MORTGAGE LOAN COMPLIANCE®

As loan modifications become more difficult to obtain some firms are turning to the dark side to get your money.  Last week the Federal Trade Commission filed complaints against two loan modification companies for allegedly making false claims that they could obtain a mortgage modification in virtually all cases.

One complaint, filed in the U.S. District Court for the Central District of California's Southern Division, charges Infinity Group Services and its president, Kahram Zamani, with violating the FTC Act by falsely representing that they would obtain a loan modification in all instances and would allegedly obtain loan refinancing for an up-front fee.

The other complaint, filed in the U.S. District Court for the District of Columbia, charges Nations Housing Modification Center and its principals, Michael A. Trap, Glenn S. Rosofsky, and Bryan P. Rosenberg, with violating the FTC Act and the FTC's Telemarketing Sales Rule by allegedly misrepresenting themselves as a government agency and falsely claiming to obtain mortgage modifications for consumers. The FTC alleges that very few homeowners got modifications and the defendants accepted advance fees for their services.

The Federal Trade Commission alleges that Infinity Group Services often failed to obtain loan modifications and either failed to answer or return consumers' telephone calls or update them about their status.

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Mortgage Loan Compliance®

www.ml-compliance.com

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