TBI Mortgage Company - Order of Revocation
State of New York Banking Department
In the Matter of
TBI Mortgage Company
A Licensed Mortgage Banker Pursuant
- Respondent -
ORDER OF REVOCATION
AFTER, due and proper notice and hearing; and
AFTER, review of the transcript of the February 8, 2008 hearing on this matter and the Findings of Fact and Recommended Decision of Eric Nachman, Esq., the duly designated Hearing Officer, a copy of which is annexed hereto, I find that substantial evidence has been adduced that Respondent, a mortgage banker licensed pursuant to Article 12-D of the New York State Banking Law (the “Banking Law”), violated the provisions of Section 597 of the Banking Law and Part 410.8(b) of the Superintendent’s Regulations in that Respondent has not submitted a Volume of Operations Report for the 2006 calendar year.
NOW THEREFORE, under the authority granted to me pursuant to Sections 595(1) and 44-a of the Banking Law:
IT IS HEREBY ORDERED,
1. That Respondent file a Volume of Operations Report for the 2006 calendar year and pay a fine in the amount of $10,000 to the Banking Department no later than five days from the receipt of this Order. Payment shall be made via an electronic transfer, in immediately available funds, to:
|Bank:||JPMorgan Chase Bank
NYS Government Banking Region
12 Corporate Woods Blvd., 4th Floor
Albany, NY 12211
|Routing or ABA#:||0210-0002-1|
|Account Title:||NYS Banking Department; and|
2. That Respondent’s license as a mortgage banker is revoked pursuant to Article 12-D if the aforementioned Volume of Operations Report is not filed and the fine is not fully paid within five days from the receipt of this Order; and
3. That Respondent immediately return the mortgage banker’s license issued by the Banking Department if the aforementioned fine is not paid and the Volume of Operations Report for the 2006 Calendar year is not filed within five days from the receipt of this order.
Witness, my hand and official seal of the Banking Department at the City of New York, this 6th day of May in the Year Two Thousand and eight.
Richard H. Neiman
Superintendent of Banks