, - /

J F I 1.E 9 -

COMMONWTEALTH O F PENNSYLVANIA - - - - - - .- - - -- - - - -- - -- - -

2003DEC -3 Pi"Fi 3:'42 D E-P-A-R-TM:ENT-0-F-B.A.M-U.N-G- , , -- . - - .- - -- - -- - - - - - -- - -- - ---- - --

I .T":f f ? i j, 11/11, lP \ P!: L,, , L; Lj, ,, j;!,;liy(J ..

, - , COMIV~ONWEALTH OF PENN.SY~VAPSIA I ?ow I . NO. : 0 9 0 a3 I (ENF-ORD)

' DEPARTMENT OF BANKING, WI(EAU --

OF COR*PLIANCE, INVESTIGATION, AND LICE~SING

r '. * , V.

-

IDEAL MORTGAGE BANKERS, LTD. D/B/A : \

LEND ARlERICA , . I

i

NOTICE OF RIGHT TO APPEAL AND HEARING < \

You, Ideal Moitgage Bankers, Ltd d/b/a end Ameri'ca, have the right to appeal the attached Order withi11 10 days of the date of service. S e e 1 Pa. Code 5'35.20. The date of service is the date the Order is depo'sited in the mail, or delivered to you in person, as the case ma)I be, as set foith in 1 Pa. Code $ 33.34. If you appeal tl~e Order, you also have dright to a hearing.

, .

To file ail appeal and request a hearing on the Order, you ~llust file a petition with the Secretary of Ba~Iking witllin 10 days of the date of service. 1 Pa. Code 3 35.20. The petition

I rnust be in writing, state clearly and concisely your grouilds of interest in the subject matter, the facts you rely upon, the law you rely upon, and the relief you seek. See 1 Pa. Code 5 35.17. Please deliver your petition to:

/

Li~lllea Freeberg, Docket Clerk Office of Executive Deputy Secretary i

PeiulsylvaaiaDepa~tment ofBa1iking .

17 North Second Street, Suite 1300 Hall-isburg, PA 1 7 1 0 1

The petition lllust be received by the Docket Clerk witl:i~in the afore~llei~tio~tioned 10 day deadline. If the Docket Clerlc does not receive your petition on time, your right to a heari~~ing will be v,laived and the Order %!ill be deemed final.

)

If you clloose to file dietition cllallenging the Order, please smd an additional

Lauren Sassani, Assista~~J Counsel P e~msylvani a Depai-tilleilt of B slllkitlg 17 N. Secoild Street, Suite 1300

> . ' . I

) 1

. FI \_ED COMMONV'EALTH OF PENNSYLVANIA 2009 DEC - 3 p/j 3: 4 2

- -- -J~&~_ARTR/IENT-O.F_B.ANKIN G _- - - --_ _-_ _- - - - _--: _ _ _ _ - _ I " Dl\ p,FnT. i'-',:- zt: l k ! ! / l f I<-,

I I il UL..~ I UI dy~i ' i ! "nil: ','J J.

, < . I

, . ' COMMQNWEACTH OF PENNSPL;\7ANIA : Doclcet No. : 090 231 (ENF-ORD) - - <I

DBPA~?MENT OF BANK~NG, BUREAU . : i

OF C O ~ ~ P L I A N C E ~ INVESTIGATION I .

AND LICENI~ING I

, . V.

1

IDEAL MORTGAGE BmKERS, LTD. D/B/A : LEND AMERICA

I

ORDER -

I '

WHE&AS, the Departinent of Banki~lg ("Department") is tile Conunonwealth of

Peru~sylvania's administrative agency autl~olized and empowered to administer and enforce the

Mortgage Licensi~lg Act, 7 Pa. C.S. $ 6101 et seq,, and the Propa Coilduct of Lending and i

I

Brokering in the Mortgage Loan Business Regulation (the "Proper Conduct Regulation"), 10 Pa. ,

Code 46,l a seq.; and

FITHEREAS, the Bureau of Compliance. Investigation and Licensing (the "Bureau") is i

primarily respol?sible for adini~liste~il~g and e~lforcing tile Mortgage Lice~lsing Act ;for the

