Koster sues Gateway Mortgage Modification - St. Louis Business Journal:

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Koster said the company, Gateway Mortgage Modification, chargeds “large sums of money and promised it would negotiatwa new, workable solution on the client’sz existing mortgage, including a change in the terms of a loan in ordetr to help the borrower stay in the home and avoir foreclosure.” But a state investigation found that the company took customers’ money and didn’t provide the services, Koster said. A man who answeredx the phone at Gatewahy declined to comment aboutthe lawsuit. Koster said Gatewayg has about 200 curren t clients and continues to soliciymore business.
Customers are charged $2,159 if they have a mortgagew upto $100,000 and a fee of $2,999 if they have a loan balance between $300,001 and $500,000, according to statwe officials. The company also requires upfrontg paymentsbefore services, which is illegal in The lawsuit seeks restitution for customerse and civil penalties. “This is an outrageoua exploitation of people who are in financiapl trouble and may even be facing the loss ofthei homes,” Koster said in a statement.