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Dan Haar: Foot-dragging and stonewalling by CT banking regulators

January 22, 2020 Easy Installment Loans Online  No comments

Dan Haar: Foot-dragging and stonewalling by CT banking regulators

A really odd change occurred on Oct. 23 in a hot, crowded hearing space in Hartford, in which the fate of first Alliance Lending LLC, a once-large Connecticut home loan loan provider, hung in the total amount.

Stacey Serrano, an attorney for their state Department of Banking, had presented document after document, e-mail after e-mail, to her witness, Dan Landini, an examiner for the department that is same. Serrano joined each one of these as proof and asked Landini to learn quite a few aloud with minute details, verifying they were genuine.

About this they were up to exhibit No. 391 day. Serrano and Landini would do that for several days, all into the department’s case against first Alliance, which can be faced with using unlicensed home mortgage originators to accomplish work that will require a permit.

Landini was — whilst still being is, even today — the very first substantive witness in this administrative hearing away from a lot more than 25 the division and first Alliance may phone to testify in the department’s workplaces. So that it’s shaping around be an endless litigation.

Landini isn’t yet completed therefore the 1st Alliance solicitors haven’t yet cross-examined him, even with their 4 1/2 days in the stand.

On Oct. 23, there was clearly nevertheless a hope it can end fairly.

“To the degree the witness is likely to be reading from the document that’s currently in proof, we object on due procedure grounds,” stated Craig Raabe, an attorney for first Alliance, a transcript for the hearing shows. “We think it is a waste of the time.”

The hearing officer looked to Serrano. “Is here in any manner that individuals can perhaps speed things up?”

No, Serrano proposed. The department alleged that first Alliance utilized at minimum 40 unlicensed originators for Connecticut loans. “I think it is essential we reveal for every person who these people were indeed unlicensed and what, exactly what our foundation is.”

Raabe repea...

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