Regional News

Oregon Settles With Mortgage Company

(Salem, OR) -- Oregon has reached a settlement with a California-based mortgage company that was accused of unlicensed lending and other state violations. Oregon's Division of Financial Regulation joined Hawaii, Idaho and Texas on the case against E. Mortgage Capital. It imposes fines totaling 669-thousand dollars. Oregon regulators say the company's remote work-from-home plan lacked adequate oversight of Mortgage Loan Originators, allowing unlicensed staff to earn commissions. The states also say E. Mortgage failed to cooperate or respond to requests for information.

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