The Federal Trade Commission (FTC) on Wednesday announced that it secured a court order to shut down an alleged mortgage relief scheme. The regulator says the scheme referenced federal homeowner assistance programs to collect upfront fees from financially distressed borrowers while failing to deliver promised loan modifications.

A judge for the U.S. District Court for the Central District of California granted the FTC’s request for a temporary restraining order against National Amendment Assistance (NAA) and a network of affiliated companies and executives.

The order freezes the defendants’ assets, places the businesses into receivership and gives federal authorities immediate access to details ⇒

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