Friday, December 12, 2008

Utah AG Raids Foreclosure Rescue Operator's Office, Home; Investigators Mum About What They're Looking For

In Midvale, Utah, KUTV Channel 2 reports:
  • Investigators from the Utah attorney General's Office spent over nine hours searching inside the offices of Utah Financial in Midvale. What they were searching for, they would not say. The officers also searched a nearby building which houses Legends Title. The investigators removed several boxes of what appeared to be documents from both buildings.

  • Utah Financial is reportedly owned by Brendan Cassity of Murray. The same state investigators spent about 2 hours searching his house Wednesday morning. They took bags of evidence from the home too.

***

  • Customers and employees of Utah Financial were shocked to find the building closed by investigators. Customer Raul Leon said he was there to make a payment. Leon said that the company advertises heavily to Latinos, promising to help them avoid foreclosure.

  • Leon says Utah Financial gave him a loan to help him keep his house. He showed documents and said he signed a Quit Claim Deed, then a lease agreement. He says he rents the house back from Utah Financial and they make the mortgage payments for him.

For the story, see Utah Mortgage Business Temporarily Shut Down By State Investigators.

For story update, see Utah Attorney General's press release: Midvale Mortgage Company Owners Charged With Fraud.