A while back we said lawsuits would soon begin. At the time we referred to bonds and CDO’s, but state Attorney’s General are starting to revisit predatory lending. The state of Nebraska has sued Advantage Mortgage Service, intending to revoke its license for what the state says were predatory lending practices.
A news release from the state Attorney General’s Office and Department of Banking and Finance said the actions were being taken against Advantage Mortgage Service and its owners. State investigators say Advantage Mortgage falsified closing documents, forged borrowers’ signatures and charged borrowers hidden and excessive fees.