Final Order — Mortgage Lender

Index: OFR 2026 - 294 CKET 6/5/2026 STATE OF FLORIDA lEGAl. OFFICE OF FINANCIAL REGULATION In Re: LD CAPITAL RESIDENTIAL MORTGAGE, LLC, and MAUNICK NIRAJ SHETH, Case Number: 134702 Respondents. FINAL ORDER The State of Florida, Office of Financial Regulation ("Office"), being authorized and directed to administer and enforce chapter 494, Florida Statutes, hereby enters this Final Order with Notice of Rights ("Final Order") as authorized by the provisions of chapters 120 and 494, Florida Statutes, against LD CAPITAL RESIDENTIAL MORTGAGE, LLC, AND MAUNICK NIRAJ SHETH ("Respondents"). FINDINGS OF FACT

1. The Office has jurisdiction over the subject matter of this case and the parties hereto.
2. At all times material, LD Capital Residential Mortgage, LLC, is and has been licensed in Florida as a mortgage lender, having been issued license number MLD2386, pursuant to chapter 494, Florida Statutes. At all material times, Maunick Niraj Sheth is and has been Officer, Owner, and Principal Loan Originator of LD Capital Residential Mortgage, LLC.
3. The Office conducted an examination and found that grounds existed to initiate a legal action. On February 4, 2026, the Office issued an Administrative Complaint (Exhibit A) seeking an administrative fine of $2,625.00.
4. The Complaint contained a Notice of Rights, which fully advised Respondents that

they had twenty-one (21) days after the receipt of the Administrative Complaint within which to petition the Office for an administrative hearing to contest the allegation set forth in the Complaint, in accordance with sections 120.59 and 120.57, Florida Statutes, including the following information: TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY-ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY￾FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A W AIYER OF THE LICENSEE'S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE. 5. Respondents were served the Administrative Complaint via U.S. Certified Mail on April 20, 2026. (Exhibit B). A response was due no later than May 11, 2026. To date, the Office has neither received a written response to the Administrative Complaint nor have Respondents made a claim of equitable tolling. 6. The Findings of Fact alleged in the Administrative Complaint are hereby incorporated by reference and adopted as Findings of Fact in this Final Order. CONCLUSIONS OF LAW 7. Pursuant to sections 494.0011 and 494.0012, Florida Statutes, the Office is charged with administering and enforcing the provisions of chapter 494, Florida Statutes, and conducting examinations and investigations to determine whether any provision of chapter 494, Florida Statutes, has been violated. Thereby, the Office has jurisdiction over the subject matter of this case and of the parties hereto. 8. The Findings of Fact herein serve as the basis of the entry of this Final Order against 2

Respondents. 9. Section 120.569(2)(a), Florida Statutes, and Rule 28-106.111(2), Florida Administrative Code, require, among other things, that a response or a petition to an action which affects the substantial interests of a party be filed with the agency within 21 days of receipt of written notice of the action. 10. Section 120.569(2)(c), Florida Statutes, provides that a petition for hearing shall be dismissed if it has been untimely filed (not within 21 days). I 1. Pursuant to Rule 28-106.111(4), Florida Administrative Code, the failure of Respondents to timely respond to the Complaint constitutes a waiver of Respondents' right to an administrative proceeding. 12. The doctrine of equitable tolling can be applied in administrative cases when a party has been misled or lulled into inaction, i.e., has in some extraordinary way, been prevented from asserting his rights, or has timely asserted his rights in the wrong forum. Machules, v. Department of Admin., 523 So. 2d 1132 (Florida 1988). 13. Without any evidence of equitable tolling, it is appropriate for the Office to conclude there was none. Patz v. Dept. of Health, 864 So.2d 79, 80 (Fla. 3d DCA 2003). 14. When Respondents failed to submit a response to the Office on or before May 11, 2026, Respondents did not timely file a petition or any other document in response to the Complaint. Respondents also presented no claim, or evidence of equitable tolling. Therefore, it is appropriate for the Office to conclude there was no equitable tolling and Respondents waived their right to an administrative proceeding. 15. Based on the Findings of Fact adopted herein, the Office concludes that Respondents violated the specific statutes and rules charged in the Complaint and, as such, the specific charges in the Complaint are adopted in this Final Order as Conclusions of Law. 3

