Regulatory Alerts2019-08-16
Added · Updated
Consent Order - Sortis Financial, Inc.
Sortis Financial, Inc. is required to pay a $500 civil penalty to the State of Connecticut for failing to file a change of address with the Nationwide Multistate Licensing System and Registry at least thirty days prior to the move and for not providing a corresponding surety bond endorsement. The order resolves allegations that the mortgage lender and consumer collection agency violated Connecticut statutes regarding address notification and bond updates. Sortis Financial waives its right to a hearing or judicial review and agrees to update internal controls to ensure future compliance with address change filing requirements.
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