Final Order — Vertical Lending Services, LLC and Michael Ryan Nolen

Index: OFR 2026 - 369
STATE OF FLORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
VERTICAL LENDING SERVICES, LLC, and
MICHAEL RYAN NOLEN,
Case Number: 130037
Respondents.
FINAL ORDER
This cause came on for consideration and final agency action. Upon review of the record and being otherwise fully advised in the premises, the Office of Financial Regulation ("Office") hereby finds:
I . The Office has jurisdiction over the subject matter of this case and the parties hereto.
2. The entry of this Final Order concludes the above-referenced matter.
ORDERED:
A. The Stipulation and Consent Agreement (Exhibit A) is hereby approved and incorporated by reference as if fully stated herein and is adopted as the Office's Findings of Fact and Conclusions of Law. B. The parties shall comply with all terms of the Stipulation and Consent Agreement. DONE and ORDERED this j t.tl- day of July, 2026, in Tallahassee, Leon County, Florida.

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that a true and correct copy of the foregoing Final Order has been furnished to Vertical Lending Services, LLC and Michael Ryan Nolen by electronic mail at rnolen@verticallending.net and info@verticallending.net on this ' ~ of July, 2026. ion -8050 . . @flofr.gov Tel: (850) 410-9889 2

STATE OJi" .l<'LORIDA
OFFICE OF FINANCIAL REGULATION
In Re:
VERTICAL LENDING SERVICES, LLC an41
MICHAEL RY AN NOLEN,
Respondents.
Exhibit A
Cate Number: 130037
STlfULA110N AND CONSENT AGREE. IE T
The State of Florida, Office of Financial Regulation ("Office"), and VF.RTICAT. LENDING SERVICES, U.C sad MICHAEL RYAN NOLEN ("Respondents''), in consideration of the mutual promises herein, recite, stipulate, and agree as follows:
I. Background. At all times material hereto, Vertical Lending Services, LLC, is and
bas been a mortgage broker licensee pursuant to chapter 494, Florida Starutes, haying been issuod license number MBR4869. At all times material, Michael Ryan Nolen is and has been tlic Managing Member and Ninety-One (91) percent Owner ofVenical Lending Services, LLC Based upon an examination Ii.No. 127737) initiated by the Office, grounds exist to initiate administrative proceedings against Respondents pursuant to cha;:,ter 494, Florida Statutes. The parties are resolving the issues herein with this Stipulation and Consent Agreement in lieu of the Oflice conducting further proceedings on this matter. In lieu of initiating a formal proceeding, the partit:S arc herein resolving the matters a1 issue.
2. Jurisdiction. The Office is the state agency charged with the administration and
enforcement of chapter 494, Florida ~tahrtes, and the rules promulgated thereunder. The Offo:.:e has jurisdiction to bring this adminisrrativc action against Respondents pursuant lo chapter 494, Florida Statutes.

3. findings. For purp()SCS of this Stipulation and Cons1:11t Agreement, Respondents
   coJJsent to the Office making the following findings:
   a) Respondems failed to report accurate infonnation on the Mortgage Call Reports (MCR) in violation of Rule 69V-40.176(1), Florida Administrative Code, thereby section 494.004(2}, Florida Statutes.
4. Tenns and Conditions. The parties agree that the issues raised can be
   expeditiously resolved without further litigation by the execution of this Stipulation and Consent Agreement. The parties acknowledge that they have read this Stipulation and Consent Agreement and fully understand the rights, obligations, terms, duties, and responsibilities with respect to its contents. Therefore, in compromise and settlement of the foregoing findings and in consideration of the Office's forbearance from further litigation. Respondents agree to the following tenns and conditions:
   a. FUTURE COl\tPLIANCE. Respondents agree that they ~hall cease and desist from future violations of chapter 494, Florida Stamtes, and thendei; promulgatlld thereunder, and comply with all the provisions uf chapter 494, Florida Statutes, and th;; rules promulgated pursuant thereto. b. ADMINISTRATIVE FINE. Respondeats agree to pay the Office an administrative fine in the amount of Two Thousand Dollars (S?,000.00), to he paid at the time of the execution and delivery of this Stipulation and Consent Agreement. This administrative fine shall be 8Ubmitted in the form of a wire, cashier's check or money order made payable to "Office of financial R~ulation ". Such payment shall reference Case Number 130037 and shall be sent to the attention of A~ncy Clerk - c/o Carrie S. Franz, Post Office Box 8050, Tallallassee, l<lorida 32314-8050. Respondents acknowledge and agree 2

that in accordance wiU1 section 215.31. Florida Statutes, regarding the deposit of monies, (i) the tendered fine ur ~~ttlement check may be deposited in advru1ce of full execution or acceptance of the Stipulation and Consent Agreement; and (ii) such deposit shall nnt he construed as a final acceptance of the Stipulation and Consent Agreement absent full execution thereof and entry of a Final Order adopting same.
5. Final Order. Respondents consent to the entry of a Final Order, which incorporates
the tenns of this Stipulation and Consent Agreement. Respondents understand and agree that this Stipulation and Consent Agreement is subject tu the final approval of the Office of Financial Regulation and the entry of the Final Order adopting such Agreement. In the event that the Final Order is not entered, this Stipulation and Consent Agreement stlf!IJ he null and void. The Final Order inoorpoTating this StipuJation and Consent Agreement constitutes final action by the Office for which the Office may seek enforcement pursuant to the provisions of chapters 494 and 120, Florida Statutes.
6. Waiver. By Respondents' consent to the entry of a Final Ordt:c with respt:.:tlo this
proceeding, Respondents waive:
1t) Any right to separately stated Findings of Fact and Conclusions of Law; b) Any right to receipt of a Notice of Rights pursuant to chapter 120, Florida Statutes; c) Any right to an administrative hearing or issuance of a Recommended Order pursuant to chapter 120, Florida Statutes; and d' Any right to contest in any administrative forum or judicial proceeding (including, but not limited to, an appeal pursuant to section 120.68, Florida 3

