FTC Sends Refunds to Consumers Allegedly Deceived by First Universal Lending Mortgage Loan Modification Scheme

WASHINGTON, D.C. – August 9, 2012 – (RealEstateRama) — The Federal Trade Commission mailed more than 13,000 refund checks to consumers who were allegedly deceived by a company that claimed it would negotiate with lenders to modify the consumers’ mortgages and make them more affordable. To resolve FTC charges, First Universal Lending and its owners agreed to an order banning them from the mortgage relief services business.