As we’ve mentioned in the past, it’s illegal for a company to misrepresent itself as an agent of the government, if it isn’t in fact affiliated with the government. But that doesn’t stop some companies from using these false affiliations to lure in customers. Such was the case for a California-based mortgage relief company recently taken down by federal regulators.
federal housing administration
U.S. Sues Wells Fargo, Accuses It Of Being A Loan Factory Pumping Out Deficient Mortgages
By 10.10.12
United States prosecutors leveled charges against Wells Fargo yesterday, claiming the bank lied about the quality of mortgages it was working with under a federal housing program. Prosecutors say Wells Fargo defrauded the government for more than a decade, issued mortgages willy nilly and then lied about their condition to the Federal Housing Administration. [More]
