News & Analysis as of September 19, 2024

Loan Modifications › Federal Trade Commission (FTC)

+ Follow

Loan modifications are changes made to the terms of an existing loan outside the specifications contained in the original loan agreement. In a mortgage situation, loan modifications are typically made to assist borrowers in meeting their obligations and avoid foreclosure. Such mortgage loan modifications may include reduction of principal amount or interest rate, lengthening of loan term, and monthly payment caps. less -

FTC Joins with California DFPI to Obtain Asset Freeze Against Mortgage Relief Business

Venable LLP on 9/23/2022

Last week, the Federal Trade Commission turned its attention to the mortgage relief industry once again. In its most recent enforcement action, the FTC joined forces for the first time with the California Department of...more

Razors Raise Antitrust Worries | $86 Million Mortgage Servicing Settlement | Creative Alleged Tax Avoidance

Cozen O'Connor on 12/11/2020

2020 AG Elections- Maine AG Aaron Frey was reelected to a second two-year term by a joint convention of the Maine House and Senate. California AG Xavier Becerra was nominated by President-Elect Joe Biden to lead the...more

11th Circuit Affirms FTC's $13.5 Million Judgment Against Mortgage Relief Fraudster

Ballard Spahr LLP on 11/10/2017

On November 2, 2017, the U.S. Court of Appeals for the 11th Circuit affirmed a $13.5 million judgment that the FTC obtained against a group of individuals, law firms, and related entities that engaged in a massive nationwide...more

FTC Reaches $1.7 Million Settlement with Final Defendant in Mortgage Relief Scheme

Goodwin on 2/28/2017

On February 23, 2017, the Federal Trade Commission (FTC) announced that it entered into a settlement with the final individual defendant in an alleged mortgage relief scheme worth over $1.7 million. As a result of a...more

FTC Secures $1.8M in Restitution From Debt Relief Scammers

Goodwin on 9/26/2016

On September 22, the Federal Trade Commission (FTC) announced that the U.S. District Court for the Central District of California issued a permanent injunction prohibiting five defendants involved in mortgage relief scams...more

FTC Announces Settlement with Law Firms Over Alleged Debt Relief Scheme

Goodwin on 9/7/2016

On September 1, 2016, the Federal Trade Commission (FTC) announced it entered into a stipulated order for permanent injunction against a group of regional law firms over allegations the firms violated the Federal Trade...more

6 Results

View per page

Page: of 1