For several years I was a Senior Investigator for the State of Minnesota. With that experience, I now represent many regulated companies and individuals. Here is a sampling of some stories of people and companies I did not represent and were sanctioned by the State:
- A real estate agent who started referring dramatically more of his client to a closing company after the closing company sponsored a boat cruise on Lake Minnetonka was ordered to pay a civil penalty of $2,500 for violating RESPA and its anti-kickback provision.
- A real estate agent who commingled trust and personal funds and who provided false information to the Commissioner was ordered to pay a civil penalty of $100,000
- A real estate broker alleged to have failed to adequately supervise a salesperson was ordered to pay a civil penalty of $20,000
- A residential mortgage originator who allegedly disseminated false and deceptive advertisements was ordered to pay a civil penalty of $80,000
- A residential mortgage originator that failed to promptly investigate a consumer complaint, did not follow its own complaint handling guidelines, and failed to retain documentation was ordered to pay a civil penalty of $7,500
These are just examples, there are many more actions taken against licensees. Your license is your livelihood and is a privilege, not a right, that can be taken away from you buy the government. Good legal advice with can help you keep your license and your money. Call me to get advice before the Department of Commerce comes calling.
The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney. All information contained in links are the property of the linked site.
