![]() ![]() American Internet Mortgage has conducted a review of all Massachusetts loans closed from Octothrough Maand identified all cases where borrowers were charged per diem interest during the period between the funding date noted on the HUD-1 that was signed at closing and the date the funds were disbursed to the borrowers. ![]() American Internet Mortgage must implement and maintain policies and procedures to ensure that, in a refinance mortgage transaction, loan proceeds are made available to the borrower on the business day following the expiration of the rescission period.NOW COME the parties in the above-captioned matter, the Division and American Internet Mortgage, and stipulate and agree as follows: WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Report. WHEREAS, the Report of Examination (Report) issued pursuant to the Division’s examination of American Internet Mortgage as of alleged non-compliance with certain applicable Massachusetts and federal statutes, rules, and regulations governing the conduct of those engaged in the business of a mortgage lender and mortgage broker in Massachusetts. WHEREAS, an examination of American Internet Mortgage was conducted pursuant to General Laws chapter 255E, section 8, as of to assess the Corporation’s level of compliance with applicable Massachusetts and federal statutes and regulations governing the conduct of those engaged in the business of a mortgage lender and mortgage broker in the Commonwealth and dba AIMLOAN.COM, San Diego, California (American Internet Mortgage or the Corporation), a licensed mortgage lender and mortgage broker under Massachusetts General Laws chapter 255E, section 2, has entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER (Consent Agreement) with representatives of the Division of Banks (Division) dated April 21, 2016, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a mortgage lender and mortgage broker, American Internet Mortgage agrees to the issuance of this CONSENT ORDER (Consent Order) by the Commissioner of Banks (Commissioner) WHEREAS, AMERICAN INTERNET MORTGAGE, INC. Mortgage Lender and Mortgage Broker LicensingĪMERICAN INTERNET MORTGAGE, INC. ![]()
0 Comments
Leave a Reply. |