OFIR Revokes Grand Blanc Mortgage Company’s License

September 17, 2009

by Michigan RealEstateRama

LANSING, MI – September 17, 2009 – (RealEstateRama) — The Office of Financial and Insurance Regulation (OFIR) has revoked the mortgage license of Grand Blanc-based Freedom Financial Mortgage Lending, LLC for violating the state’s Mortgage Brokers, Lenders and Servicers Licensing Act. Freedom Financial failed to comply with OFIR’s license renewal process and failed to cooperate with the agency while OFIR staff attempted to conduct an examination.

“OFIR continues to use all administrative tools at our disposal to bring our licensees into compliance with Michigan law,” OFIR Commissioner Ken Ross said.

Consumers can contact OFIR to file a complaint against a mortgage company or to find out if a mortgage company is licensed to business in Michigan. OFIR can be contacted by calling (877) 999-6442 or visiting the agency’s website: www.michigan.gov/ofir.

In June, 2008, OFIR issued to Freedom Financial a notice of opportunity to show compliance and the agency recently issued a notice of intent to revoke its mortgage license. Freedom Financial failed to respond to both notices.

To view OFIR’s order, visit: http://www.michigan.gov/documents/dleg/Freedom_Financial_Mortgage__292111_7.pdf

Contact: Jason Moon 517-335-1700