The Georgia Department of Banking and Finance has obtained a final consent order against Kondaur Capital Corp., directing the Orange, Calif.-based firm to obey a previously issued cease-and-desist order.
The banking department originally issued a cease-and-desist order in spring 2009 after learning that Kondaur was engaging in mortgage activities without a license. After that order became final, the department obtained information indicating Kondaur was involved in lending activities for which a license was required.
The final consent order, which was issued last month and announced this week, also forbids Kondaur from operating as an unlicensed Georgia residential mortgage broker or lender, and prohibits the company from purchasing or accepting assignment of residential mortgage loans until the department licenses it to do so. Failure to comply with the final consent order may result in additional legal action, the department notes.
