Orlando Loan Modification Company & its Principal Served with Order to Cease and Desist
TALLAHASSEE, Fla (March 25, 2010) – The Florida Office of Financial Regulation (OFR) issued and served an Order to Cease and Desist all loan modification services to The Loan Critics, LLC at 1737 Sunset View Circle, Apopka, Florida 32703, and James Palmer. The orders charged that the company is acting in violation of Florida laws (F.S. Chapter 494,) prohibiting unlicensed businesses or individuals from providing loan modification services.
“We have a lot of people out of work and struggling to keep their homes that are looking for help. Some are paying for services they never get,” said OFR Commissioner Tom Cardwell. “It is important that our residents know their rights and the laws that help protect them from being victimized in their time of need.”
The new law, effective as of January 1, 2010, requires companies and all individuals in the companies that are conducting loan modification services to now be properly licensed. In addition, the law requires promised services and expected outcomes be provided in writing and no upfront fees be charged in advance of the client benefiting from the loan modification services.
By Florida law, any person or company providing loan-modification services must have an active license from the Florida Office of Financial Regulation.
Soreide Law Group will represent you in front of the Florida Office of Financial Regulation regarding loan modification licensing issues. To speak to an attorney, please call: (888)760-6552 or visit our website at: www.floridaprofessionallicense.com.
Tags: administrative complaint, Department of Business and Professional Regulation, DPBR, Florida license lawyer, Florida Office of Financial Regulation, licensed mortgage brokers, loan modification, loan modification services, OFR, professional regulatlion, The Loan Critics, unlicensed business, unlicensed mortgage brokers