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News & Press: Industry News

PACE Desist and Refrain Order and State Warning

Tuesday, June 16, 2020  
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On May 27, the California Department of Business Oversight announced an order to ban from the PACE industry an Encino company that allegedly engaged in a pattern of fraud that included peddling PACE as a “free government program,” forging signatures on contracts, and impersonating homeowners on contract confirmation calls. A Desist and Refrain Order was issued against Eco Technology, Inc. (Eco Tech) demanding the company discontinue its illegal practices and stop soliciting PACE contracts, which finance energy-efficient home improvements through property tax assessments.

A week earlier, the DBO also issued an alert about misleading mailers that companies have sent to homeowners with PACE financing. These mailers falsely inform consumers they are behind on payments and facing foreclosure. The entities providing these notices may be in the business of buying properties in foreclosure or providing foreclosure rescue services. The mailers often include a document from Retran Foreclosure Listing Service that falsely states a consumer is behind on their PACE financing payments. It appears that Retran Foreclosure Listing Service sells false documents to the companies that mail notices to consumers.

California Land Title Association

1215 K Street #1816 Sacramento, CA 95814-3905
Email:  |  Phone: 916-444-2647  |   Fax: 916-444-2851