Georgia Regulator Tells PennyMac To Cease And Desist

A cease-and-desist order issued by the Georgia Department of Banking and Finance to PennyMac Loan Corp. has become final, the regulator has announced. The order was issued after the department obtained evidence that PennyMac and PennyMac Loan Services LLC engaged in residential mortgage brokering/lending activities without a license or applicable exemption.

The cease-and-desist order, along with an amended order, became final late last month, the department announced last week.

SOURCE: Georgia Department of Banking and Finance

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