State fines mortgage broker

MaineToday:

A licensed mortgage loan broker has entered into a Superior Court Consent Decree that resolves the state’s Unfair Trade Practice Act Complaint.

The State charged that Maine Mortgage Group helped falsify a homeowner’s mortgage application in order to persuade the lender that the homeowner was a good loan risk.

The state’s complaint alleged that Maine Mortgage Group made a $7,000 short-term loan to the homeowner in order to make the homeowner’s assets appear larger than they actually were.

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