Monday, April 21, 2003

Utah Mortgage Company facing Federal / State Investigation Fairbanks Capital Corp. is being investigated by Federal agencies Housing & Urban Development and the Federal Trade Commission, as well as the states of Maryland and Utah. The mortgage company, based in Salt Lake City, is the subject of 12 consumer complaints. Maryland Sen. Barbara Mikulski asked HUD to get involved after a series of high-profile homeowners' complaints in that state which became the focus of a series of television news stories. The company denies any criminal wrongdoing. [National Mortgage News] [WBAL-TV] [Fairbanks Capital Corporation] 9:41:59 AM