to foreclosure and bankruptcy. The FTC seeks to permanently stop the scheme and ... Read More »

                          Family Makes Their Mortgage Payments But Gets Foreclosed On Anyway

                          oops

                          How ridiculous would it be if you made all your mortgage payments in full and on time for years and your mortgage lender foreclosed on you anyway? Surely that could never happen. Unfortunately, that’s exactly what happened to Henry and Elizabeth Manfrediz, a lovely married couple with four kids and a cute dog, who live in Florida. Henry and Elizabeth ... Read More »

                            Home Relief Foundation Defendants Barred from Selling Debt Relief Services

                            ftc

                            FTC Case Was Brought as Part of Multi-Agency Crackdown on Mortgage Relief Scams Austin, Texas-based Home Relief Foundation, Inc. and its two owners have settled Federal Trade Commission charges that they illegally charged up-front fees for services they falsely promised would reduce consumers’ mortgage interest rates or monthly payments. The settlement order prohibits the defendants from selling debt relief products ... Read More »

                              CC Brown Players Charged in Mortgage Modification Scheme

                              law books

                              WASHINGTON, DC – Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Carlie Christensen, United States Attorney for the District of Utah, today announced that a 40-count federal indictment unsealed on March 5, 2015, in U.S. District Court in Salt Lake City charges six individuals with violations of federal law in what the indictment alleges was ... Read More »

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