More Arizona mortgage fraud allegations

Regulators are going after another Valley mortgage firm for suspected illegal lending practices.

The Arizona Department of Financial Institutions has filed a complaint against Home One Mortgage Services, or SJJ Corp.

Allegations include failing to disclose or calculate the right interest rates and fees on more than 100 loans; letting Residential Asset Management, among other groups, use its license to process mortgages; and making false promises or concealing important facts on more than 200 loans.

May 20, 2007 by Realtor John Wake

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John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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