You can now read 10 articles a month for free. Read as much as you want anywhere and anytime for just 99¢.

FTC issues $7.5m fine for Do Not Call violations

WASHINGTON — A mortgage broker accused of trying to dupe veterans and active military members has been fined $7.5 million by the Federal Trade Commission.

The commission said Mortgage Investors Corp., a leading refinancer of veterans’ home loans, agreed to the civil penalty after being accused of placing more than 5 million telemarketing calls to numbers on the Do Not Call registry.

Continue reading below

The FTC said telemarketers for the Florida company also tried to mislead service members to believe that low interest, fixed-rate mortgages were available at no cost. They allegedly quoted rates that they implied would last the duration of the loan when the company really only offered adjustable rate mortgages.

The FTC announced the penalty on the 10-year anniversary of the registry, which bars telemarketers from calling numbers on the list.

Loading comments...

You have reached the limit of 10 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week