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AG Horne Files Complaint in Pima County Alleging Consumer Fraud Violations Against Mortgage Capital USA, Inc.

TUCSON (Wednesday, November 9, 2011) -- Attorney General Tom Horne has filed a court action in Pima County Superior Court alleging that Mortgage Capital USA, Inc. and its Chief Executive Officer, Gustavo R. Anaya, have engaged in a loan modification scam primarily targeting Spanish-speaking residents. The complaint alleges Defendants use deceptive means to lure distressed homeowners who hope to fend off foreclosure and then Defendants take their money without providing the services for which the consumer contracted. 

Horne stated, “This company charges up-front fees for their services in violation of Arizona’s consumer protection laws, and my office will always vigorously prosecute cases such as this.” Horne added, “These fees are illegal because quite often the consumer never gets the services or goods they paid for.”

The court action details four principle allegations:

  1. Defendants charge up-front fees in violation of state and federal law then keep the money regardless of the amount of work completed or the outcome of the loan modification application.
  2. Defendants hold themselves out as legitimate loan modification companies but they are not licensed to conduct loan modification services in Arizona.
  3. Defendants exploit the Spanish-English language barrier of consumers by verbally affirming one set of terms in the agreement in Spanish when the written contract, offered only in English, often states that the consumer agrees to opposite terms.
  4. To add the appearance of legitimacy to their operation, Defendants often represent themselves as being a law firm or that they employ attorneys to work on loan modifications for consumers when neither assertion is true.
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