Do you face the revocation of your Department of Corporations residential mortgage lending license? Consultation with an experienced white collar criminal defense attorney can help.
Mortgage lenders and brokers licensed by the California Department of Corporations operate without a great deal of regulatory and legal guidance. The laws regulating licenses for similar activity under the California Department of Real Estate are long–standing and have been interpreted by the courts. The laws governing lending and brokering under Department of Corporations licenses are relatively recent and case law interpreting these statutes is limited. As a result, the duties and responsibilities of lenders and brokers operating under Department of Corporations licenses can be vague and uncertain. In recent years, revocation proceedings relating to allegedly improper mortgage modifications have particularly increased.
Lenders licensed under the California Residential Mortgage Lending Act are subject to an extensive set of regulations. Similarly, lenders and brokers operating under the California Finance Lenders Law must interpret a complex set of regulations. The failure to comply with reporting requirements can lead to monetary penalties and license revocation.
In the case of brokers operating under Department of Corporations licenses, questions of the duties owed to lenders and to customers can create conflicts of interest and potential liability. In recent years, alleged misrepresentations and fraudulent conduct by mortgage brokers operating under the Finance Lenders Law have led to significant penalties and license revocations by the Department of Corporations. As a license holder, you may face charges based on the conduct of employees working under your license, and must maintain strict control over broker conduct.
You are entitled to legal representation in any Department of Corporations license revocation proceeding. An experienced Orange County Department of Corporations license revocation defense attorney will help explore your options and set forth a strong defense. The Law Offices of Vincent J. LaBarbera, Jr. has represented people in license revocation proceedings and other white collar criminal matters for over 30 years. These proceedings can directly affect your livelihood and undermine significant investments you have made. We will thoroughly investigate your case, advise you of all of your options, and represent you aggressively. For a confidential evaluation of your case, call us today at (949) 863-1663.