Regulatory Alerts2013-06-28
Added · Updated
Bulletin 2575 - June 28, 2013
The Connecticut Department of Banking imposed $2,500 civil penalties on New England Residential Finance, On Deck Mortgage Services, and Woodbridge Mortgage for failing to timely file required mortgage call reports, with Woodbridge Mortgage also penalized for employing unlicensed loan processors. The Commissioner issued notices of automatic suspension and intent to revoke licenses against The Receivable Management Services Corporation and Titanium Solutions for failing to maintain required surety bonds, while ordering the Law Offices of Drew Alia and GMK Solutions to cease debt negotiation activities, repay fees, and pay $100,000 penalties for operating without a license. Additionally, Sageworks Capital Inc. received a conditioned broker-dealer registration restricted to accredited investors for two years due to principal experience deficiencies, and a notice of intent to cease and desist was issued against Long Ridge Mortgage for failing to file NMLS information.