16. The Findings of Fact and Conclusions of Law that form the basis for the Complaint, together with the waiver of a hearing by Respondents, constitute grounds for the Office to revoke the mortgage lender license of Respondents (license number MLD2386) and impose an administrative fine against Respondents. Based on the foregoing Findings of Fact and Conclusions of Law, it is hereby ORDERED: A. Within ten (30) days of the docketing of this Final Order, Respondents shall pay an Administrative Fine of Two Thousand Six Hundred Twenty-Five Dollars ($2,625.00). B. Respondents shall submit the administrative fine in the form of money order, cashier's check, or wire transfer made payable to the "OFFICE OF FINANCIAL REGULATION". Such payment shall reference Case Number 134702 and shall be sent to the attention of the Agency Clerk, c/o Damaris E. Reynolds, Post Office Box 8050, Tallahassee, Florida 32314-8050. DONE and ORDERED this S~ day of June, 2026, in Tallahassee, Leon County, Florida. 4

NOTICE OF RIGHTS A PARTY WHO IS ADVERSELY AFFECTED BY THIS FINAL ORDER IS ENTITLED TO JUDICIAL REVIEW PURSUANT TO SECTION 120.68, FLORIDA STATUTES. REVIEW PROCEEDINGS ARE GOVERNED BY THE FLORIDA RULES OF APPELLATE PROCEDURE. SUCH PROCEEDINGS ARE COMMENCED BY FILING THE ORIGINAL NOTICE OF APPEAL WITH THE AGENCY CLERK FOR THE OFFICE OF FINANCIAL REGULATION AS FOLLOWS: By Mail, Facsimile or Email Agency Clerk Office of Financial Regulation Office of General Counsel P.O. Box 8050 Tallahassee, FL 32314-8050 Phone: (850) 410-9889 Fax: (850) 410-9663 Email: Agency.Clerk@flofr.gov OR Bv Hand Delivery Agency Clerk Office of Financial Regulation Office of General Counsel The Fletcher Building 101 East Gaines Street Tallahassee, FL 32399 Phone: (850) 410-9889 A COPY OF THE NOTICE OF APPEAL, ACCOMPANIED BY THE FILING FEES AS REQUIRED BY LAW, MUST ALSO BE FILED WITH THE DISTRICT COURT OF APPEAL, FIRST DISTRICT, 2000 DRAYTON DRIVE, TALLAHASSEE, FLORIDA 32399-0950, OR WITH THE DISTRICT COURT OF APPEAL IN THE APPELLATE DISTRICT WHERE THE PARTY RESIDES. THE NOTICE OF APPEAL MUST BE FILED WITH BOTH THE AGENCY CLERK FOR THE OFFICE OF FINANCIAL REGULATION AND THE DISTRICT COURT OF APPEAL WITHIN 30 DAYS OF THE RENDITION OF THE ORDER TO BE REVIEWED. 5

CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order was furnished by U.S. Certified Mail to: LD Capital Residential Mortgage, LLC, and Maunick Niraj Sheth, 1651 Mt. Vernon Road, 2nd Floor, Suite B, Dunwoody, GA 30338 on this s--rny of June, 2026. 9489 □□ □ □□ 27 6214 9311 98 6 ulation Tallahasse , -8050 Email: Agency.Clerk@flofr.gov Tel: (850) 410-9889

Exhibit A STATE OF FLORIDA OFFICE OF FINANCIAL REGULATION In Re: LD CAPITAL RESIDENTIAL MORTGAGE, LLC AND MADNICK NIRAJ SHETH, Case Number: 134702 Respondents. ADMINISTRATIVE COMPLAINT The State of Florida, Office of Financial Regulation, ("Office") files this Administrative Complaint against LD CAPITAL RESIDENTIAL MORTGAGE, LLC, and MA UNICK NIRAJ SHETH (together "Respondents"), alleging: GENERAL ALLEGATIONS

1. Pursuant to sections 494.0011 and 494.0012, Florida Statutes, the Office is charged with administering and enforcing the provisions of chapter 494, Florida Statutes, and conducting examinations and investigations to determine whether any provision of chapter 494, Florida Statutes, has been violated.

