Colony Ridge Development, LLC; Colony Ridge BV, LLC; Colony Ridge Land, LLC; and Loan Originator Services, LLC
On December 20, 2023, the Bureau, together with the United States Department of Justice (DOJ), filed a complaint against land development companies Colony Ridge Development, LLC and Colony Ridge BV, LLC, affiliate mortgage company Colony Ridge Land, LLC, and loan origination company Loan Originator Services, LLC. The Bureau and DOJ alleged that defendants violated the Equal Credit Opportunity Act by targeting consumers of Hispanic origin with a predatory loan product. The Bureau separately alleged violations of the Consumer Financial Protection Act of 2010 and Interstate Land Sales Full Disclosure Act. DOJ further alleged defendants’ conduct violated the Fair Housing Act. On February 10, 2026, pursuant to a joint stipulation of voluntary dismissal, the Bureau dismissed its claims with prejudice. That same day, the DOJ notified the court in a joint motion for dismissal that the DOJ, along with the State of Texas had reached a settlement resolving the DOJ’s claims and the State of Texas’s claims in a related matter. The motion remains pending.
Related documents
Joint Stipulation of Voluntary Dismissal with Prejudice
Press release
Prepared Remarks of CFPB Director Rohit Chopra at the Press Event for Colony Ridge