Relevant:
- Reverse mortgage firms fined $799,000 over deceptive consumer ads
- ftc bans advance fees on loan modifications and other foreclosure relief
- FTC Blocks Loan Mod Consultants from Collecting Upfront Fees; 3Q Loan Production Stats; Florida Extends L.O Licensing Deadline; Unrealized Losses
- Survey Finds Mortgage Bankers and Government Institutions Not Trusted by Consumers
- Bear Stearns and EMC Mortgage to Pay $28 Million to Settle FTC Charges of Unlawful Mortgage Servicing and Debt Collection Practices
2010-11-20 — bloomberg.com
"Mortgage-relief businesses also can’t claim they’re affiliated with the government and can’t say they’ll succeed in getting a lender to modify a mortgage. The companies must disclose that consumers who stop paying their mortgages could damage their credit ratings or lose their homes."
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