Regulatory Alerts2024-04-12
Added · Updated
Order Revoking Mortgage Lender License of Hometown Lenders, Inc.
The Connecticut Banking Commissioner revokes the mortgage lender license of Hometown Lenders, Inc. for failing to maintain the required minimum tangible net worth of $250,000, failing to notify the Commissioner of net worth decreases within fifteen days, failing to designate a qualified individual within thirty days of a vacancy, and failing to report license revocations within fifteen days. The order also mandates that Hometown Lenders, Inc. cease and desist from violating specific statutory subdivisions and imposes a civil penalty of $100,000. The penalty must be remitted to the State of Connecticut within forty-five days of the order's mailing, and the revocation becomes effective upon mailing.
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