Depal-tme~lt; and I

WHEREAS, Ideal Mortgage Bailkers, Ltd, d/b/a Lend, Anlerica ("Lend America") is I

currently licensed as a Mortgage Lender, - license no. 21374, under the Moltgage - - Lice~~sing Act;

ail d L ,

WHEREAS, Lend Anlerica mai~ltoins a co~-j~orale locatioll of 520 Broad Hollow Rood,

Melville, NV 1 1747 (the "Corporate Office") and various bra~lch locations tluoughout the United

States; and

U7HEREAS, the website notice was posted on December 1,2009; and '

MrHEREIAS, as of the date of this Order, Lend Anlerica has not provided the Departlllent i

wit11 written notice that it is closing its business; and

WHEREAS, as of Dece~llbes 1, 20Ci9 there were approxi~natel y tllil-ty-six (3 6)

Peil~lsylvmia collsumers who haye lorn applications at various stages of approval with Lend I

A~llsica includiog, but not limited Lo, clear to close, processing, approval and legal cleared; and

WHEREAS, as of the date of this Order the Bureau is aware of at Ieast two PeCilsylvania I

cons,~men wl~ose lllortgage l o a ~ ~ s ase ill a closed, but uilfu~lded 1 status ~ ~ i t l i Lend America; and

WHEREAS, as of the date of this Order, there are nui~~esous coilsumers nationwide

ulllose mortgage loans are in a closed, but ui~fuilded status wit11 Lend A~merica; and

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2 / ' , . ~ 1 A

i / . I i

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- $TI-H:~RE-A'S;-~~TOY~UIT~~II'~II astg age-1 oa1-1s~i~1-I-t1-1 e-eument-p ip el-i.12 &tla a-t-Len d-.l eri ca

- - - ---L-.,- -.-- A+ -.---.--------.,---- L \

llad cominitted to closing, there IS a substanfi~1-~~~~E~il~Eddf1~tt?~~isS~~~~a1~~a~c~~~su1~~-ers-~~i-1~1-be---~-------- , % -

.---- ,

, '

lla1~1;1ed;ai~d ,)

I

1 ' ) I -

- - -

/I ~iolatibn of ~6nsent-~e~ee1;11ent and-Orderi i

M~?EREAS, on December I , 2009, the Depa~hnent receive'd a co~nplai~lt fi-om a , f

i,

consunlet. statiqg that she closed on a refinance loan with Lend A~nerica on October 16, 2009;

and . \

WHEREAS, the cons'u~ner states that her previous first mortgdge loan was \ never paild off i

from the proceeds of the refinance and thus she is now two ,- mo~lths deliilquent; and -1 i

WHEREAS, as of the dateof this order, the Bureau is aware of an additional consumer r

whose mortgage loan lias closed but that Lend America has not funded; and 4

WHEREAS, as stated above, Lend 'hl~erica'has closed but has not funded at least two . -

lo ails i~~volving Pellnsyllvallia. real property andlor P ems ylvania consu~llers ; and

WHEREAS, on February 17,.2009, Lend knerica entered into a C o ~ i s e ~ ~ t Agreemeilt

and orher (docket no. 8 0 8326 ENF-ORD) wit11 the Department as a result of the failure to h11d a ,

Peiltlsylvania loan that had closed (see attaclltnel~t D); and '.

WHEREAS, Paragap11 27 of the Febsuary 17, 2009 Consent Agree~ne~~ t and Order

states that Lend Alnerica shall not refuse to fund, or , delay fundilding of, any loan u h i c l ~ a

P 61111s~lvai1ia consulner in good faith closes wi tll Lend Anlerica unless the Pe~msylvania

consumer exesc~ses ail). a1Qlicab-l e rlgllt-of rescission 5- and -

IVHEREAS, by failing to fund loansls~e1~d Anlerica has comnlitted to closing a ~ ~ d l o r has ,

closed, Lend America is in violati011 of the February 17, 2009 Consent Agreeane~~t and Order;

and

\ /

3 i

I

contained in a licensing application within 10 days of becoming aware of the change. . 7Pa. I C.S.

