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Three banned from loan mod business in Idaho

Aug 20, 2010

The owners of a North Idaho mortgage modification company have been prohibited from engaging in loan modification activities with Idaho consumers, as announced by Idaho Attorney General Lawrence Wasden. Randy Allen, Clint Paulsen and Travis Smith, who operated HomeModifier in Post Falls, Idaho signed a consent judgment that prevents them from opening a new mortgage modification business in Idaho. HomeModifer and its owners also agreed to pay $7,000 in restitution to reimburse the six consumers who complained to Wasden’s office. The owners also paid $1,000 of the state’s attorney fees and costs. A civil penalty of $30,000 is held in abeyance pending each of the owner’s compliance with the settlement agreement. “While this settlement benefits the consumers who filed complaints about HomeModifier, it also protects all of Idaho’s consumers,” said Attorney General Wasden. “Preventing the continuance and proliferation of alleged mortgage modification scams in Idaho remains a high priority in these difficult financial times.” The three individuals who operated HomeModifer owned APS Northwest Idaho LLC. The Attorney General’s Office received complaints from six consumers, including four Idahoans, who paid HomeModifier for modification assistance that they allegedly never received. Although HomeModifier negotiated a few modifications for its clients, it did so without proper licensing through the Idaho Department of Finance. And, like many modification operations, it soon found itself in financial distress. “While I understand that these three men never meant to injure consumers, this case serves as a warning to all modification companies,” Wasden said. Under the terms of the settlement, none of the parties admitted any liability or wrongdoing. For more information, visit http://www2.state.id.us/ag/.
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Aug 20, 2010
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