Purchasing a new home is an exciting time, full of complicated decisions and documents. During this time, you generally have to place a great amount of trust in mortgage brokers and other financial professionals to help navigate the barrage of mortgage documents and guide you to the outcome that fits best.

Mortgage companies are supposed to work on your behalf – and most of them do. Unfortunately, some prefer to put their own interests, to pad their bottom line ahead of your interest and at your expense. Often disguised as a beneficial arrangement (no money down financing!) followed by deceiving documentation, these dirty deals take advantage of borrowers, leaving lasting consequences. Unscrupulous mortgage lenders, banks, and other settlement providers have placed heavy burdens on thousands of unknowing homeowners – perhaps even you.

What are the deceptive practices at issue?

As laid out in the 2010 Dodd-Frank Consumer Protection Act, these deceptive practices have been made illegal and requirements for mandatory disclosures were established. Due to the inherent complexity of mortgage documents and laws, most people may not recognize if they have been taken advantage of or been the target of unlawful deceptive business practices. Those businesses employ industry jargon, high pressure tactics, and other misrepresentative strategies to mislead its victims. If you suspect that you may have been subjected to these deceptive practices, one simple place to look is the HUD-1 or “Settlement Statement” form that was provided to you by the escrow company.

How can I tell if I’ve been subjected to deceptive practices?

Do any of these phrases appear on your HUD-1 or “Settlement Statement”?

  • Yield Spread Premiums
  • Service Release Premiums
  • Yield Differentials
  • Rate Participation Fees
  • Service Release Fees
  • Par-Plus Pricing

What do I do?

If you see any of these phrases, you may have been a victim and that’s where we can help. It takes an experienced attorney well-versed in mortgage and real estate law to decipher the legitimate from the illegal. Simply let us review your mortgage documents, in particular the HUD-1 Statement, and we’ll handle the rest – while keeping your personal data secure and confidential. Our mortgage attorneys will pour over the paperwork line by line, cross checking every fee to make sure everything was on the up and up. If it’s not, we’ll assist you in pursuing damages for a recovery.

Who we are

Zimmerman Reed has a long track record of helping return hundreds of millions of dollars to homeowners. We are ready to challenge unscrupulous mortgage companies from taking away homeowner’s hard-earned dollars. Fill out our free case review form or call us toll-free at 1.800.887.8029. Zimmerman Reed is experienced in fighting on behalf of consumers and we are here to listen to your story, answer your questions, and help you navigate next steps.