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Equity Concepts, Inc. - Order of Revocation

State of New York Banking Department


In the Matter of

Equity Concepts, Inc.

A Licensed Mortgage Banker 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 December 9, 2008 hearing in this matter and the Findings of Fact and Recommended Decision of Dale A. 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 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’s license as a mortgage banker is revoked forthwith pursuant to Article 12-D of the New York Banking Law.
  2. That Respondent immediately return the mortgage banker license issued by the Banking Department.

            Witness, my hand and official seal of the Banking Department at the City of New York, this 17th day of March in the Year Two Thousand and nine.

 

____________________________
Richard H. Neiman
Superintendent of Banks

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