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Violation Tracker Individual Record

Company: Mortgage Master, Inc.
Penalty: $585,000
Year: 2010
Date: June 29, 2010
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Violation Description: Mortgage Master agreed to pay administrative penalties in settlement of allegations it and its MLO (mortgage loan originator) Class Members violated mortgage regulations. It paid $60,000 in settlement of allegations it conducted mortgage business activity at unlicensed locations; $200,000 in settlement of allegations it used unlicensed mortgage loan originators; $295,000 on behalf of MLO Class Members involved in the allegations; $5,000 in settlement of allegations it made reverse mortgage loans without state approval; and $25,000 in settlement of allegations it failed to comply with mortgage regulations.
Level of Government: state
Action Type: agency action
Agency: Massachusetts Division of Banks
Civil or Criminal Case: civil
Facility State: Massachusetts
Facility City: Walpole
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.