Calif. Law Firm Targeted In CFPB's 1st Loan Modification Suit

Law360, New York (July 30, 2012, 9:17 PM EDT) -- The Consumer Financial Protection Bureau scored an asset freeze and temporary restraining order against a California law firm and related entities in its first action against a mortgage loan modification scam, according to documents unsealed last week.

The lawsuit was launched against Chance E. Gordon, his law firm, and Division One Investment & Loan Inc., which also does business under other names, among others. They are accused of offering loan modification services for an advance fee between $2,500 and $4,500 that actually do nothing for homeowners...
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