Federal Trade Commission
Defendants in Dominican Mortgage Assistance Scam that Allegedly Defrauded Spanish-Speaking U.S. Homeowners Settle FTC...
WASHINGTON, D.C. - January 08, 2012 - (RealEstateRama) -- 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 ope...
FTC Warns Mortgage Advertisers that Their Ads May Violate Federal Law
WASHINGTON, D.C. - November 19, 2012 - (RealEstateRama) -- After reviewing hundreds of mortgage advertisements, the Federal Trade Commission staff has sent letters to 20 companies, warning them that their ads may be deceptive.
FTC Begins Refund Process for Consumers Harmed by Mortgage Foreclosure ‘Rescue’ Scheme
WASHINGTON, D.C. - November 12, 2012 - (RealEstateRama) -- To help Spanish-speaking consumers recover money lost to a scam that promised to stop foreclosure or obtain mortgage loan modifications, the Federal Trade Commission mailed claim forms this wee...
FTC Warns Consumers: Charity and Home Repair Scams May Appear After a Disaster
WASHINGTON, D.C. - October 31, 2012 - (RealEstateRama) -- In the wake of Hurricane Sandy, the Federal Trade Commission reminds consumers that scams often follow disasters. The nation’s consumer protection agency warns people about urgent appeals for...
FTC Cracks Down on Phony Mortgage Relief Schemes
WASHINGTON, D.C. - October 9, 2012 - (RealEstateRama) -- The Federal Trade Commission has filed three separate suits in federal court to halt the allegedly deceptive tactics of three operations that preyed on distressed homeowners by falsely claiming t...
FTC Staff Submits Comment to CFPB on Mortgage Disclosure Forms
WASHINGTON, D.C. - October 2, 2012 - (RealEstateRama) -- The Federal Trade Commission’s staff submitted a comment to the U.S. Consumer Financial Protection Bureau on disclosure forms designed to help consumers understand the features, costs, and risk...
FTC Approves Modified Final Order Settling Charges that CoStar’s $860 Million Acquisition of LoopNet...
WASHINGTON, D.C. - August 30, 2012 - (RealEstateRama) -- Following a public comment period, the Federal Trade Commission has approved a modified final order settling charges that CoStar Group, Inc.'s $860 million acquisition of Loopnet would have been ...
FTC Warns Consumers: Charity and Home Repair Scams May Appear After a Disaster
WASHINGTON, D.C. - August 30, 2012 - (RealEstateRama) -- As Hurricane Isaac strikes the Gulf Coast, the Federal Trade Commission reminds consumers that scams often follow disasters. The nation’s consumer protection agency warns people about urgent ap...
At FTC’s Request, U.S. Court Hands Down Record $478 Million Judgment Against Marketers of...
WASHINGTON, D.C. - August 24, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a U.S. district court ordered the marketers of three get-rich-quick systems, including “John Beck's Free & Clear Real Estate System,” to p...
FTC Sends Refunds to Consumers Lured by Money-Making Scam
WASHINGTON, D.C. - August 10, 2012 - (RealEstateRama) -- The Federal Trade Commission is mailing 9,282 refund checks to consumers who were deceived by false promises that they could earn substantial income if they bought and followed the "Stefanchik Pr...
FTC Sends Refunds to Consumers Allegedly Deceived by First Universal Lending Mortgage Loan Modification...
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' mortg...
FTC Action Halts Dominican Mortgage Assistance Scam That Allegedly Defrauded Spanish-Speaking U.S. Homeowners of...
WASHINGTON, D.C. - July 30, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a U.S. district court has halted a nationwide scam operating from the Dominican Republic – but pretending to be in Chicago – that allegedly peddl...
FTC and Florida Attorney General Sue Timeshare Rental/Resale Operation for Deception
WASHINGTON, D.C. - July 19, 2012 - (RealEstateRama) -- The Federal Trade Commission and Florida Attorney General Pam Bondi brought legal action against a timeshare rental/resale telemarketing business and its owner for allegedly deceiving thousands of ...
Operators of “Debt Advocacy” Firm Settle with FTC, Must Pay More than $750,000
WASHINGTON, D.C. - June 21, 2012 - (RealEstateRama) -- The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanentl...
FTC Action Halts Alleged “Forensic Audit” Scam that Targeted Consumers in Danger of Losing...
WASHINGTON, D.C. - June 13, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a U.S. district court has halted an operation that allegedly preyed on financially vulnerable homeowners, convincing them to pay $1,995 or more by ho...
FTC Places Conditions on CoStar’s $860 Million Acquisition of LoopNet
WASHINGTON, D.C. - April 26, 2012 - (RealEstateRama) -- The Federal Trade Commission will require CoStar Group, the largest provider of commercial real estate information services in the United States, to sell LoopNet's ownership interest in Xceligent,...
FTC Action Leads to Court Order Banning Final “U.S. Homeowners Relief” Defendants from Debt...
WASHINGTON, D.C. - April 6, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a federal court has imposed a court order with a $3.89 million judgment against defendant Samuel Paul Bain and three of his companies for their role ...
