Regulatory Alerts2024-07-29
Pennsylvania Department of Banking and Securities Consent Agreement with Liberty 1 Lending Inc.
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Liberty 1 Lending Inc. for violating the Mortgage Licensing Act by failing to maintain the required minimum net worth of $250,000. In settlement of the enforcement action, Liberty 1 Lending Inc. agreed to pay a $1,250 fine and commit to full compliance with state mortgage lending regulations. The order waives the company's right to a hearing or appeal and reserves the Department's authority to pursue further enforcement actions regarding unresolved matters.
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