On September 26, state financial regulators in Hawaii, Idaho, Oregon and Texas entered into a multistate settlement agreement with a mortgage company to resolve allegations including unlicensed mortgage loan origination and processing, improper or dishonest dealings, failure to cooperate with examiners or respond to requests for information, and inadequate supervision of remote work locations. The alleged conduct took place between 2021 and 2023. Under the settlement agreement, the company will pay $669,000 in administrative penalties to the four states, with $501,750 due upon execution and the remainder held in abeyance for one year.
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