The former vice president of sales for Apply 2 Save, a mortgage modification company based in Coeur d'Alene, paid the State of Idaho $50,000 as part of a settlement agreement, Attorney General Lawrence Wasden announced today. Steven Curtis Lux, whose emloyment with Apply 2 Save was publicized in business journals last year, was suspected of engaging in unlawful and unlicensed mortgage modification activities under the Idaho Consumer Protection Act.
"This co-operative enforcement operation has helped eliminate many predators from the mortage marketplace," Wasden said. Foreclosure rescue operators not only take money from desperate homeowners, they also take homeowners' faith in humanity, their trust in government-sponsored counselors, and most unfortunately, the roofs over homeowner's heads."
The settlement agreement with Lux prohibits him from engaging in mortgage modification and loan broker activities in the State of Idaho. He paid $45,000 in restitution and $5,000 to reimburse the Attorney General for his fees and costs. The office expects to distribute restitution to eligible consumers later this .
In less than ten months, the Attorney General's Consumer Protection Division received approximately 400 complaints against Apply 2 Save. The complaints represent homeowners from all but three states. Wasden suspects thousands of victims remain unaware that Apply 2 Save closed or simply decided not to file a complaint.
For more information recovery funds, call the BBB at 208-523-9754.