For Release
FTC Sends More Than $250,000 in Additional Refunds to Victims of Mortgage Modification Scheme
The Federal Trade Commission is sending a third round of checks totaling more than $250,000 to victims of a mortgage modification scheme dating back to 2009. The FTC began mailing refunds in this matter in 2012. In total, the FTC has distributed more than $900,000.
According to the FTC, First Universal Lending, LLC, Sean Zausner, David Zausner, and David J. Feingold deceived distressed homeowners with phony claims that they would negotiate with lenders to modify their mortgages. 
The FTC charged that the defendants encouraged homeowners to stop making mortgage payments, saying lenders would not negotiate unless they were at least a few months behind in their payments. After charging consumers up to $7,000 in up-front fees, the defendants did little or nothing to help them.
The FTC is providing $253,615 in refunds to 6,935 victims. Those who receive checks should deposit or cash their checks within 60 days, as indicated on the check. The FTC never requires people to pay money or provide account information to cash a refund check.
Recipients who have questions about the refunds should contact Analytics at 877-919-0836.
The FTC’s interactive dashboards for refund data provide a state-by-state breakdown of FTC refunds. In 2020, FTC actions led to $483 million in refunds to consumers across the country.
The Federal Trade Commission works to promote competition and protect and educate consumers. The FTC will never demand money, make threats, tell you to transfer money, or promise you a prize. Learn more about consumer topics at consumer.ftc.gov, or report fraud, scams, and bad business practices at ReportFraud.ftc.gov. Follow the FTC on social media, read consumer alerts and the business blog, and sign up to get the latest FTC news and alerts.