Mortgage companies need to note their bottom line does not take precedence over the law.<\/p>\n
In the current economic climate, there are unfortunately so many financial scams, schemes and rip-offs that it\u2019s hard to keep track of who is doing an honest day\u2019s business anymore. One of the worst practices relates to negligent and exceedingly deceiving lending practices. In fact, there are a number of companies that have helped the foreclosure crisis along simply by following less than legal avenues to wring money out of unsuspecting homeowners.<\/p>\n
A recent settlement, announced by the Colorado Attorney General, illustrates the way abuse can occur. Colorado Springs Independence Planning, doing business under the name Alternative Lending of Colorado, had two top employees called on the carpet for deceptive trade practices that now face an order to repay more than $78,000 in fines and restitution.<\/p>\n
The two company officers will also have to surrender their mortgage loan originator (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Mortgage companies need to note their bottom line does not take precedence over the law. In the current economic climate, there are unfortunately so many financial scams, schemes and rip-offs that it\u2019s hard to keep track of who is doing…<\/span><\/p>\n