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Home > Banking Division > Licensee Enforcement Activity
2008 Licensee Enforcement Activity
Previous Years: 2007 > 2006
September 2008


Consent Order

First Guaranty Mortgage Corporation, McLean, VA
Consent Order#E08-0357, August 18, 2008; Licensee violated the Licensed Lenders Act by charging commitment feels at closing.  Licensee ordered to refund the commitment fees charged on first mortgage loans closed from June 18, 2007 through August 18, 2008.  Penalty - $1,000; Refund to consumers $11,505.

 
June 2008


Final Orders

Moneywell Mortgage, Inc. Staten Island, NY

Daniel Mingoia, Staten Island, NY
Final Order #E05-0801, June 26, 2008, Order To Show Cause #E05-0801, February 26, 2006– Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Moneywell has required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.  Fee- $100; Fine - $2,500.

Flexible Benefits Mortgage Corp., Plainfield, NJ

Stuart Cundiff, Plainfield, NJ
Final Order #E06-0447, June 25, 2008, Order To Show Cause #E06-0447, December 29, 2006; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Flexible Benefits has required net worth, tangible net worth and./or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.   Fees - $100; Fine $2,500.

Home Funding Group, Inc., Essex Falls, NJ

Polly Morozov, Essex Falls, NJ
Final Order #E05-0847, June 25, 2008, Order To Show Cause #E05-0847, December 18, 2006; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Home Funding has required net worth, tangible net worth and./or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.    Fees - $100; Fine $2,500.

Strata Mortgage Corporation, Mt. Laurel, NJ

Brian Thompson, Mt. Laurel, NJ
Final Order #E05-0845, June 25, 2008, Order To Show Cause #E05-0845, April 21, 2006; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Strata has required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.  Fees - $100; Fine $2,500.

Andre Bernard, Inc. t/a MS Funding, West Orange, NJ

Marie Mercadante, West Orange, NJ
Final Order #E05-0686, June 25, 2008, Order To Show Cause #E05-0686, December 29, 2006; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Andre Bernard had required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.  Fees - $100; Fine $2,500.

Allegro Funding Limited Liability Company, Spring Lake, NJ

Kevin Commons, Spring Lake, NJ
Final Order #E05-0672, June 25, 2008, Order To Show Cause #E05-0672, December 29, 2006; Licensee Allegro failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensee Allegro also failed to demonstrate that it had required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensee failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.  Fees - $100; Fine $2,500.

JDS Mortgage Brokers, Inc., Dover, NJ
Athanasio Dankus, Dover, NJ
Final Order #E06-0461, June 25, 2008, Order To Show Cause #E06-0461, December 29, 2006; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that JDS has required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service therefore waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report, filing fee, and fines.  Fees - $100; Fine $2,500.

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May 2008


Order to Show Cause

Sylvander Corporation, Orange, NJ
Sylvander II, Orange, NJ
Anthony Sylvander, Rutherford, NJ
Fariba Sylvander, Orange, NJ
Order to Show Cause #E08-0356, May 5, 2008; respondents are charged with numerous violations of the Check Cashers Regulatory Act of 1993 including net worth insufficiency, fingerprinting irregularities, and failures to file currency transactions reports.  Respondents are ordered to show cause why the check cashing licenses of Sylvander Corp. and Sylvander II should not be subject to revocation and penalties. 

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April 2008


Consent Order

David Cobianchi, Randolph, NJ
Consent Order #E05-0412C, April 24, 2008.  Order to Show Cause dated March 20, 2006 was issued by Commissioner to show cause why this mortgage solicitor’s license should not be revoked and he barred for 10 years from acting as a solicitor or licensed lender for violating the Licensed Lenders Act.  Respondent entered a plea agreement to plead guilty to one count of conspiracy to make and use false statements and documents in connection with HUD activities.  Under the Consent Order the Order to Show Cause is withdrawn without prejudice to subsequent refiling upon respondent’s sentencing and entry of a judgment of conviction.

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March 2008


Sylvander Corp. t/a Town Check Cashing, Orange, NJ

Sylvander II, Inc. Orange, NJ
Anthony Sylvander, Rutherford, NJ
Fariba Sylvander, Orange, NJ
March 5, 2008 – Fariba Sylvander has been operating this check cashing business and managing bank accounts and acting as treasurer without being fingerprinted as required by the Check Cashers Regulatory Act of 1993.  Anthony Sylvander was indicted in Monmouth County on February 4, 2008 for financial facilitation of criminal activity in the first degree, racketeering, conspiracy in the second degree and promoting gambling and forgery in the third degree.  The issuance of an order of temporary license suspension would be in the public interest.  It was so ordered on March 5, 2008.

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February 2008


Final Orders

Eastern Mortgage Services, Parlin, NJ
Atul Moody, Parlin, NJ
Meena Moody, Parlin, NJ
Final Order #E05-0726, February 5, 2008; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Eastern has required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service thus waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report filing fee.  Fees - $100; Fine - $2,500.

America's Discount Lenders, Inc., Cape Coral, FL
Persio Paulino, Hoboken, NJ
Robert DiSarro, North Brunswick, NJ
Oswaldo Lleras, Cape Coral, FL
Final Order #E05-0674, February 28, 2008; Licensees failed to file an annual report setting forth information required concerning business conducted as a licensed lender.  Licensees also failed to demonstrate that Americos has required net worth, tangible net worth and/or liquid assets to conduct business as a licensed lender.  Licensees failed to request a hearing within 20 calendar days from the date of service thus waiving their rights to a hearing.  Licenses are suspended until Commissioner receives annual report filing fee.  Fees - $100; Fine $2,500.

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