Mortgage Co. can’t dodge CFPB’s misleading loan applications

By Charlie Innis (April 1, 2022, 7:40 p.m. EDT) — A now-shuttered mortgage company is facing the bulk of Consumer Financial Protection Bureau allegations that it misled customers and authorized employees not licensed to take out mortgages, according to an order filed Thursday in Connecticut federal court.

U.S. District Judge Robert N. Chatigny rejected 1st Alliance Lending LLC’s offer to dismiss CFPB allegations that the company violated the Truth in Lending Act and misled potential borrowers about their eligibility for refinancing.

The co-owners of the East Hartford, Connecticut-based company – John Christopher DiIorio, Kevin Robert St. Lawrence and Socrates Aramburu – are also accused of allegedly committing unfair acts or…

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