Thursday, April 4, 2013

Hawaii Regulator Clips Loan Modification Outfit For $10K In Civil Penalties, Orders Full Refunds To Homeowners For Collecting Upfront Fees, Failing To Deliver Promised Services

From the State of Hawaii Department of Commerce and Consumer Affairs:

  • The State Department of Commerce and Consumer Affair's ("DCCA") Office of Consumer Protection ("OCP") [...] obtained a judgment against Sean Keala Remos ("Remos") and Loan Network Honolulu LLC fka LoanNetwork Honolulu LLC ("Loan Network").

    The judgment prohibits Remos and Loan Network from violating Hawaii’s consumer protection laws, requires them to pay back consumers and imposes civil penalties of $10,000.

    OCP's lawsuit alleged that Remos acted as distressed property consultant and promised to help distressed homeowners obtain loan modifications. He collected up-front fees from the homeowners and failed to get loan modifications or provide refunds.

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