Mortgage fraud investigation continues
Published: Monday, October 21, 2013 at 4:22 p.m.
Last Modified: Monday, October 21, 2013 at 4:22 p.m.
The State Department of Justice said this week that it is still working on a case against Petaluma mortgage assistance company Mortgage Modifiers, Inc. and its owner Miguel Lopez-Soleta.
Department of Justice Spokesperson Michelle Gregory said that several investigators and attorneys on the case are still compiling evidence.
The California Department of Justice estimates that more than 50 people throughout the Bay Area have been defrauded by 41-year-old Lopez-Soleta through his company, which allegedly made promises to negotiate directly with banks on customers' behalf but failed to do so.
Nine lawsuits have been filed in small claims court against Mortgage Modifiers.
Lopez-Soleta's real estate license has also been revoked.
Gregory said that the department believed Lopez-Soleta was illegally charging people up front for mortgage adjustments.
Agents raided Lopez-Soleta's home and offices in April, taking files and computer hard drives. But Lopez-Soleta has never been charged or arrested.
Gregory said she cannot predict when charges against Lopez-Soleta will be filed or an arrest will be made in the case, but said that the investigation is moving forward.
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