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FOR IMMEDIATE RELEASE
June 23, 2010
Indiana residents alerted to avoid loan broker services offered by Home Ownership Possibilities for Everyone, LLC and SEEED Consortium, LLC
Indiana Secretary of State Todd Rokita announced today that Home Ownership Possibilities for Everyone, LLC and SEEED Consortium, LLC have been ordered to cease-and-desist from brokering loans in Indiana without a license in violation of the Indiana Loan Broker Act. SEEED Consortium, LLC was further ordered to cease-and-desist from collecting fees that are not bona fide third party fees.
According to a complaint filed by Indiana Securities Division attorneys, both companies portrayed themselves as loan brokers and attempted to procure residential mortgage loans from a third party on behalf of at least one individual in Indiana although neither was licensed. Indiana Securities Commissioner Chris Naylor entered a cease-and-desist order against both companies on June 18, 2010.
“It is critical for us to alert Hoosiers of these unlawful business practices and inform our residents that these companies are not licensed to offer loan broker services for residential real estate transactions in Indiana,” said Secretary Rokita. “These two companies have never obtained a loan broker license in Indiana so consumers should avoid them.”
The last known business address for Home Ownership Possibilities for Everyone, LLC is an address in Louisville, Ky. The last known business address for SEEED Consortium, LLC is an address in Las Vegas, Nev. Both are known to have also operated in Kentucky and could have been offering services in multiple states.
The Securities Division will seek a civil penalty of up to $10,000 per violation. If the companies fail to address the complaint, they may be permanently barred from the loan broker industry and ordered to pay civil penalties along with restitution.
For more information on how to avoid becoming a victim of investment fraud, visit http://www.indianainvestmentwatch.com/.
Media Contact: Jim Gavin 317.233.8655 or firstname.lastname@example.org