$6139(+b);and , \

WHEREAS, Section 6-1 3 9(a)(2) of / the Mortgage Lice~lsing Act authorizes the ,

Depart~nent to suspend, revoke or refuse to renew a lice~lse issued under the Mortgage Lice~~sing ,

Act if the licensee lias "[flailed to co~~iply withor violated any provisioil. of this chapter or any

replatioil or order ~~ro~~lulgated or issued by the depari~nent under this chapter.'' 7 Pa. C.S. I

6139(a)(.2);and , I

M ~ ~ R E A S , Section 6139(a)(3) of the Mortgage Liceilsing Act authorizes the i

Del~astil~eiit to suspend, revoke or refuse to r e ~ ~ e ~ a-license issued-undn-the Mortgage Lice~~sing-

Act if the lice~~see has "[elhgagecl in dishonest, fsaudule~~t or illegal practices or conduct in a

business or unfair or unethical practices or collduct in co~ulectio~l with the mortgage loan

business." 7 Pa. C.S. 61 39(a)(3); and

WHEREAS, Lend Ai~~eiica has engaged in - ilnppmp es coilduct by 110 t being able to

sel-vice inortgage lo ails as desclibed above; and

WHEREAS, ?ennsylvania consuiness must be protected fiom iiltenupted lilortgage I

ser~licing; and 1

WHEREAS, to protect Pqu~sylval~ilia consumers; t11e'Department impbses an orderly ,'

vlind-down of Lend America's rights to its sa~ricing portfolio; and 1

AND NO\?' THEREFORE, since Lend Ailleiica was not engaged in the proper conduct

-

of a mortgage lellder %111e1l it refused to. complete the-pipeline andlol--fund lows i t has committed -

to close, the Bureau, pursuont to, its autl~ority referenced above hereby iinposes the following

Order:

,'

gathering. I

The pipelilie sej3ort shall include the followiog ilrformation: -

i . the name, address and tel el~hone nurnbes of tlie al~plicanl consuiner;

a, loa~rs that have i closed, but have not yet funded; . ,

b, loans - that llave been approved but that have not closed;

c. applications that have been received, but no decisioil has been made on

al~provii~g the al~plications; and ,- I

d, applicatioils that are iir the initial stages of review and docunleirt

ii, the loan numbel-;

f iii, the a ~ ~ ~ o u n t of all prepaid loan fees submitted by the applicant consulller;

\

:

ix, contact infoiinatio~~, for the brokeillei~der where the loan is placed, should ;

, ~

Tllis Pipelille Report shall be updated every ond day at 9:00 A.M. Eastenl Time and:shall

be sent td Linda Zang, Chief Coi~su~ner Services Division at ,

lzane@state.pa.us. Lend America

shall continue to update the Pipeline Report until all o'f the loans have been knded, placed with \

. .

if the loan had been funded with Lend America.

4. - ~ i e i k Upon the Effective Date of this Order, Lend ~1-11ei;ca -. shall release ally

liens filed 011 ally Pelll-~sylyai-~ia real property or filed oil property owned by Pelulsylvania I

consumerss. as a .- I result of residential mortgage loan closiilg with 1 Lend Allle~ica but not being

funded. In the evelit that the loail is subseque~~tly fu~~cled, Lend A~nerica may file a lie11 against

- - --- the l~roperty al tliat time.

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5. Recordkeeping. Upoil the Effective Date of this Order, Lend America shall ?

' lnoilltaili all required records at its do1~3orate Office, and allow the Depa~hne~lt free access to

e k m ~ i ~ ~ e tlle records as required under Sectioil 61 35(a)(2) of the Mortgage Licellsing Act.

