The Maryland Attorney General announced Monday it had reached a settlement with two mortgage loan procurement and credit consulting providers after allegations of misrepresentation and illegal activity.
Baltimore Home Ownership Program LLC, NowICanBuy LLC and their owner, Dwight Williams, will have to pay $45,000 in restitution to consumers who paid for credit improvement or mortgage loan assistance services before May 5, 2014, and $5,000 in costs to the Consumer Protection Division of the Attorney General's office. An additional penalty of $230,000 will be waived if the defendants comply with the settlement, the AG's office said.
Williams did not immediately return a call seeking comment Monday afternoon.
The Attorney General's office alleged the companies offered mortgage and credit repair consulting services without a required license, collected illegal advance fees and made false representations about the nature of their services and their success.
The companies and the owner are also barred from offering similar services for at least two years.