Mortgage Industry May Owe Homeowners Billions For Overcharges. - 2005-04-04
For those waiting for the shoe to drop in relation to the real estate housing/refinance boom/bubble, it may have just materialized. According to the Justice & Integrity Project in its newest home lending survey, overcharging the homeowner and or out right fraud have reached epic proportions in the U.S. mortgage markets. The net result is that mortgage lenders and or those who purchase mortgage portfolio's may be at risk for tens of billions of dollars in liability for fraud or for the intentional overcharging of tens of millions of U.S. homeowners.
Read the full story at Emediawire (press release)

Colorado Mortgage Broker Barred from Making Deceptive Claims On Mortgage Refinancings - 2005-04-04
A Federal district court has barred a Colorado-based mortgage broker from initiating false claims about home mortgage financing services and ordered him to pay consumer redress following Federal Trade Commission charges that he violated federal laws. According to the FTC, the defendant and his company deceptively claimed they could refinance consumers’ mortgages at the lowest available rates at no cost to consumers.
Read the full story at Community Dispatch (press release)