Pa. Department Of Banking Took 26 Enforcement Actions In Q2

Posted by Orb Staff on July 09, 2010 No Comments
Categories : Residential Mortgage

nnsylvania Department of Banking took 26 enforcement actions and suspended three mortgage licenses during the second quarter of the year. Enforcement highlights included six cease-and-desist orders against companies engaged in unlicensed loan modification activities, consent agreements with 10 mortgage loan companies for violations of the Mortgage Licensing Act and/or unlicensed activity, and a cease-and-desist order against an Internet payday lender that allegedly charged interest and fees in excess of state law. A comprehensive list of enforcement actions taken by the state's banking department is available online at [link=http://www.banking.state.pa.us]www.banking.state.pa.us[/link]. SOURCE: [link=http://www.banking.state.pa.us]Pennsylvania Department of Banking

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