Daily News and Information for the Mortgage Loan Originator
Broker To Pay $15,000 For Do Not Call Violation
Monday, March 06, 2006
-
ST. LOUIS, MO. — TE Mortgage Corp. will pay a civil penalty of $15,000 for telemarketing calls made to Missourians on the state’s No Call list in an agreement reached with Attorney General Jay Nixon. TE Mortgage Corp. is a mortgage sales and service business based in Springfield.
The consent judgment, filed in the Circuit Court of the city of St.Louis, alleges that TE Mortgage placed telemarketing calls and engaged in telephone solicitation since July 2001 to consumers on Missouri’s No Call list. As part of the agreement approved Tuesday by Circuit Court Judge David Dowd, TE Mortgage will cease calling Missourians on the list, and will provide Nixon’s office with a report of measures the company has taken to assure further compliance with state law.
"Missouri’s No Call law was implemented to assure Missouri citizens that they could sit down to the dinner table without constant, uninvited interruptions by annoying calls from telemarketers," Nixon said. "Through our aggressive enforcement efforts, Missourians can be assured that we will continue to take whatever steps are necessary to protect their rights and privacy."
TE Mortgage will pay a civil penalty of $15,000 to the Missouri Merchandising Practices Revolving Fund.
Related
Articles :
If Your Company Doesn’t Have a Do Not Call Policy, is it Time to Quit? Before you pick up the phone to call a realtor referral or past client referral, understand this - it may personally cost you $11,000. Readers who responded to the June 1 article What you don’t know Can Bankrupt your Company overwhelming asked the same questions, “Can I be personally fined?” and “What should I do if my company doesn’t take the DNC laws seriously?”
8 Alleged DNC Violations May Cost Originator $80K A lawsuit filed in Palm Beach County Circuit Court alleges that Majestic Mortgage LLC made at least eight telephone calls to Florida residents on the state’s “Do Not Call” list during the past four months.
10 Calls May Cost Broker $100,000 in Fines For allegedly placing only 10 calls to consumers on the Do Not Call list may cost a mortgage broker $100,000 in fines. Additionally, the same broker is also being sued for using pre-recorded messages, which is a separate violation and subject to additional fines.
FTC Moves to Stop Mortgage Marketer From Using Phony Caller ID A nationwide marketer of mortgage loans has been calling people whose numbers are listed on the National Do Not Call Registry, and doing so without identifying itself, according to the Federal Trade Commission, which is seeking civil penalties and an injunction against the company for violations of the FTC’s Telemarketing Sales Rule.
What You Don’t Know Can Bankrupt Your Company If you’re one of those mortgage originators who thinks the Do Not Call (DNC) laws don’t apply to you because you’re not making cold calls or you’re only buying “scrubbed” leads, the FCC says you’d better listen up. Yes, the laws were originally enacted to curb those annoying dinnertime calls from your typical telemarketer; but the reality is these laws apply to all U.S. companies that make sales transactions over the telephone – including mortgage companies.
