We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Mortgage Lenders Settles License Dispute With States

Law360 (June 20, 2008, 12:00 AM EDT) -- Bankrupt subprime lender Mortgage Lenders Network USA Inc. has reached settlement agreements with banking authorities in five northeastern states over its mortgage licenses.

In a motion filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, Mortgage Lenders said it had agreed to give up licenses in Maine, Pennsylvania, Rhode Island, Massachusetts and Vermont and pay Rhode Island a $42,714 penalty in order to avoid a costly legal battle over the licenses.

In its motion, the company said that the agreements with all but...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.