Mortgage Fraudster Sent to Jail

A recent item in Newsday reports that Aaron Wider, a mortgage broker who lured people into mortgages which they could not pay, has been sentenced to 30 years in prison. It is about time that those who perpetrated these frauds on consumers receive the punishment which they deserve. We still wait anxiously to see if any of the executives of the nations biggest banks, who orchestrated the massive collapse of the economy are brought to justice. Unfortunately, his conviction will do little to help those who have already lost their homes or who are still in foreclosure. If you are still looking to obtain a mortgage modification, call us to discuss your options. For more information click on the following link — Newsday

Hanna & Associates Forced to Settle

Over the many years we have been representing consumers in bankruptcy and debt collection matters we have repeatedly seen lawsuits brought by Hanna & Associates. Many times our clients had no recollection of incurring the debt over which the suit was being brought. For a long time we have suspected that this debt collection firm was bringing these lawsuits without any basis. A recent article in Collections & CreditRisk reports that this very aggressive debt collector is about to settle a lawsuit brought on by the Consumer Financial Protection Board. We are pleased that this new federal consumer protection agency has aggressively gone after one of the nation’s most awful debt collection mills.

If you are currently facing a lawsuit brought by Hanna & Associates on behalf of an alleged creditor please contact this office as we may be able to provide assistance in defending against this action.

We applaud the actions of the Consumer Financial Protection Board and urge every citizen to contact the agency to applaud its good work on behalf of consumers.

If you would like more information regarding the settlement of this lawsuit please follow this link Collections & CreditRisk

Mortgage Fraud

The Consumer Financial Protection Board(CFPB) recently announced that it has ordered mortgage lender Amerisave Mortgage Corp., to pay $19.3 million for engaging in a bait and switch fraud affecting borrowers who made applications for mortgage loans from this lender.

The fraud occurred at numerous points in the borrower’s interaction with this lender. It started when the borrower first visited the company’s website and requested a quote, the quote which they received was based on an 800 FICO score. Additionally inaccurate rates and terms were posted on the company’s Website. At closing additional and unexpected fees were added to the borrower’s charges.

Ocwen is back in the news again. The New York Department of Financial Services recently reported that when has been collecting fees from distressed homeowners for force-placed Insurance through an affiliated company which practice is forbidden in New York State.

If you are considering the purchase of a home or a refinance of a home mortgage please make certain to consult with and review the documents with an attorney.

Should you require assistance with the attorneys in our office have substantial experience reviewing mortgage documents and would be pleased to assist you.

We can be reached at 732-752-8834.