Las Vegas Sun

November 26, 2009

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State issues cease order against Vegas escrow company

By Cy Ryan (contact)

Friday, Oct. 23, 2009 | 4:17 p.m.

CARSON CITY – The state Division of Mortgage Lending has issued an order to stop the Las Vegas-based company of Escrow Unlimited from accepting new business and is seeking to impose a minimum $20,000 fine.

The division says Pea Management Group Inc., the parent of Escrow, failed to reconcile bank accounts, designate escrow accounts and maintain correct records.

The company can appeal the allegations.

The division says Escrow Unlimited can continue to manage the present escrow accounts but cannot accept new business until a further order from the state agency.

Discussion: 1 comment so far…

  1. By lawgal4u
    10/23/09 at 5:05 p.m.
    Suggest removal

    Yet another company not qualified to do business in Las Vegas but somehow manages to get a license then rakes the people over the coals until someone in the government agency who is supposed to regulate these yahoos does something. Usually to little to late. Does anyone in these agencies do their job correctly or are the citizens once again paying for something that they get nothing in return for? Been down the sad road with the DMV and the Division of Insurance. What a joke that was.

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