After an investigation found that a series of law firms and the individuals who did business on their behalf falsely promised to help save the homes of financially distressed homeowners, the Federal Trade Commission announced another banishment from the mortgage modification business for one of the subjects of “Operation Mis-Modification,” reports HousingWire staffer Ben Lane.

It was the second time this month the FTC made a banishment stemming from a 2014 enforcement action cited above,”which identified a number of alleged mortgage modification scammers.

In the most recent case case, the FTC said that Tuan Dinh Duong and Christian Quezada operated CD Capital Investments, CD Capital, and GDS Information Services, which did business under the fictitious names of “2Apply” and “UW Solutions.”

According to the FTC, the companies falsely claimed they could lower home owners’ mortgage payments and interest rates or prevent foreclosure, pretended that they were affiliated with a government agency or consumers’ lenders or servicers, and illegally charged advance fees – initially $495, plus monthly fees that averaged about $399.

Read more >