2. Section 494.00255(1 ), Florida Statutes, sets forth the acts that constitute grounds for which disciplinary action may be taken against a person licensed or required to be licensed under chapter 494, Florida Statutes.

3. Pursuant to section 494.00255(l)(u), Florida Statutes, failure to comply with any provision of chapter 494, Florida Statutes, or its corresponding rules, constitutes grounds for disciplinary action.

4. Pursuant to section 494.00255(2), Florida Statutes, the Office may impose penalties against a person it finds to be in violation of any act specified in section 494.00255, Florida Statutes; such penalties may include the revocation of a license and the imposition of a fine in an amount up to $25,000.00 for each count or separate offense.

5. Section 494.001(24), Florida Statutes, defines a "mortgage lender" as a person who makes mortgage loans or services them for others, or for compensation or gain, directly or indirectly sells or offers to sell mortgage loans to a noninstitutional investor.

6. Section 494.001 (30), Florida Statutes, defines "principal loan originator" as the licensed loan originator in charge of, and responsible for, the operation of a mortgage lender or mortgage broker, including all of the activities of the mortgage lender's or mortgage broker's loan originators, in-house loan processors, and branch managers, whether employees or independent contractors.

7. The Nationwide Multistate Licensing System and/or Registry ("'NMLS") is the mortgage licensing system and data repository of record which is statutorily mandated to be used by the Office to manage the licensing of all mortgage loan originators and mortgage entities in Florida. See section 494.001(33), Florida Statutes.

8. At all times material, LD CAPITAL RESIDENTIAL MORTGAGE, LLC, is and has been licensed with the Office as a mortgage lender (License number MLD2386).

9. At all material times, MA UNICK NIRAJ SHETH is and has been Officer, Owner, and Principal Loan Originator ofLD CAPITAL RESIDENTIAL MORTGAGE, LLC. As such, he is responsible for the daily operations of LD CAPITAL RESIDENTIAL MORTGAGE, LLC, pursuant to section 494.001(30), Florida Statutes. 2

10. The Office conducted an examination (Examination number 133282) to ascertain Respondents' compliance with Florida's statutes and corresponding rules. The examination focused specifically on Respondents' responsibility to file their financial audit reports timely and in accordance with all related provisions of Chapter 494, Florida Statutes.

11. Rule 69V-40.111(1), Florida Administrative Code, provides that the penalties, which are applicable to each ground for disciplinary action that may be imposed by the Office against a person for a violation of chapter 494, Florida Statutes, are set forth in the "Office of Financial Regulation, Division of Consumer Finance, Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities, Form OFR-494-14."

12. Pursuant to Rule 69V-40.l 11(5), Florida Administrative Code, the range for a "B" level administrative fine is between $3,500.00 to $7,500.00 and a 10 to 20 day suspension. COUNTI

13. The above general allegations are hereby re-alleged and incorporated by reference as if fully stated herein.

14. Pursuant to section 494.0063, Florida Statutes, a mortgage lender must obtain an annual financial audit report ("FAR") as of the date of the licensee's fiscal year end, as disclosed to the office on the application or a subsequent amendment to the application. The mortgage lender shall submit a copy of the report to the office within 120 days after the end of the licensee's fiscal year. All audited financial statements required by this chapter must be prepared by an independent licensed certified public accountant.

