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RAMCO of New York, Inc. D/B/A North Shore Capital - Order of Revocation

State of New York Banking Department


In the Matter of

RAMCO of New York, Inc. D/B/A
North Shore Capital

A Registered Mortgage Broker Pursuant
to Article 12-D of the New York Banking Law

- Registrant -

ORDER OF REVOCATION


AFTER, due and proper notice and hearing; and

AFTER, review of the transcript of the May 15, 2008 hearing in this matter and the Findings of Fact and Recommended Decision of Dale Black-Pennington, 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 broker registered 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 submitted a Volume of Operations Report for the 2006 calendar year on January 24, 2008, after the extended deadline of April 27, 2007.

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’s registration as a mortgage broker is revoked pursuant to Article 12-D upon the receipt of this Order;

  2. That Respondent immediately return the mortgage broker’s registration issued by the Banking Department upon the receipt of this order; and

  3. That Respondent pay a fine in the amount of $10,000 to the Banking Department upon receipt of this order via an electronic transfer, in immediately available funds, to:

Bank:

JPMorgan Chase Bank
NYS Government Banking Region12
Corporate Woods Blvd., 4th Floor
Albany, NY 12211
Telephone:  (518) 433-2533

Account:

573-801703
Routing or ABA#: 0210-0002-1
Account Title: NYS Banking Department; and

Witness, my hand and official seal of the Banking Department at the City of New York, this 26th day of June in the Year Two Thousand and eight.

____________________________
Richard H. Neiman
Superintendent of Banks