7 1

9, Servicing. Lend America shall within 90 days of the Effective Date of this Order

transfer its servicillg lights for any P eiulsylva~~i a coonsurners' lnoltgage loans to anotl~er mortgage

ser\~icer autllorized by federal or state law to act as a rnoitgage sei-vicer. This transfer of

ser\~icii~g shall include transferring ally and all related funds or doculllents to the new mortgage ' 1

ser\~icer in colnpliallce wit11 federal law. ln addition, Lmd Alnerica shall:

- a. Provide to the Depas t~~~e~l t daily status repor$ of the loalls that 9 coi~tiilues \

to :emlice until the rnortgage l h s are properly transfe~~ed as required by this Order. The

repofi shall illclude the following iirfor~~lation: (1 ) consumer nalne, address, telel~hone nu~l~bes ; Y

(2) the state in whicl? the coilsulller resides; (3) the identity of the account/low owner; (4) the

i soulld manner such as by abiding -Ey the tenns of the transfer sendcillg agseeeme~lts an8

. coillplying qtit11 state and federal law. 1

A . -

9. Reservation of Rights. No t l~ i~~g ill this Order shall prevent tile Bureau fro111 taking

ally further admiilistsative action under the authority of the Mortgage Liceilsing Act. I

IT IS SO ORDERED.

T><c-< :. act 9 (Date)

f

- - - - -- ---- - --- -- ------- -- -. ^_ __ __ _I_ ___ _ _____._ __ ̂ _ _ - 7, ~ ~ ~ > ~ ~ ~ c d loans \yi[h l.il[ios [ h a exce.eded I-IUD stindurds \vl~.hoor slgniliczi11;mr- - - - - - - - -- - - -- -

cornpensat irlg filctoss; 8. Excecdccl1.IlJD I-equilurrlenls \s l~ct~ caloula~i~lg ltlc rr~i~xirni~m insusshle rrlorlgtipc: 0. hilctl lo proccss a loiul i r r accc~rduncc \\ti th,IJLID, [lolicy or) en~ployce loans; 10. Closcil a L ~ a ~ ~ ~ r i l l ~ ~ ~ ~ n ~ e x ~ c ~ s ~ ~ ~ c ~ ~ ~ ~ ~ ~ ~ g ~ ~ g e ~ , I _ _ btokci: , . tce-psiri~ro~an-~~EIIA~~a~~~rt~vcdt1.~~iln

~ o r ~ ~ c s p o t i d ~ ~ ~ l : 8 . ; 3:r : , ; ,; -;,, , 3u ,, I , . _ ' , _ a > p , ,

I I . fiii l~cl 10 pl.()Yi~e-tl~rr~rcqI~i'~;ef~ ~ ( L ! ~ ~ C ~ I I I ~ ~ I I ~ ~ I I ~ ~ ~ ~ ~ ' ~ ~ B ~ ~ ~ S I I ~ I ~ IM~I'S ddci$ion SO rgprovc [he I1,nrtgaige loan;

12, Sublllillcd jilsc ccl.lific;lrions; ro.1-ILJIZ i n connectic.)n wiih.Lhc subri~issitrn ol' irt;

Y cnrl y Vcri ficulion Repoll: 13. fiilcd to [illl(:ly clisclosa violations of FFIA r.eclnircnicnts i n h e ori$inatiorl of FMA-

insuri:d loa~~s in accortli~nce wil11;I-ILlD,policy on self-reporTing; 1 i t , /?lllowetl yeriI'icil~ioll.(jt-(:111plo,vr71t:1ll docur~~ants lo,be. Iland can-iadf and 19. Appr-o\~td loa~ls ll~ai tven rrc\l ill coiupliiulcc wiih R3h i~pl~raisal requirel.~~cnts.

Ly(!e 24 c,~:,R. ~ ; , r t s 202 a r ~ d 203, FI Id13 Har)tlt-,eqk>4 1551 4?'EV-5.4ON),).2 RE-V-3.4000.4 R'E'V- I CHG 2. J I (,.(. I REV-?. 40Bfl. I REV-2, ?'&t:igiii& Letters L -- 9444. '37-26,-(N-28; (),I -0 1. 05-06.05- 43, 05-48, (17-1'1, itilil 08-1 3, '

- ,. - / / , 8 , '

