Federal Court Shutters Sham Mortgage Relief Operation nationalmortgageprofessional.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgageprofessional.com Daily Mail and Mail on Sunday newspapers.
U.S. District Court for the Central District of California said there was strong evidence that the sued companies illegally charged thousands of dollars with false promises that they would alter consumers' loans.
The rules, which come almost four years after California lawmakers passed a landmark disclosure law, require lenders to inform borrowers about annual percentage rates. Some lenders have pushed back, arguing that APRs don’t make sense for certain types of financing.