 Beware of Scams!
Springtime. A season of sprouting, sunshine and...scams?
After their Rehab Loan is closed and recorded, some borrowers have reported receiving mail from a “government official” offering a better deal on a new rehab loan or a call from someone claiming to be an underwriter with Minnesota Housing offering new loan terms.
Beware - these mailings and calls are scams. Scam artists are watching public filings in county records departments and contacting folks with newly closed Minnesota Housing program loans. Lenders should warn borrowers about these scams, which seem designed to confuse borrowers into a refinance or into taking out a new loan not associated in any way with a Minnesota Housing program.
Minnesota Housing does not enforce consumer protection laws but other state entities do. Borrowers who receive these types of mailings or calls should report them to the investigators at the Minnesota Department of Commerce or the Minnesota Attorney General’s Office.
Minnesota Department of Commerce
800.657.3602
File a Complaint / Minnesota Department of Commerce - Consumer (mn.gov)
Minnesota Attorney General
800.657.3787
File a Complaint (state.mn.us)
Reminder: Virtual RLP/ELP Lender Connect Meeting
Minnesota Housing is holding a virtual RLP/ELP Lender Connect Meeting tomorrow, Wednesday, March 27 from 1 p.m. - 2 p.m. You should have already received a Teams meeting invite for the event.
In the session, we’ll provide program updates and reminders, discuss topics related to the programs and provide lenders the opportunity to ask questions. Hope to see you there!
Questions?
Contact the RLP/ELP Team at RLP.ELP@state.mn.us.
About Minnesota Housing
Minnesota Housing, the state’s housing finance agency, works to provide access to safe, stable and accessible housing Minnesotans can afford in a community of their choice. In 2023, the Agency distributed $1.85 billion in resources and served 69,500 households. Visit our website to learn more.
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