SALEM, Ore. (Legal Newsline) - Oregon Attorney General John Kroger announced on Thursday that a California-based company has agreed to halt loan modification work in Oregon over the alleged charging of illegal fees.
Premier Legal Advocates allegedly charged advance fees for loan modification services that it never performed. According to the settlement, the company will pay $4,000 to the Oregon Department of Justice, refund a consumer $2,400 and prepare to pay any other Oregon consumer who paid advance fees.
Premier admitted no wrongdoing but agreed to stop any foreclosure consulting or loan modification work in the state.
"This office will not tolerate companies that attempt to exploit Oregon homeowners who are facing foreclosure," Deputy Attorney General Mary Williams said.
This is the latest deal as part of an effort by the Oregon Department of Justice and the Oregon Department of Consumer and Business Services to protect Oregonians from widespread mortgage rescue fraud and abuses.
Two other California loan modification companies - Noah Savings Mortgage Inc., and Liberty Law Firm Inc. - were recently banned from doing business in Oregon under similar settlements.