Mortgage Daily

Published On: January 6, 2011

More than a hundred actions were taken by Pennsylvania regulators against lending firms and individuals during the fourth quarter.

From October through December, the Pennsylvania Department of Banking took 114 enforcement actions against companies and individuals.

The state said in a statement Thursday that 24 orders were issued against companies engaged in unlicensed mortgage loan activity. Related fines amounted to $402,000.

Another 29 companies faced orders for other violations, including three against companies engaged in unlicensed loan modifications. Cumulative fines in those cases were $226,500.

The banking department reported 61 revoked mortgage licenses, while two individuals were prohibited from doing business in Pennsylvania.

The state also highlighted four federal actions by the U.S. Attorney for the Eastern District of Pennsylvania. Indictments and civil complaints against four individuals, DeMarco REI, Inc. and OPM Group LLC were announced in connection with a foreclosure rescue scheme.

FREE CALCULATORS TO HELP YOU SUCCEED
Tools for Your Next Big Decision.

Amortization Calculator

Affordability Calculator

Mortgage Calculator

Refinance Calculator

FHA Mortgage Calculator

VA Mortgage Calculator

Real Estate Calculator

Tags

Pre-Approval Resources!

Making well educated decions in a matter of minutes and stay up to date on the latest news Mortgage Daily has to offer. Read our latest articles to stay up to date on what’s going on…

Resource Center

Since 1998, Mortgage Daily has helped millions of people such as yourself navigate the complicated hurdles of the mortgage industry. See our popular topics below, search our website. With over 300,000 articles, we are guaranteed to have something for you.

Your mortgages approval starts here.

Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here. Add 1-2 sentence here.

Stay Up To Date with Today’s Latest Rates

ï„‘

Mortgage

Today’s rates starting at

4.63%

5/1 ARM
$200,000 LOAN

ï„‘

Home Refinance

Today’s rates starting at

4.75%

30 YEAR FIXED
$200,000 LOAN

ï„‘

Home Equity

Today’s rates starting at

3.99%

3 YEAR
$200,000 LOAN

ï„‘

HELOC

Today’s rates starting at

2.24%

30 YEAR FIXED
$200,000 LOAN