The state has closed the loan modification businesses of two Southern California men for allegedly lying to consumers about being supervised by attorneys, according to a report in The Orange County Register. The two operated firms under the trade names Guardian Credit Services, Green Credit Solutions, Green Credit Services, Erickson Law Group, Green Credit Law and PacWest Funding. The state bar, which acted with the Orange County Superior Court in the case, has worked with other state and local officials to crack down on companies promising homeowner aid but not delivering it, the newspaper said. The bar alleges Curtis Melone of Huntington Beach and Christopher Fox of Redondo Beach promised to help homeowners facing foreclosure keep their homes but did nothing. An attorney for the men was not immediately available for comment.
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The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors
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The litigants, with some of the industry's deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.
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Mordor Intelligence expects the manufactured homes market size to expand from $28.5 billion in 2025 to $30.5 billion this year, its latest report found.
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Fannie Mae and Freddie Mac's support for the market lessened the impact, as could bank capital reform, and the company's normalized results outperformed.
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Even as they continue to press for additional changes, banks get some wins from the revised Basel capital framework and a ballpark estimate of their capital outlook for the next few years.
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More than three-quarters of brokers are using popular AI platforms, but application of lender-specific software lags considerably, according to AD Mortgage.
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