Tag: Real Estate and Mortgages

The Federal Trade Commission is sending more than $222,000 in refunds to consumers harmed by a deceptive mortgage relief operation known as Lanier Law. The scheme collected thousands of dollars in upfront fees from homeowners by promising to lower their monthly payments but then failed to deliver.

The U.S. District Court for the District of Nevada has ruled in favor of the Federal Trade Commission in a case against the operators of a scheme that deceived financially distressed homeowners by falsely promising to make their mortgages more affordable.  The defendants also charged consumers illegal advance fees and unlawfully told consumers not to pay their mortgages to or communicate with their lenders.

In January 2024, The FTC sent more than $1.2 million in refunds to consumers who lost money to Consumer Defense.

In January 2023, the FTC issued an order requiring Denver-based HomeAdvisor, Inc. – a company affiliated with Angi, formerly known as “Angie’s List” – to pay up to $7.2 million for using a wide range of deceptive and misleading tactics in selling home improvement project leads to service providers, including small businesses operating in the “gig” economy. The Commission announced approval of the final consent order in April 2023.

In August 2023, the FTC approved a proposed consent order to resolve antitrust concerns surrounding Intercontinental Exchange, Inc.’s (ICE) proposed $13.1 billion acquisition of Black Knight, Inc. The proposed settlement ensures Black Knight’s divestiture of Empower and Optimal Blue, two businesses that provide critical services in the mortgage origination process. The FTC also secured other concessions to promote the success of the divested businesses. On November 3, 2023, the FTC approved the final consent order.