Colony Ridge developers agreed to a legal settlement addressing accusations of predatory lending, including investment in infrastructure, tightened selling practices, and stricter buyer documentation requirements. The settlement stems from allegations of deceptive practices targeting Latino homebuyers and ties to a crime-ridden complex outside Houston.
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was that Colony Ridge developers sold land to undocumented people, giving rise to a crime-ridden complex of subdivisions about 30 miles outside Houston allegedly being run by Mexican drug cartels., Colony Ridge’s owners agreed to clamp down on the documentation it requires from buyers. Would-be purchasers will now have to present a Texas ID or driver’s license — which undocumented immigrants cannot obtain in Texas — or a passport or visa. The agreement did not specify that the passport has to be an American one.the owners of Colony Ridge lured would-be Spanish-speaking homebuyers into seller-financed mortgages with high interests that they could not afford. By federal authorities’ estimate, roughly one in four Colony Ridge loans resulted in foreclosure. The company would then flip those properties to new unsuspecting customers eager to become homeowners, court filings allege. The federal case, filed by the Biden administration’s Justice Department in late 2023, also accused Colony Ridge of misrepresenting facts such as guarantees of water, electricity and sewer hook-ups and whether properties had previously flooded.Pause seeking approvals for any new residential plats for three years.Ensure that its advertising and marketing is truthful.Offer discounts to peace officers in an effort to encourage them to live in the development. Earmark $20 million for law enforcement, including the construction of a new police station within the community and money specifically for immigration enforcement. Colony Ridge’s Chief Executive Officer John Harris said he was happy to reach an agreement and move on. “The settlement allows us to continue investing in our neighborhoods and supporting the thousands of families who have trusted us to provide a place for them to call home,” Harris said in a statement. “We’re glad that funds from this agreement will be directed back into the community to benefit residents.” In a statement, Paxton said the settlement had resulted in Colony Ridge’s owners paying “a steep cost for their unlawful actions.” “My office will continue to bring the full force of the law against anyone who threatens the safety of our state or creates a safe harbor for illegals,” Paxton said.“Intentionally targeting vulnerable borrowers with the American dream of homeownership and then trapping them in a predatory scheme is not only wrong, it also violates our civil rights laws,” Dhillon said. “This DOJ will go after all lenders, financiers, and land developers who participate in schemes which ultimately encourage illegal immigration.” The agreement appeared to please both immigration hardliners and those who had advocated on behalf of residents for years, raising alarms about the development even before it became a conservative lightning rod. “What I saw was astounding. A community of what looked to be an illegal immigrant city, about 35 miles outside of Houston,” Patrick said, adding, “We cannot let these cities spring up across Texas.” Michael Quinn Sullivan, publisher of the right-wing Texas Scorecard, which helped draw conservatives’ attention, said that the settlement “functionally means Colony Ridge is no longer a safe haven for illegal aliens.” He called it a “huge win on a major issue” for Paxton — currently in a heated GOP primary for U.S. Senate — and Dhillon. SuEllen Sanchez, who with her sister had filed complaints with state agencies about Colony Ridge years ago, struck an optimistic tone in aSan Antonio Mayor Gina Ortiz Jones could face a censure vote. Does it matter?San Antonio community steps up to refurbish 111-year-old Davidson Respite HouseCenter Point ISD opens Pirate Bistro, giving students hands-on culinary experienceKnow your rights: ICE encounters0:31Owners of Hunt business putting flood alert tower on propertyCommunity support pours in for Kerrville teen injured in school bus crashMore than 700 families fed during San Antonio Food Bank, Boeing distribution eventICE won’t say if it will be at upcoming San Antonio eventsSouth Texas amputee hopeful after launch of breakthrough program at UT Health San AntonioSan Antonio Coffee Festival to spotlight local roasters amid ongoing tariff challenges
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Houston-area developer Colony Ridge reaches $68 million settlement with Texas, fedsThe agreement seeks to remedy a variety of concerns raised by government officials, who accused the development’s owners of targeting Latino homebuyers with predatory loans and false promises.
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Houston-area developer Colony Ridge reaches $68 million settlement with Texas, fedsThe owners of Colony Ridge, a Houston-area developer accused of running a predatory lending scheme that deceived Latinos, agreed to a sweeping legal settlement that will require them to invest in law enforcement and infrastructure on their properties and tighten selling practices to address a...
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