FTC Legal Action Halts Alleged Mortgage Relief Scammers Who Lured Homeowners with Bogus Claims
WASHINGTON, D.C. - March 22, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a U.S. district court has halted an operation that took in more than $1 million by allegedly selling homeowners bogus mortgage relief and foreclosur...
FTC Action Leads to Ban on Alleged Mortgage Relief Scammers Who Harmed Thousands of...
WASHINGTON, D.C. - February 14, 2012 - (RealEstateRama) -- At the request of the Federal Trade Commission, a U.S. district court put the mortgage relief business permanently off limits to marketers who allegedly charged thousands of consumers up to $2,...
FTC Extends Deadline for Comments in Two Proceedings: Regulatory Review of Textile Labeling Rules...
WASHINGTON, D.C. - December 29, 2011 - (RealEstateRama) -- In response to requests from stakeholders, the Federal Trade Commission has extended the deadlines for the public to submit comments in two different proceedings. The deadline to submit comment...
FTC Settlement Requires “U.S. Homeowners Relief” Defendants to Pay Millions, Bans Them from Debt...
WASHINGTON, D.C. - December 15, 2011 - (RealEstateRama) -- Six defendants have agreed to settle Federal Trade Commission charges that they participated in a fraudulent mortgage modification and foreclosure relief scheme. The settlement orders require ...
FTC Seeks Public Comment on Energy Labels for Home Heating and Cooling Equipment
WASHINGTON, D.C. - November 18, 2011 - (RealEstateRama) -- The Federal Trade Commission is seeking public comment on new energy labeling requirements for residential furnaces, central air conditioners, and heat pumps, to help consumers and businesses i...
Last Remaining Defendants in “Hope Now” Scheme Settle FTC Charges; Order Puts Them Out...
WASHINGTON, D.C. - November 16, 2011 - (RealEstateRama) -- The Federal Trade Commission has obtained a settlement against the remaining defendants in an allegedly fraudulent mortgage modification scheme that will permanently ban them from the mortgage ...
At FTC’s Request, Court Shuts Down Deceptive Mortgage and Debt Relief Operation
WASHINGTON, D.C. - October 4, 2011 - (RealEstateRama) -- At the Federal Trade Commission’s request, a U.S. district court has shut down two related operations as a result of settlements with defendants who allegedly failed to provide promised debt re...
FTC Asks Court To Halt Defendant from Impersonating Federal Agencies While Steering Consumers to...
WASHINGTON, D.C. - September 22, 2011 - (RealEstateRama) -- The Federal Trade Commission has filed a complaint in U.S. District Court to halt the misleading claims of a defendant who allegedly deceived consumers by using multiple websites to impersonate federal consumer assistance agencies or pretend to be affiliated with them. Through the websites, the defendant solicited indebted consumers and referred them to companies selling mortgage, tax, and debt relief services with promises that their debts would be substantially reduced or eliminated, according to the FTC complaint.
FTC Adds Defendant in Deceptive Mortgage Loan Modification Case
WASHINGTON, D.C. - September 2, 2011 - (RealEstateRama) -- The FTC has amended its complaint against U.S. Mortgage Funding, Inc. by adding as a defendant Louis Gendason. The amended complaint also asks the court to issue a preliminary injunction against Gendason that will reduce the chance of consumer injury and preserve the possibility of consumer redress while the defendants await trial.
FTC Seeks Public Comment on Dow Chemical’s Application to Sell Its Torrance, California, Acrylic...
WASHINGTON, D.C. - September 2, 2011 - (RealEstateRama) -- The Federal Trade Commission is seeking public comment on The Dow Chemical Company’s application for FTC approval to sell to Hager Pacific Acquisitions, LLC, real estate and other property in Torrance, California, which is related to a latex polymers business that Dow previously divested to Arkema Inc. Hager Pacific Acquisitions, LLC is a subsidiary of Hager Pacific Properties.
Marketers Falsely Claimed to Be Affiliated with Federal Assistance Programs, Agency Alleges; Operators in...
WASHINGTON, D.C. - August 25, 2011 - (RealEstateRama) -- The Federal Trade Commission put an end to three schemes that claimed they would help consumers with their mortgage and debt problems, as part of settlements with defendants who allegedly claimed a bogus affiliation with government assistance programs.
FTC Testifies on Consumer Protection and the Rent-to-Own Industry
WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- The Federal Trade Commission testified today on consumer protection issues relating to the rent-to-own industry. The testimony described the agency’s role in enforcing laws relating to financial issues, provided background on the rent-to-own industry, and described key findings of a 2000 report published by the FTC’s Bureau of Economics on the rent-to-own industry.
FTC Returns Nearly $108 Million to 450,000 Homeowners Overcharged by Countrywide for Loan Servicing...
WASHINGTON, D.C. - July 20, 2011 - (RealEstateRama) -- 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 over allegations that the company collected excessive fees from borrowers who were struggling to keep their homes.
