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Department of Commerce Cease and Desist Order to Save My Home USA

Department of Commerce Cease and Desist Order to Save My Home USA

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Published by Sally Jo Sorensen
Minnesota's Department of Commerce orders Save My Home USA to cease and desist operations in Minnesota.
Minnesota's Department of Commerce orders Save My Home USA to cease and desist operations in Minnesota.

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Published by: Sally Jo Sorensen on Jul 15, 2014
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09/10/2014

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MO14643/MPB
STATE OF MINNESOTA
OFFICE OF
 ADMINISTRATIVE HEARINGSFOR THE DEPARTMENT OF COMMERCE
In
 the Matter of Jason McCallum; Justin CEASE AND
 DESIST
 ORDER AND
McCallum;
 Chad Buchanan;
 and
 Save
 My
 NOTICE
 OF
 RIGHT
 TO
 HEARING
Home USA
 Co., Inc.
TO: Mr.
 Jason McCallum
 and Mr.
 Chad Buchanan, Co-Owner
Mr.
 Justin McCallum, Co-Owners Save
 My
 Home
 USA
 Co., Inc.
Save My
 Home
 USA
 Co., Inc. 1401 West Girard Avenue
1401
 West
 Girard
 Avenue Madison Heights,
 MI
 48071
Madison
 Heights, MI 48071
Save
 My Home USA Co., Inc. Save My Home USA Co., Inc.37040
 Garfield
 1441 East Maple Road, Suite 100
Clinton
 Township, MI 48036 Warren, MI 48083Save My Home USA Co., Inc. Save My Home USA Co., Inc.
30800 Van
 Dyke Avenue,
 Suite
 102
 2663
 Athena Drive
Warren,
 MI
 48093
 Troy,
 MI
 48083
Mr.
 Andrew Capelli, Registered Agent
Save
 My
 Home
 USA
 Co., Inc.
1401
 West Girard Avenue
Madison
 Heights,
 MI
 48071INTRODUCTIONNo person may act or hold themselves out as a residential mortgage originator or
residential
 mortgage servicer in the State of Minnesota without a valid license issued by the
Minnesota
 Department of Commerce unless such person is exempt from said licensing
requirements.
 Minn. Stat. §§ 58.02, subds. 18-23, and 58.04 (2010).
Pursuant
 to the
 above-referenced statutes, Commissioner Mike Rothman
 of theMinnesota
 Department
 of
 Commerce
 has
 determined
 as
 follows:
 
ALLEGATIONS
1.
 Respondents
 are not
 licensed
 by the
 Department
 in any
 capacity. RespondentsJason McCallum, Justin McCallum
 and
 Chad Buchanan
 are all
 owners
 and
 officers
 ofRespondent
 Save
 My
 Home
 USA
 Co., Inc. Respondents have been known
 to
 operate under
 the
following:
 Save
 My
 Home USA; Savemyhomeusa;
 and
 2MM, LLC.
2.
 The
 Department conducted
 an
 investigation
 of
 Respondents
 and
 learned that
Respondents
 contacted approximately
 118
 Minnesota residents
 who
 paid advanced
 fees
 totaling5289,020
 for
 loan modification services.
3.
 On
 August
 25,
 2010,
 the
 Department sent
 an
 administrative subpoena
 toRespondents
 at the
 four
 addresses
 noted above.
 No
 response
 was
 received.
 The
 telephone lines
used
 by
 Respondents have also been disconnected.
 It
 does
 not
 appear that
 the
 company
 is
 doing
any
 more business
 in
 Minnesota
 at
 this time.
4. As
 part
 of its
 loan modification program,
 the
 Respondents
 offered
 and
 advertised
a
 money back guarantee
 to its
 customers
 if the
 loan
 was not
 successfully modified. Upon
information
 and
 belief,
 of the
 customers
 who did not
 receive
 a
 loan
 modification,
 no onereceived
 a
 refund
 despite
 the
 fact
 that many requested one. What
 follows
 is a
 table
 of 23
customers interviewed
 by the
 Department concerned
 the
 Respondents' business activities.Customer
J.B.
L.B.C.B.
M. &
 L.B.J.B.
A. &
 R.B.B.B.
C.C
J.C.
Fee
 Paid
SMH
 2,995
 2,995 2,100
 2,100 2,300
 3,990
 3,095
 2,395
 2,000
to
 Received
 Loan
Modification
NNNNN
N
NN
N
Refund
Requested
Y
Y
Y
Y
Y
Y
YY
N
Refund
Received
N
N
N
N
N
N
N
N
N
 
Customer
B.D.
T.D.P.D,J.D.
J.F.
K.F.
S.&MJ.
M.G.
A.G.
M.G.T.H.D.H.
L.G.
J.S.
Fee
 Paid
 to
 Received Loan
SMH Modification
 2,200
 2,395
52,000 1,00051,895 3,990 2,995
 2,995
 1,500
 2,500
 2,500
 2,000
 2,095 2,995
Y
NN
N
N
NNN
NNN
N
NN
Refund
Requested
N/A
Y
Y
YY
Y
Y
Y
Y
Y
Y
Y
Y
Y
Refund
Received
N/A
N
NN
N
NN
N
NN
N
N
N
N
Only
 one of the 23
 customers listed above
 received
 a
 loan modification.
6.
 Numerous customers
 who
 paid
 an
 advance
 fee
 stated that prior
 to the
 completion
of
 their
 loan
 modification
 services,
 Respondents' phone lines were disconnected.
7.
 The
 Respondents have been
 the
 subject
 of
 administrative actions
 in
 Michigan
 andMaryland for
 unlicensed loan modification activities.
8.
 This Order
 is in the
 public interest.
VIOLATIONS
COUNT
 I
By
 engaging
 in
 unlicensed loan modification activities
 in at
 least
 118
 instances,
 the
Respondents
 repeatedly violated Minn. Stat.
 §
 58.04, subds.
 1 and 3
 (2010).
COUNT
 II
By
 habitually failing
 to
 complete
 the
 tasks
 it was
 paid
 in
 advance
 to
 complete,
 the
Respondents
 repeatedly demonstrated untrustworthiness
 and
 incompetence
 in
 violation
 of
 Minn.
Stat.
 §
 58.12, subd. l(b)(2)(v)
 (2010).

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