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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