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Press Release
Banking Department Revokes Mortgage Broker Registration of Robert Kushner D/B/A Shore Finance


April 13, 2004

New York, N.Y: The New York State Banking Department announced the revocation of a mortgage broker's registration, Robert Kushner D/B/A Shore Finance, of Mineola, New York, for falsification, forgery and fabrication of borrower information.

"Today's announcement is a wake up call for anyone who thinks they can break the law and get away with it," Superintendent of Banks Diana L. Taylor said. "We will not tolerate abuses in the mortgage banking industry. Businesses that operate in our state must operate in a manner that commands the confidence of all New Yorkers. In following up on a complaint, our examination and subsequent hearing found that Robert Kushner does not deserve our confidence nor do we believe that his business operated honestly and fairly."

A complaint from a borrower's attorney in 2003 resulted in an examination of the broker's books and records. The Department conducted more than one examination and found that the broker had fabricated a request for verification of employment on a mortgage application and altered a gift letter bearing an attorney's signature. Following a hearing, the hearing officer recommended to the Department that the broker's registration be revoked. Had the information obtained from the examination been available at the time of the application of the mortgage broker's registration, Mr. Kushner's application would never have been approved by the Superintendent.

Robert Kushner D/B/A Shore Finance was a registered mortgage broker with the State of New York from February 10, 1998 to April 1, 2004. His office was located at 222 Jericho Turnpike, Mineola, NY, 11501.

Clients of Mr. Kushner who have questions or concerns are encouraged to call the Banking Department's toll free number at 1-877-NYS-BANK.

The New York State Banking Department is the regulator for all state-chartered banking institutions, including nine of the State's ten largest banks, and the majority of the United States offices of international banking institutions. The Department licenses and registers all of the State's mortgage brokers and mortgage bankers. The aggregate assets of the companies and institutions supervised by the Banking Department are more than $2 trillion.

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