State sues to close LV mortgage office

Wednesday, April 18, 2001 | 11:35 a.m.

The state Financial Institutions Division sued to shut down an allegedly unlicensed Las Vegas mortgage loan office after it allegedly defied a February order by the state to close.

L. Scott Walshaw, the Financial Institutions Division's commissioner, sued Tracy Jochen doing business as Ocean West Enterprises Inc. in Clark County District Court, alleging he continued to operate an unlicensed mortgage company at 2815 South Jones Blvd. in violation of a Feb. 20 order to stop operating without first obtaining a state license.

The suit said Jochen, a former Ocean West branch manager, illegally appropriated the name and building of his former employer, Ocean West Enterprises Inc. of Tustin, Calif., after he was allegedly terminated on July 10 for failing to complete his personnel file with its Human Resources department.

Heather Lillywhite, a corporate office manager with Ocean West Enterprises Inc., said Jochen has continued to operate the Las Vegas branch office under Ocean West's name even after its relationship with the Californian parent company was terminated and the state was notified of its intention to close the office.

She said the California mortgage company has three other branch offices in Las Vegas.

The state division said it issued the cease and desist order after receiving numerous complaints over several years from consumers regarding Jochen's mortgage brokering activities and after receiving a complaint from his former employer, Ocean West, on Jan. 24.

Jochen could not be reached for comment.