,j.llcsc \~i~l:\lians,:"t? g!r~l~l~ls $ ~ + ~ I J # ~ ~ ~ ~ ~ ~ ~ ; ! ~ ~ I ~ ~ ~ ~ ~ ~ ~ I ~ ~ ~ ~ ~ ~ S ~ I " ~ I : J D ' ~ R J ~ I - A ~ ~ P ~ ~ ~ ' O V Z I I A pu~uiuih 10

24 C,PR Seaions 256 (g), (i,),(M:(lj);(e$),, aail,;(f@. ~~u~~to-~-rl1&sc1<~~1s~~~ifi11:~g~~~ious~iolaian~s OF l-]UD/FMh's rcaolsllorlr 114 quimi\ jent i . iijcii~iime(i$~& a~id iie~*mhnebt wiihti~ni/nI of llN1 R's HUD/FMA a p p r ~ v a l is in the bcsl inlercsts ol'[lm Dcpsnmcot and-thc-p~blic. arid is iiecessury to

P I + O I ~ I the f'iii:~nciul inlcrcsts ol'lhc Departmenl.

~ 1 ~ ~ : ~ ~ ) ~ ~ . ~ l ' s \virlrdnl~ul actioll may hc pea pea loci it':i scqoest for. :i fleal'illg is III~C~C wilhir'l 30 clilyr (,I. youl wct:(p[ 01' illis irtbl. pui?i~~;llll to 24 .GFRl Scolion 25.,10. Plcilsr note tbill contcsling u wl[trliakiffil doex ,101 s t y llle ielian. A recjucst lor a llcslti~i:i liiial hc i l l wi.ilin5 rllld spccificully real,rrn(j o) illc jlinl;ltions set lortll iii illis Nolice of,4cirilioistra1ive Actioo. A copy of the rrqilcst I ~ I \ ~ S L fje jilcti ulilll lllc Office of Adlniriislr'ad!~e L. i i~ ' .J11(1ges 3s [ O ~ ~ O W S :

11. ljlilic b y \Jni~cd S~nlcs Posr;il Scl.vh;lT..rSTJS): office of '~t l l~, inis~ulivb h w J~lctges 45 1 7'" Slrcc~, S.W., Rcr~m '13- 133

' /

\Vnsllingto~l, 11C 20.1 10

11' scllrlir&>y n1>11 Il'iP'; coi~ricrr scnd ~ I ' Y ,-,- , ~ - A ~ . & - A - L - - - . 4 *

()rl'icc (.)I' ,AtIli~il~is~.ii(i\~~ Law ,I i~dgch 400 StrceL, S.W.. Suilc 20 1 \ ~ V ~ S \ I ~ I ~ I ~ I ~ : \ I I , [X? ;!O(Y24

l i sell(liljL! hy cnlail ~ ~ ; I I I I I C ( I i11I~\~IlIllc"t t;end 10: I

~hjiG~ll~~cl . $ c I ~

A , - , , ~ Y 1MD.s squ';:;~ for ;i llsfirinp must ulso bc salt ri~ii~ill;i~ret)orly lo ihc Murl.gilger Rc\llew Boill.J ]>ockri C'lrr'lr al 11.1~: fi)ll~\wirlf; fiddr.c:ss:

1

Mortgagee Rrviuw Dounl T.~Ork,~t Clel'k IJ,S, Dep;lll,ncal or Housing ~ l l d - l . ! ~ ~ b i \ ~ i D e ~ ~ l ~ ~ l ) l l l ~ n t

11. ~ M B ap,rtmlh l l l v ~ ~ ~ ~ ~ ~ i l h wiltltl~:fiwill ~;lctir)s. ~ h c rpprql will bc: hesrd by nn i ndcpandmll J i C, );UIIIIC!II'S proa~dL11'cs 111 24. C.F.;II. Purt 26, ,Ljdminislnl[ivr [-ilw Jtldgt in ~ c c ~ r d a i u o : w ~ ~ ; ~ ! ~ ~ . ~ ~ ~ ; ~ , ,

Sllhpw n, srld ,!,is NDiicc sl,illl serve tis,l]l!; @ ~ ~ , I ~ C T D ~ I I I ~ ~ ~ ! ~ I C ~ ~ ~ I ~ I ~ I . .A-coJ>~ oY24 ~C'!I:~R.F~~ 26 ih illso e l l F ~ ~ w O ~ . [( . IMH L l ~ c s ~ O L SrqUe~i il 11~81.i11g tvii'lli~l ihe Bliny (301 day period. 1hr'I3oiud's action str~ill beconle finul.

