Nevada AG reaches settlement with loan modification company

Chris Rizo Feb. 5, 2010, 10:35am

Catherine Cortez Masto (D)

CARSON CITY, Nev. (Legal Newsline) - Nevada Attorney General Catherine Cortez Masto said Friday that her office has reached a settlement with an unlicensed in-state loan modification company.

Focus 2000 Financial Corp. has agreed to pay a $5,000 fine and refund fees to homeowners whose loans were not completed.

The Pahrump, Nev.-based company also agreed to provide documentation showing refunds were paid as promised and to refrain from loan modification or credit repair activities in Nevada without proper licenses.

Masto said Focus 2000 lacked the proper licensing by the Nevada Mortgage Lending Division to do business in the Silver State.

"All loan modification services must be licensed and operate within the regulations established during the last Legislative Session," Masto said in a statement. "Any violators of this law will face consequences."

From Legal Newsline: Reach staff reporter Chris Rizo at

More News