HARRISBURG, Pa., April 7, 2011 /PRNewswire-USNewswire/ -- The Department of Banking's Bureau of Compliance, Investigation and Licensing took 150 enforcement actions during the first quarter of 2011. Within these actions, the department:
- Issued 34 orders against companies engaged in unlicensed mortgage loan activity, resulting in cumulative fines of $502,150.
- Issued 36 orders against companies for other violations, resulting in cumulative fines of $407,050. Six of these orders were against companies engaged in unlicensed loan modifications and eight companies were engaged in other unlicensed mortgage loan activities.
- Suspended 81 mortgage originator licenses.
- Revoked one mortgage broker license.
- Prohibited six individuals from engaging in the mortgage business in Pennsylvania.
A comprehensive list of enforcement actions taken by the Department of Banking against nondepository institutions and individuals is available online at www.banking.state.pa.us.
Consumers can file a complaint against any company regulated by the Department of Banking online or by calling 1-800-PA-BANKS.
Media contact: Ed Novak, 717-783-4721
SOURCE Pennsylvania Department of Banking