July 22, 2022

Vanderpoel family members Neal J. II, Eileen, Ryan, and Neal J. IV will pay $1.88 million in penalties, disgorge their ill-gotten gains, and are barred from performing any loan modification, debt adjustment, or mortgage compliance in New Jersey because of their predatory mortgage adjustment services targeting distressed homeowners. The family violated New Jersey’s Consumer Fraud Act and the Debt Adjustment Act, selling worthless loan modification and other adjustment services to borrowers, and charged excessive upfront fees. The entities used in furtherance of the fraud—Financial Services of America, Financial Processing Services, LLC, Tri-State Financial Relief, LLC, and Mortgage Help and Loan Audits of America, LLC—were also shut down. NJ OAG

Tagged in: Financial and Investment Fraud, Financial Institution Fraud, Housing and Mortgage Fraud, Misrepresentations,