CHENEY, Wash. – A local general contractor, Jeremy Alvis, is embroiled in a legal battle over an alleged mortgage fraud scheme that has left him fighting for his home.
The Washington State Department of Financial Institutions is actively investigating Pacific Mortgage Center (PMC), owned by Alan Hurd, following complaints from Alvis and others. Alvis, who has lived in Cheney for 20 years, embarked on a refinancing effort that he says turned into a nightmare.
Alvis claims that PMC attempted to foreclose on his home unlawfully. “They did attempt to foreclose on me in ways that did not follow the law,” Alvis said. Alvis explained that he trusted the bankers, believing they had a fiduciary duty to their customers. “With doing refi’s in the past I know that the bankers have a fiduciary duty to their customers. And so, I rely on that,” he said.
Alvis stated that Bob Calhoun at PMC offered him a custom loan due to his skewed debt-to-income ratio. Alvis also had a cannabis growing license attached to his property, he says he wasn’t using at the time, so he would not qualify for a conventional loan. Calhoun assured him they could build a loan and eventually roll it into a more conventional one…