Regulatory Alerts2025-09-22
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Consent Agreement and Order: Commonwealth of Pennsylvania Department of Banking and Securities v. Upstart Mortgage, LLC
The Pennsylvania Department of Banking and Securities issued a Consent Agreement and Order against Upstart Mortgage, LLC for violating the Mortgage Licensing Act by servicing loans without a required license. The settlement resolves allegations that Upstart acted as an unlicensed mortgage servicer from March 2025 by indirectly servicing loans it did not own through a subservicer. Upstart agreed to pay a $6,900 fine and will receive a Mortgage Servicer license upon meeting all applicable licensing requirements.
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