Cuomo Probe Into Loan Modification Industry Deepens

Law360, New York (June 9, 2009, 12:00 AM EDT) -- New York Attorney General Andrew Cuomo has subpoenaed 14 loan modification companies and said he will sue Long Island, N.Y.-based American Modification Agency Inc. as part of an ongoing investigation of “foreclosure rescue” companies.

Cuomo sent an intent-to-sue letter to Amerimod on Tuesday, warning the loan modification company that it will face litigation if it cannot provide evidence that it hasn’t broken New York statutes related to business and executive conduct within five days.

The attorney general says the probe into Amerimod was part of a...
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