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DMC Capital Markets Group In Lieu of True Name Dollar Mortgage Corp.- Order of Revocation

State of New York Banking Department


In the Matter of

DMC Capital Markets Group In Lieu of True Name Dollar Mortgage Corp.

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

- Respondent -

ORDER OF REVOCATION


AFTER, due and proper notice and hearing; and

AFTER, review of the transcript of the November 4, 2008 hearing in 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 17.2 of the Banking Law in that Respondent failed to fully pay its general assessment bills for the second, third, and fourth quarter of fiscal year 2007-08 after repeated notices.

NOW THEREFORE, under the authority granted to me pursuant to Sections 17.5 of the Banking Law:

IT IS HEREBY ORDERED,

  1. That Respondent pay the outstanding general assessments for the second, third and fourth quarters of fiscal year 2007-008 along with a fine in the amount of $25,000.00 to the Banking Department no later than five days upon receipt of this order via an electronic transfer, in immediately available funds, to:
  2.            Bank:                         JPMorgan Chase Bank
                                                 NYS Government Banking Region
                                                 12 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

  3. That Respondent immediately return the mortgage banker license issued by the Banking Department if the aforementioned payments are not received by the Banking Department within 5 days from receipt of this order.
  4. That Respondent immediately return the mortgage banker license issued by the Banking Department if the aforementioned payments are not received by the Banking Department within 5 days from receipt of this order.

Witness, my hand and official seal of the Banking Department at the City of New York, this 6th day of January in the Year Two Thousand and nine.       

 

____________________________
Richard H. Neiman
Superintendent of Banks