Two Lubbock Mortgage Companies Charged with Violating Texas Deceptive Trade Practices Act

Two Lubbock mortgage companies have been targeted by the Texas Attorney General’s Office for an alleged mortgage-purchase scheme.

Attorney General Greg Abbott has charged Enhance Mortgage Corp. and Templeton Mortgage Co. with violating the Texas Deceptive Trade Practices act. According to the lawsuit filed by the state, Enhance and Templeton targeted former property owners who had previously self-financed the sale of their property to independent purchasers, particularly to retirees who lacked knowledge about real estate transactions.

In one case, the company decided to pay a former landowner lower than the original agreed-upon amount, leading the former property owner to reject the deal. The person found themselves in court, a ploy that Enhance and Templeton used regularly, having as many as 75 lawsuits on file in the Lubbock County District Court.

The state is seeking restitution for victims, and civil penalties of up to $20,000 for each violation of the Texas Deceptive Trade Practices Act.