15. Previously, during Examination Number 123974, the Office found that Respondents filed a late FAR in 2023. 3

16. During the most recent examination, the Office found that Respondents failed to timely submit a FAR for the fiscal year ending on December 31, 2024, which was due on April 30, 2025, and was filed on December 22, 2025, 236 days late.

17. By failing to timely submit its 2024 FAR, Respondents violated section 494.0063, Florida Statutes.

18. Pursuant to the Disciplinary Guidelines for Mortgage Loan Originators and Mortgage Entities Form OFR-494-14, incorporated by reference in Rule 69V-40.111, Florida Administrative Code, a licensee found to have committed a violation of section 494.0063, Florida Statutes, is subject to a "B" level administrative fine and license suspension.

19. Therefore, the Office is seeking to impose a $2,625.00 administrative fine and a I-day license suspension. WHEREFORE, Respondents, LD CAPITAL RESIDENTIAL MORTGAGE, LLC, and MADNICK NIRAJ SHETH, are hereby notified that the Office intends to enter an Order imposing an administrative fine of $2,625.00 and a 1-day license suspension. [this space intentionally left blank with Notice o,lRights appearing on the next page] 4

NOTICE OF RIGHTS The licensee is entitled to be represented by counsel or another qualified representative. The licensee also has the right to request a hearing pursuant to sections 120.569 and 120.57, Florida Statutes. Such request must comply with Rules 28-106.2015 and 28-106.104, Florida Administrative Code. An Election of Proceeding form is attached for your convenience. Any such request must be filed as follows: By Mail, Facsimile or Email Agency Clerk Office of Financial Regulation Office of General Counsel P.O. Box 8050 Tallahassee, FL 32314-8050 Phone: (850) 410-9889 Fax: (850) 410-9663 Email: Agency.Clerk@flofr.gov OR By Hand Delivery Agency Clerk Office of Financial Regulation Office of General Counsel The Fletcher Building 101 East Gaines Street Tallahassee, FL 32399 Phone: (850) 410-9889 TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY￾ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY-FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A WAIVER OF THE LICENSEE'S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE. You may not make an oral request for an administrative hearing. With regard to a written request, if you fail to follow the outlined procedure, your request may be dismissed. Any request for an administrative proceeding received prior to the date of this notice is deemed abandoned and to be considered, must be timely renewed in compliance with the procedure set forth above. Mediation of this matter pursuant to section 120.573, Florida Statutes, is not available. 5

NOTICE TO RESPONDENTS In accordance with the Americans with Disabilities Act, persons with disabilities needing special accommodation to participate in this proceeding should contact the Agency Clerk no later than seven (7) days prior to the filing deadline or proceeding, at the Office of Financial Regulation, The Fletcher Building, 200 E. Gaines Street, Tallahassee, Florida 32399, Phone: (850) 410-9889, or by Email: Agency.Clerk@flofr.gov. By:~~ Damaris E. Reynolds Assistant General Counsel Office of Financial Regulation Office of General Counsel Fla. Bar No. 0037176 200 E Gaines Street Tallahassee, FL 32399-0370 Tel: 850-410-9830 Email: Damaris.Reynolds@flofr.gov CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Administrative Complaint has been sent for service via U.S. Certified Mail to: LD CAPITAL RESIDENTIAL MORTGAGE, LLC, and MADNICK NIRAJ SHETH, 11876 NW 12th Manor, Coral Spring, FL 33071 on this 4th day of February, 2026. 6 Damaris E. Reynolds Assistant General Counsel Office of Financial Regulation

AMENDED CERTIFICATE OF SERVICE I HEREBY CERTIFY that a true and correct copy of the foregoing Administrative Complaint has been sent for service via U.S. Certified Mail to LD Capital Residential Mortgage, LLC and Maunick Niraj Sheth at 1651 Mt. Vernon Road, 2nd Floor, Suite B, Dunwoody, Georgia 30338 on this lsth day of April, 2026. 2nd Attempt Damaris E. Reynolds Assistant General Counsel Office of Financial Regulation

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