Las Vegas Sun

March 29, 2024

Henderson company agrees to $200,000 fine over loan violations

CARSON CITY – A Henderson company has agreed to pay a $200,000 penalty levied by the state Division of Mortgage Lending for a variety of loan violations dating back to at least 2009.

CM Capital Services, LLC, which is licensed as a mortgage broker, will also pay $10,065 to cover the costs of the investigation by the state and $4,935 for the cost of attorneys.

The settlement was reached without the state filing a formal complaint. The division said it received complaints before it conducted its audit in January 2009.

CM Capital Services, formerly known as Consolidated Mortgage Company LLC, agrees to refrain from misleading and inaccurate advertisements that may contain “any untrue statement of material fact…”

CM Capital has agreed to “promptly respond to investor telephone calls or written communications…”

Under the agreement, the company will offer to resign as manager of every limited liability company that owns properties taken back from debtors through foreclosure or a deed in lieu of foreclosure. And the firm will not intentionally interfere with any vote undertaken by the remaining members of the limited liability company in their selection of a new manager.

There were also a variety of requirements that the company will follow in handling the money of investors and debtors.

The agreement was signed by Todd Parriott of CM Capital Services. The company has been licensed by the state since 1977.

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