Tag: Real Estate and Mortgages

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The defendants in two separate alleged scams have settled charges with the Federal Trade Commission and will be banned from providing mortgage- and debt-relief services.  The cases are part of the FTC’s continuing crackdown on scams targeting consumers in financial distress, including debt relief...
The Federal Trade Commission filed suit in federal court to halt a mortgage relief scheme that allegedly deceived and preyed on distressed homeowners by charging them $2,000 to $4,000 based on bogus foreclosure rescue claims.
The Federal Trade Commission has warned the operators of six websites that share information about consumers’ rental histories with landlords that they may be subject to the requirements of the Fair Credit Reporting Act (FCRA).
The defendants behind an alleged mortgage relief scam have agreed to settle FTC charges that they deceived cash-strapped consumers into believing they could hold onto their homes and reduce their mortgage payments by either suing their mortgage lenders in so-called “mass joinder” lawsuits or buying...
The defendants behind an operation that allegedly preyed on vulnerable homeowners have agreed to settle Federal Trade Commission charges that they lured people into paying $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages.
As part of its continuing crackdown on scams that target consumers in financial distress, the Federal Trade Commission obtained a settlement order resolving charges against a nationwide scam operating from the Dominican Republic and banning the defendants from providing mortgage assistance relief. 
The Federal Trade Commission won a $2.6 million federal court judgment against three defendants behind a scheme that charged consumers large upfront fees and failed to deliver the mortgage modifications they promised.
The Federal Trade Commission is mailing 450,177 refund checks worth almost $108 million to homeowners who were allegedly overcharged by Countrywide Home Loans, Inc. As part of the FTC’s efforts to protect financially distressed homeowners, the FTC reached a settlement with Countrywide last year...
The Federal Trade Commission today issued a statement announcing that it will forbear from enforcing most provisions of its Mortgage Assistance Relief Services (MARS) Rule against real estate brokers and their agents who assist financially distressed consumers in obtaining short sales from their...
Federal Trade Commission Chairman Jon Leibowitz issued the following statement regarding this week’s ruling by the U.S. Court of Appeals for the Sixth Circuit upholding the FTC’s order in the RealComp matter.
Homeowners will be protected by a new Federal Trade Commission rule that bans providers of mortgage foreclosure rescue and loan modification services from collecting fees until homeowners have a written offer from their lender or servicer that they decide is acceptable.
The Federal Trade Commission moved to further strengthen its longstanding enforcement program aimed at preventing deceptive mortgage advertising, proposing a rule that would ban misrepresentations for all mortgages and would allow the FTC and the states to seek civil penalties against those who...
To settle Federal Trade Commission charges that its 2008 acquisition of three LandAmerica Financial, Inc. subsidiaries was anticompetitive, Fidelity National Financial, Inc. will sell several title plants and related assets in the Portland, Oregon, and Detroit, Michigan, metropolitan areas, and in...
Two Countrywide mortgage servicing companies will pay $108 million to settle Federal Trade Commission charges that they collected excessive fees from cash-strapped borrowers who were struggling to keep their homes. The $108 million represents one of the largest judgments imposed in an FTC case, and...
The Federal Trade Commission today issued an Opinion finding that Realcomp II – a Michigan-based realtors’ group – violated federal law by restricting the ability of member real estate agents to offer consumers lower-priced alternatives to traditional real estate services. Realcomp refused to...
West Penn Multi-List, Inc., the operator of the real estate multiple listing service (MLS) in the Pittsburgh, Pennsylvania metropolitan area, has agreed to settle Federal Trade Commission charges that certain restrictions on access to its MLS services were anticompetitive and violated U.S....
A Texas-based mortgage lender has settled Federal Trade Commission charges that it violated federal law by failing to provide reasonable security to protect sensitive customer data. The lender made the data vulnerable, the complaint alleges, by allowing a third-party home seller to access the data...
The Federal Trade Commission and U.S. Department of Justice (DOJ) today issued a joint report, “Competition in the Real Estate Brokerage Industry.” The purpose of the report is to inform consumers and others involved in the industry about important competition issues involving residential real...
Commission approval of reports to Congress: The Commission has authorized the staff to release publicly the 29th Annual Report to Congress on the Fair Debt Collection Practices Act (FDCPA). This report, which is available now on the FTC’s Web site, summarizes the Commission’s administration and...

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