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VISIT US ONLINE @ DSNEWS.COM IN THE NEWS Conix, EquityLock Partner for Home Value Protection Inc. announced a partnership in late August that will allow Conix to start offering EquityLock Protection contracts with the sale of select REO properties. The EquityLock Protection contract pro- Conix Inc. and EquityLock Solutions, noted Loan Resolution Corporation has "had to thrive in three of the toughest years this economy has seen in living memory." LRC's clients include large banks and ser- vicers. The company helps clients resolve their bad loans through modifications and short sales. According to a release issued by LRC, it has helped more than 20,000 families keep their homes. LRC is expanding its services to include property management, lending, and mortgage servicing. "Our talented, driven team members tects the value of the customer's home from future local market declines for up to 15 years. Should the property owner sell the home, they will be eligible to file a claim to recoup up to 20 percent of the original protected value amount. The contract uses a local home price index (HPI) provided by the Federal Housing Finance Agency at the time of signing to determine market movement for future claim payments. After a two-year waiting period, customers can sell their home for a profit or loss and still be eligible to receive a check if the local HPI has decreased. "In an unstable housing market, home- buyers need assurance that forces beyond their control will not turn their most valuable asset into a liability," said Ben Alev, president of Conix. "The bottom line is that use of the Equity- are the reason that we are experiencing such explosive growth," said Travis Hamel Olsen, co-president of Loan Resolution Corporation. "Since more than 11 million American mortgages are underwater, we will continue to work diligently to help families successfully avoid foreclosure and get the nation out of this mess." Founded in 2005, Loan Resolution Corporation is a full-service company for distressed mortgages and real estate. Arizona Attorney General Files Loan Mod Scam Suits Lock Protection contracts adds real value for us and our investors," said Court Gettel, chairman of Conix. "Most of all, homebuyers receive peace of mind about the prices they've paid." Conix is a national real estate investment firm based in Tucson, Arizona. EquityLock Solutions is a provider of home value protec- tion products based in Greenwood Village, Colorado. LRC's Growth During Downturn Gives It Spot on 'Inc. 500' ranked 126 out of 500 on Inc. Magazine's list of the fastest-growing private companies in the United States. The Scottsdale, Arizona-based com- Loan Resolution Corporation (LRC) pany earned its spot on the list after seeing a three-year growth rate of 2,540 percent, making it the third-fastest growing company in Arizona. In a release, the company stated that the magazine's editor-in-chief, Eric Schurenberg, announced the filing of two lawsuits against Arizona companies offering allegedly fraudulent mortgage modification services to distressed homeowners. Horne brought suits against Phoenix- Arizona Attorney General Tom Horne husband Francisco Ramos, and their new operation, La Placita Multi Services, LLC alleges the defendants falsely advertised their services and credentials. According to the complaint, La Paz Source promoted itself as a provider of foreclosure consultant services. Consumers reported the company promised to stop the foreclosure process, obtain loan modifica- tions, and communicate with lenders and servicers on their behalf. The defendants allegedly claimed they were authorized to conduct such business in the state when they were in fact not licensed for such practice. The complaint also alleges La Paz Source charged large upfront fees and then failed to provide loan modification ser- vices, resulting in lost homes in several cases. The suit charges La Paz Source with targeting the Spanish-speaking community in order to exploit the language barrier. According to the complaint, the defendants provided contracts written in English and explained the terms in Spanish, allegedly giv- ing consumers information that contradicted the actual terms of the contracts. Attorney General Horne said the lawsuits should be a warning to distressed homeown- ers to exercise caution when looking for loan modification services. "There is still a significant amount of based Making All Homes Affordable, LLC (MAHA) and Tucson-based La Paz Source, LLC, alleging fraudulent practices by the two companies. The suit against MAHA alleges the com- pany and its owners, husband and wife team Albert and Esmerelda Figueroa, violated the Consumer Fraud Act by misrepresenting the nature and value of the MAHA program. MAHA salespeople told potential clients fallout from the mortgage crisis, and consum- ers need to remain vigilant when approached about mortgage modification services," Horne said. "The legal actions that have been filed serve as a reminder that people need to be very careful about dealing only with reputable servicers." Integra Sees Increase in REO Deals that the company's program would help them obtain mortgage modifications. After paying a sum up to $1,885, the clients would find that the program offered little more than access to standardized forms and information that are currently offered for free on government websites, according to Horne. His complaint also alleges the company posted a 28 percent annual increase in REO transaction volume during the first half of this year. That comes despite the fact that available Tucson-based Integra Group Real Estate used dozens of fake consumer testimonials on its site to draw business and charged clients a fake "sales tax" of 9.3 percent. MAHA's website includes a warning to users about loan modification scams. The attorney general's complaint against La Paz Source, its owners, Maria Beltran and inventory fell by more than 34 percent for the Arizona Multiple Listing Service (MLS) over the last year. Integra also celebrated an "active roster" of REO clients, even in the face of year-over-year declines in REO activ- ity of 39 percent in Southern Arizona. "Our continued growth illustrates our commitment to our clients during challeng- ing market conditions," Eric Lichtenheld, president of Integra Group Real Estate, said. "We attribute our success to our innovative products and industry expertise to bet- 79

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