~ r f ~ ~ ~ j ~ ~ upon racil)i [his l':l\~[., [llc ~ ~ ~ , ) i l l ~ l l l l ~ ~ l ~ will ~SSLIO IlCW C:tlSC llulllbcrs o r

rccrl,l i l p i ~ ~ i c u ~ i l ~ l l ~ fol. co,l)~~~li(l~le~l[s (L?XCIPI I I U I C ~ I LXIOW) il~ld will i*c[~lrrl p ~ ~ l d i ~ l g

i,ppilcur inns, .flIc Deporllrle,)[ ui 11 no[ endorse any i l lo r tgp~? origitlilted 1,)' wi 1hdl.aw11 morlgagcc l,nless, p,.ias ,(, l l l e 'laic (,j' i l I r witldlawol, 21 j ' i~.lll cor111liilliltlll bas I)CEII issued r~lilling lo any sllcl~

8 , I I . . . I

David 14. Srcvcnh Assiston[ S e ~ ~ l i ~ l y [or kiollsillp - Fetlcrul Housing

C.'omnlissioner

I,l,closul~cs

' ;c: Miicllc] 1.1, Kidcr. EsC]. VI,\ l.llul4\l1, b;: 1"YiS'J" C:I.r\SS MA114 \v,tr ncs ~ ~ . ~ d s k y Sitll.l~nli KICICI' 1°C 1 :i~(, I ' ~ ( 1 , ~ t r c a .NW 5lIr I'lnol. \+'l.';l~lringloll. DC ?,f'x)3):?G- I 609

I "-..".-I. -C--

ATTACHMENT B

.F~,,,,,: 202 485 0206 page: 213 Date: I 11301200~ 5:46:38 PM

. . -..--.--9- - U.S, DEPARTqNT OF HOUSTNO AND URBAN I)EV.ELOI'mT

WAS~GTON;Di=-ZV410~9WO ''AJ el1111 * j .- - - - --. - - - - - '+Gbk".* --- - - - _ -- - - - - - - - - -- - - - -- ---A - GOV~WLGNTNAT~~NAL

MOIITO AGE ASSOCIATION November 30, '2009

VIA FACSIrnE

hk. N c h ~ e l Primeau President and CEO Ideal Mortgago BEmkers, Ltd. 520 Brcraclllollow Road b/lelville, NY 11 747 '

Re: Ideal Mortgage Banlcors, Ltb d/b/a Lend, Americn Moitpge Cop., I s sua #I026

Dear Mr. Primedu:

This lotier concerns mo&age-backed seou-ities (MBS) pools established under Guawv I

Agreeme~lts execw~ed between Ideal Mol$gage Banke~s, Ltd. (Ideal Mortgrrge), a New Yorl: corporation, as issuer (Idseal Mortgage), and d ~ e Oovoniunenc National Mortgage Association

. (Ciinnie Mae), as guarantor of the securities. 1

. Gjnnie Mae has lamed of certain actions by Ided Mortgage thaZ constihlte an went of inrmelste default und~r the terms ofthe Cnrmty Agreelnonts betww.cn. Ideal Mortgage and Ginnic

1 Mae. In a letter dated Nove~llber 30,2009, the Fedoral Housing Abnistratim (YKA) notified Ideal Mortgage of the immediate wit11,drawd of its HUD-FAA Title II approval.

I! The withdra~val of Ideal Mortgage's FHA-approved atatus constitutes an event of immediate

I. . 1

default under Section 10.01 (a)@) of the (3Uarmty Agremnents Pursuant to Section 10.04 of the Gusrunty Agennents, upon such default by Ideal Mortgage, Qi~mic Mae is entitled to terminace .i Ideal Mortgage's &t.~tl~o~-ity to act as a Ginnie Mae issuer, and to complete the axtinguisshmnt of any i! l:ede1nption, equitable, legal or other aright, title and interest of Ideal Mortgage in the mortgage pools (termination and extinp\ishmel~t), 1

I i i

Pw$~\unt to Saction, 10.03 ofthe Guaranty,Agreements, Glnnie Mae has authority to nogotiate wit11 the issuq $ remedy and coned the default. Pursuant to such authority, Gimie Mae will forbear f ~ o m inmedide1.y effecthug t1x termination and extinyislm1e11t of Ideai MortqgL.

