STATBROOK NY

Statbrook Associates LLC, a mortgage lender based in New York, recently faced charges of fraud and deceit. The company allegedly misrepresented the terms of loans to consumers, leading them to take on unfair interest rates and fees. In addition, Statbrook is accused of falsely representing its relationships with certain banks in order to convince consumers to take out loans. The company faces significant fines and potential criminal penalties for their actions. This case serves as a reminder that it is important for consumers to thoroughly research lenders before taking out a loan and be wary of any offers that seem too good to be true. Trustworthy lenders will always provide clear and accurate information about the terms of a loan and disclose any potential conflicts of interest. Protecting oneself against fraud can save both time and money in the long run.