The following items may be of interest to the public and/or the industries DFI regulates:
Mortgage loan originators and processors were required to pass the national and state tests and submit an electronic background check through NMLS by June 30, 2010. Individuals who had an approved registration prior to this date but have not completed these requirements will have their registration suspended. Individuals cannot originate or process loans until requirements are met and registration is reinstated. Consumers can use NMLS Consumer Access 
to check the status of an individual's registration.
DFI's 2009 annual report is now available.
On June 11, DFI issued a cease and desist order [PDF 170KB] against a mortgage company called Home Ownership Possibilities for Everyone LLC (HOPE). The company is prohibited from the mortgage industry in Kentucky, including issuing new loans, soliciting or advertising in Kentucky. For more information on what to do if you were in the process of applying for a loan with HOPE, read DFI’s press release. To file a complaint, visit the complaint page or call 800-223-2579.
An order of the commissioner [PDF 67K] dated March 29, 2010, modifies KRS Chapter 286.9. The order lists additional information that check cashers are required to enter on the database and clarifies the definition of a closed transaction.
On Feb. 16, David G. Rose was sentenced to 52 months in federal prison and ordered to pay almost $3 million in restitution to investors for a scheme involving oil and gas reserves. Rose, 59, has already paid $1 million toward the restitution for 62 victims. He pleaded guilty in July to one count of tax evasion and 21 fraud-related counts. Rose promoted two oil and gas well development projects through EnTerra Energy LLC. The case was prosecuted by Assistant U.S. Attorney James R. Lesousky, and it was investigated by the FBI and the IRS. DFI obtained an agreed order of permanent injunction against EnTerra Energy on July 29, 2005, which can be viewed on our Securities Enforcement Actions page.
On Jan. 4, DFI issued an order to cease and desist [PDF 289KB] against Ideal Mortgage Bankers Ltd., doing business as Lend America, Lending Key or Consumer First. The company is prohibited from issuing new loans or soliciting or advertising in Kentucky. The company must transfer servicing of any Kentucky loans to another servicer by Jan. 31. Consumers must be notified of the transfer within 10 days. For those who were in the process of getting a loan, Ideal must make an effort to place the loan with another authorized lender or broker with similar terms. To file a complaint, visit the Complaint page or call 800-223-2579.
On Aug. 17, DFI issued a cease and desist order [PDF 1.8MB] against Taylor, Bean & Whitaker Mortgage Corporation. The company is prohibited from issuing new loans as well as soliciting or advertising in Kentucky. Also the company must stop foreclosure proceedings, but it is required to continue servicing current loans in the best interest of the consumer. For more information on what to do if you applied for a loan that did not close, or if you currently have a loan, read DFI's press release.
For information on DFI's case against Jewell Robbins, visit DFI v. Robbins. Robbins is prohibited from selling securities in Kentucky.