Monday, Dec. 13, 2010 | 10:03 a.m.
CARSON CITY – The owner of a defunct mortgage company in Las Vegas has agreed to pay an $8,230 penalty to the state for several violations, including discarding sensitive consumer information in a trash bin.
Greg Navone, owner of the former First Interstate Mortgage Corp., has signed a settlement with the state Division of Mortgage Lending that includes him not seeking another license for five years.
Navone earlier this year agreed to pay a $35,000 civil penalty on a complaint filed by the Federal Trade Commission that his company improperly disposed of about 40 boxes of sensitive consumer records.
In the state settlement, Commissioner Joseph L. Wultuch said Navone closed his business in July 2007.
In the closing audit, the state found Navone operated two unauthorized offices in Las Vegas, that he hired “at least one unlicensed mortgage agent and failed to exercise reasonable supervision over the activities of that agent and its other mortgage agents.”
Navone, in the settlement, agrees had he failed to exercise reasonable supervision over the company’s agents and failed to maintain suitable records of all mortgage transactions.
The 40 boxes found in a trash bin contained the names, Social Security numbers, tax returns, mortgage applications and credit information of clients of First Interstate Mortgage.
Join the Discussion:
Check this out for a full explanation of our conversion to the LiveFyre commenting system and instructions on how to sign up for an account.
Full comments policy