Subprime Loan Victims to Receive Additional Redress
Nearly 20,000 borrowers will receive a second compensation
check this week from a redress fund that resulted from the FTC’s settlement with home mortgage
lender First Alliance Mortgage Company and its chief executive officer. First Alliance borrowers, who
obtained home mortgage loans through the company, previously received compensation for the loan
origination fees the company deceptively charged them in a round of checks mailed out in December
2002.
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