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Multi-Million Dollar Mortgage Assistance Scam in Los Angeles

On Feb. 13, the California Department of Financial Protection and Innovation (DFPI) announced that the U.S. District Court for the Central District of California found defendants Michael Nabati, Armando Solis Barron, Dominic Ahiga (a/k/a Michael Grinnell), and Roger S. Dyer doing business through Los Angeles-based Home Matters USA and related firms, liable for approximately $19 million in combined penalties and victim restitution.

The ruling resolves a joint civil action filed in September 2022 by the DFPI and the Federal Trade Commission (FTC). The court found that the defendants falsely promised to reduce homeowners’ mortgage payments and prevent foreclosures, defrauding distressed homeowners out of millions of dollars.

The scheme harmed more than 3,000 people nationwide, particularly elders and veterans. The defendants violated multiple federal and state laws, including the California Consumer Financial Protection Law (CCFPL).

The ruling represents DFPI’s first civil enforcement action filed jointly with the FTC. It also produced the highest penalties to date through the DFPI’s expanded authority under the CCFPL.

Access the ‘Compliance Hotline’
Your League-member benefits include the Compliance Hotline — providing exclusive access to dedicated compliance experts:

Using the above phone number and email address, you can gain access to a knowledgeable team that’s ready to address all your credit union’s compliance inquiries — promptly and efficiently. With the Compliance Hotline, you can proactively respond to impromptu questions and issues by getting clarity and insight on technical topics that normally slow you down. We want to help you unlock the full potential of your League membership by leveraging the resources and support you need to navigate the complex world of compliance effortlessly. We’re ALWAYS just a phone call or email away!

Additionally, other League-member compliance resources include:

  • ViClarity
  • CU PolicyPro
  • ComplySight
  • InfoSight
  • CU Store
  • Record Retention Guide
  • GRC Technology Solutions

For more information, email Lisa Quaranta.

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