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| Home > Banking Division
> Enforcement Activity > 2015 OCF Licensee Enforcement |
2015 Office of Consumer Finance Licensee Enforcement |
| March > April > June > July > August > September > October > December |
| December |
Consent Orders
Bolder Comercio e Importacao e Exportacao, Inc. D/B/A Brazil Xpress
Reference # N/A
Andrea Martins
Consent Order E15-016404, December 8, 2015. Respondent authorized delegate of several foreign money transmitters agreed to cease and desist from engaging in any further foreign money transmitting business subject to the Act.
All Nations Financial, LLC
NMLS# 27890
Moin A. Ali
Consent Order E15-016451, December 18, 2015. Respondent mortgage loan originator agreed to immediately cease originating residential mortgage loans covered by the Act without first obtaining proper licensure with the Department, pay full restitution and to pay administrative penalties. Penalty: $9,000
Lihua Lin
NMLS# 301686
Consent Order E15-016489, December 7, 2015. Respondent mortgage loan originator agreed to the revocation of her license and to be permanently barred pursuant to N.J.S.A. 17:11C-70b (5). |
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| October |
Consent Order
MKBK Equity Group, LLC
NMLS# N/A
Badway P. Karam
Consent Order E15-016329, October 16, 2015. Respondent unlicensed residential mortgage lender agreed to immediately cease originating residential mortgage loans without first obtaining proper licensure with the Department and to pay administrative penalties. Penalty: $9,000
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| September |
Consent Order
Virtue Funding, LLC
NMLS# 1015993
Edward F. Koster
Consent Order E15-016270, September 3, 2015. Respondent residential mortgage broker agreed to amend its broker agreements to be compliant with the Act and its implementing rules and to pay administrative penalties. Penalty: $2,000 |
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| August |
Consent Order
Sophia Store
Reference # N/A
Manuel Ramirez
Consent Order E15-015770, August 10, 2015. Respondent unlicensed casher of checks immediately cease cashing checks for a servicing fee and obtain proper licensure and to pay administrative penalties. Penalty: $1,000
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| July |
Consent Orders
Atlantic Pacific Mortgage Corp
NMLS# 1024
Frank V. Pellegrini
Consent Order E15-016257, July 14, 2015. Respondent residential mortgage lender agreed to cease the assessment of third-party courier fees to consumers and to pay administrative penalties. Penalty: $2,000
Hansen Financial Services, Inc.
NMLS# 133360
Hansen Cheng
Consent Order E14-015182, July 7, 2015. Respondent residential mortgage broker agreed to provide audited financial statements from the period of January 1, 2013 through December 31, 2014 within 45 days from the date of the issuance of this order and to prove it has maintained the minimum net worth as required by the Department. |
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| June |
Consent Orders
El Manantial, LLC
Reference # N/A
Yasmin Gonzalez-Velasquez
Consent Order E15-015719, June 15, 2015. Respondent authorized delegate of several foreign money transmitters agreed to ensure that no fees will be charged to check cashing customers without first obtaining a license.
Kingdom First Mortgage, LLC
NMLS# 341713
Chris Ottenstroer
Consent Order E15-015782, June 19, 2015. Respondent residential mortgage broker agreed to cease charging credit report fees to borrowers in excess of the actual third-party fees, ensure that its loan application system includes the case number for each application and to pay administrative penalties. Penalty: $2,000 |
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| April |
Consent Orders
Telemate, LLC
Reference # N/A
Scott Lar
Consent Order E15-015598, April 21, 2015. Respondent unlicensed money transmitters agreed to obtain proper licensure and comply with all the requirements to conduct its money transmission business in New Jersey and to pay administrative penalties. Penalty: $5,000
Ironbound Pawn Shop
Reference # N/A
Heitor Desa
Consent Order E14-015501, April 28, 2015. Respondent unlicensed pawnbroker agreed to cease conducting unlicensed activity until the proper license obtained from the Department and to pay administrative penalties. Penalty: $2,500 |
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| March |
Consent Orders
Jet Direct Funding Corp
NMLS# 3542
Mark Anthony Spano
Consent Order E15-015522, March 9, 2015. Respondent correspondent residential mortgage lender agreed to cease unlicensed origination activities by Adam Kaplan, transfer any loans to Mark Anthony Spano currently being originated, provide a corrected application log for the period of January 1, 2014 thru January 31, 2015 and pay administrative penalties. Penalty: $5,500
East Coast Mortgage Corp
NMLS# 2785
Avelino Figueira
Consent Order E14-015403, March 23, 2015. Respondent correspondent residential mortgage lender agreed to cease unlicensed origination activities, transfer any loans to Avelino Figueira currently being originated, provide a corrected application log for the period of January 1, 2011 thru December 11, 2014 and pay administrative penalties. Penalty: $5,000
Nicholas LePore D/B/A Cash Out Check Cashing, Inc.
Reference # N/A
Consent Order E15-015580, March 26, 2015. Respondent unlicensed check casher agreed to cease and desist from any further check cashing activities and pay administrative penalties. Penalty: $5,000 |
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