Las Vegas mortgage broker fined nearly $50,000
8 June 2012
A Las Vegas mortgage broker company has been fined $49,125 by the state for various violations including using unlicensed agents to negotiate deals.
The state Division of Mortgage Lending issued a cease-and-desist order against JFK Financial Inc. that agreed to a consent order.
The division conducted an examination of company records in March through May last year. It found some company agents were not properly licensed to conduct business, that the firm failed to submit the monthly reports with the required information and there were improper dates on documents on residential mortgage loans.
The order signed by Commissioner James Westrin said a follow-up examination was conducted in January this year and the company has taken corrective action.
The company, headed by Jonathan Kinney, will make the first payment of $24,125 immediately to satisfy the fine. And the remaining $25,000 must be made by Oct. 31.
Failure to follow the consent order will result in the revocation of the license.
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