' Ideal Mbrtgigeivill a p e l o either-seU its servicing to m trpproved Gii111ie M* issuer w i W 21 days aiter the date of this letter. In addilioli, Ideal Mongage will conlply with daily cash moitoring requircmanta of ~ i m i e - ~ a c . Ideal Morlg~ge m~Gt supply Girmie Mae with written codfirmation of tlie acceptance oftheee tenns witliu 24 houis of receipt ~ 1 t l i . s letter.

. guarillitecd by Crinuic Mde.

The action taken by Oinnio Mee by this llener shall not be dqem,ed lo preclude Ginnie Mae from taking any further remedial action ag&st Ides1 Mortgage (aod its d i r~lon, offices or . employees) deemed appropriate by Giunie Mae as a reg~ilt 01 its investigation into (he matt- addressed herein, includi~ig, but not limited to, extinguishmenf dcbannenf civil suit for money dam&g,ges, aid hnposition of civil money penalties.

Ginnie Mae sppreciateb your cooperntioll in addressing this issue promptly. If you have my questions, please ~bntact S$yhsn L. Ledbetter, Senior Vice President, Mortpge-Baoksd Seoarides, at (202) 401-8970, estensiw 4973.

Executive Vice President

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~ i n d America o , 3 ', , Page 1 of 1

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Effective immediately the company has ceased it lqan origination and operations. .

The company will continue to operate to fulfill its obligations to past and current borrowers, FNMA, G N U and the regulatory agencies.

Please use the resource links below for more information regarding:

Customer Service: C~1stomerService2~lendamerica.com e Media inquiries: mmcphail@lendamerica.com

Employee Inquiries: humanresources@lendamerica.com Transferring an FHA case number:

1. Send all FHA Case Number Transfer Requests to transfer@lendamerica.com,

2. Please provide the FHA Case Number, your Lender ID, your Sponsor ID (if applicable) to the above email.

3. Within 24 hours, after receipt of email, the case number e ill be transferred to the proper parties.

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#468l P , O D 5 /008 WBSK FEB, 11,2009 09: 54 2026282011 * , - I

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~ Q M M o N ~ ~ A L T H O F P E N N S Y L ~ ~ A N I A : DoeketNo.:09 DEPA~$MENT OF BA-NmMG, BUREAU, I " .:

- OF COM~'I~S;I~E,I~VESTIGATION AND LICENSIN,G

V,

IDEAL MORTGAGE BANKERS, LTD. D/B/A : LEND A~IERICA

CERTIFICATE OF SERVICE

I hereby certify that I have this day served a copy of the foregoing Order upon the parties below, who constitute the only parties of record in this proceediilg, in accordance with the requirements of 1 Pa. Code !$ 33.37:

BY CERTIFIED AND FIRST CLASS MAILAND FASCIMILE

M;. Michael Gle~luon ~rirneau, CEO Ideal Mortgage Balkers, Ltd. 520 Broadhollow Road Melville, NY 1 1747 facsimile (63 1)944-608 1

Mr. Cl~erud Wilkersoa, Comnplia~lce Officer Ideal Mortgage Balkers, Ltd. 520 Broadhollow Road Melville, NY 1 1747 facsi~nile (63 1)944-608 1

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Dated this 3' day of Dece~nber, 2009. - - - -2) -. \L ,... --- . 1-

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Lauren A. Sassalli Assistarlt ~oi1ise1 Attonley I.D. # 20301 6 FOR: Commonwealtl~ of Pe~msylvania Depat-tment of Balking 17 North Second Street, Suite 1300 Harrisburg, PA 17 10 1 (717) 787-1471