7.
Statutes) the validity of any h:un, condition, obligation, or duty expressly created in this Stipulation and Consent Agreement and the Final Order. Releases. Upon full execution of this Stipulation and Consent Agreement, Respondents waive, release, and forever discharge the Oftice and its agents, representatives, and employees from any and all causes of action, in law or in equity, which Respondents may have arising out of this matter. The Office accepts this release and waiver by Respondents on behalf of itself, its agents. representatives, and employees without acknowledging, and expressly denying, that any such right or cause of action ma~ exi..sL
8. Failure to Compl,•, Respondents acknowledge, concur, and stipulate that
Respondents' failure lo comply wich any of the tenn-., ohligations. and conditions of this Stipulation and Consent Agreement. and the Final Order adopting it. is a 'violation of the written agreement and the Final Order entered pursuant to chapten; 120 and 494, Florida Statutes. Such non-compliance may result in the isruancc of an emergency cease nnd desi:it order. However, nothing herein shall be construed to limit Respondents' right tu cout .. -st any fin.Jing ot derermination of non-compliance. 9_ Attor11c,•'s Fees. Each pany herein shall be solely responsible for its ~eparate costs and attorney's fees incurred in the prosecu1ion, defense, or negotiations in this matter up to and including the entry of the Final Order adopting this Stipulation and Consent Agreement.
10. Se'erability. The parties agree !hat if any provision of this Stipulation and Consent
Agreement or the application thereof to any person or circumstance is held invalid, the Stipulation and Consent Agreement will be given efl~t without the IDva1id provision, 4nd to this end. the provisions of this Stipulation and Consent Agreement are declared severable. 4

11. Counterparts. This Stipulation and Cons~nt Agreement may be executed in any
    number of cuumi::rparts, and by the parties in separate counterparts, each of which will be deemed to be an 01iginal but all of which together will constitute but one Stipulation and Consent Agreement. Copies of this Stipulation and Consent Agreement transmitted by facsimile or electronic mail shall have the same validity as if bearing an original signature.
12. Entire Agreement This Stipulation and Consent Agreement represents the entire
    agreement by and between Respondents and the Office. Any alterations, variations, changes, modifications, or waivers of the provisions b~rc.:ofsllall Ix: valid only when they have been rcdu.:ed to wriling, duly signed by the Office and Respondents hereto, attached lo the original of this Stipulation and Consent Agreement, and subject to the approval of the Office. WHEREFORE, in consideration of the foregoing. the Office and Respondents execute this Stipulation and Consent Agreement for entry of a Final Order on the last date executed below. /this space inte11tianally leJi biant with signatures appearing un the folluwi11g page} 5

VERTICAL LENDING SERVICES. LLC:
Name: Michael Ryan Nolen
State of ~ ./-
County of /!. I/:
Title: Managing Member, and Ninety,,One
(91 ) percent Owner
Michael Ryan Nolen. as Managing Member, an\ Ninety-One (91) percent Owner of Venical Lending Services, LLC, BEl-'ORE ME by means~ physical presence or D online notarization. has sworn (or affinned) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me this__!__l day of _ / · ,; .r , 2026. Check the aA)ropriete box:
Personally known 0
OR Produced ldentificition~
Type of idc:n:ification pro<i..tccd ~ Driver's license 0 Passport 0 Other (Do not include IO number) 6 Notary Public State ol Florida , • e.n L Bacon Ill _.. ~y Commluion HH 317190 ◄ lilllllDlllllli EJ!Plrt& 211712il27

MICHAEL RYAN NOLEN:
I I
Name:
~ Michael Ryan Nolen
State of ~ •-
County of ,r; / f￾Michael Ryan Nolen, BEFORE ME by means oucl:pbysical J¥'08ence or D onlinc notarization, has sworn (or oflinncd) that he has read and understands the foregoing agreement and voluntarily signed the same. SWORN TO AND SUBSCRIBED before me thisil_ day of ..:::::...- ...., ~ , 2026. Cheek rhe appropriate box· Personally known 0 OR Produced ldentification_.2g Type ofitl~mifir.:ttiun produced~ Dri~t!r\ Lict:11:.c D Passport 0 Other (Do not inclu~ ID number) OFFICE OF FI~ANCIAL REGl7LATION 8 ~~1Dt-- for Gregory C. Oaks Notary Pulllo Slal6 of Flonda sen L llacon 111 My Comm!UIOI\ HK 33719' E)(l)irts 'U17/;{)27 7/16/2026 Date: __________ _ Gregory ('_ Oaks, Oirector Division of Consumer Finaua:
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