Wednesday, December 26, 2007
Mortgage Brokerage Sued for Identity Theft Exposure
Randall Mortgage Services Inc. and its owner and president, Robert Shepherd, was sued by Attorney General Marc Dann and the Ohio Department of Commerce for allegedly abandoning customers’ loan and personal financial information after the mortgage broker company closed its offices. Randall Mortgage Services surrendered its mortgage broker certificate of registration on August 29, 2007. The company’s main office was in Dublin, and it had branch offices in Fairlawn and Cincinnati, Ohio.
“We need to protect our personal information to prevent identity theft,” said Attorney General Marc Dann. “Businesses that collect our personal information are responsible for protecting it just like they would protect their own information. It must be properly maintained, so that no one else will gain access to it. If they don’t, we will hold them accountable.”
Randall Mortgage Services‘ landlord informed the State that its tenant left behind personal information of its customers. On October 25, 2007, the Department of Commerce sent a warning letter to Shepherd informing him to take possession and to safeguard the records. Shepherd did not respond to the letter and has not taken possession of the records.
The suit alleges violations of the Ohio Mortgage Broker Act and the Ohio Consumer Sales Practices Act. The State is seeking a permanent injunction, civil penalties against Randall Mortgage Services Inc. and Robert Shepherd, and a declaratory judgment stating that their acts or practices violate the Consumer Sales Practices Act. The suit also seeks attorney fees and court costs from the defendants.
Randall Mortgage Services initially registered as a mortgage broker in 1993. The company took mortgage loan applications from consumers and obtained their financial information, including current loan account information, wages, credit reports, bank account information and social security numbers.
mortgage fraud
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Rachel Dollar is an attorney and Certified Mortgage Banker who handles fraud recovery litigation for lenders and secondary market investors nationwide. She is a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is licensed to practice law in California and maintains offices in Santa Rosa, California. 
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