MA Division of Banks Enforcement Actions

Homespire Mortgage Corp. & Michael Jonathan Rappaport Consent Order - $10,000 Penalty, 42-Month Ban

The Massachusetts Division of Banks issued Consent Order 2026-001-CO against Homespire Mortgage Corp. and sole owner Michael Jonathan Rappaport, imposing a $10,000 administrative penalty and a 42-month prohibition from engaging in mortgage lender and mortgage broker activities in Massachusetts. The enforcement action resolves findings from a September 2025 examination that identified failures to comply with Massachusetts and federal statutes and regulations governing mortgage lenders and brokers.

M&M Tech Solutions Corp. Cease Directive - Unlicensed Money Transmission

The Massachusetts Division of Banks issued a Cease Directive against M&M Tech Solutions Corp. for conducting unlicensed money transmission activities in violation of M.G.L. chapter 169 and 169B. The company allegedly accepted $7,500 from a Massachusetts consumer for foreign transmission without proper authorization, operating outside its delegated authority as an agent of OMNEX Group, Inc. and Viamericas Corporation.

PHH Mortgage Consent Order - Servicing Deficiencies

The Massachusetts Division of Banks issued a consent order with PHH Mortgage Corporation regarding significant deficiencies in mortgage loan servicing, foreclosure, and loss mitigation processes. The order addresses issues including document execution integrity, internal controls, and third-party oversight.

Sage Bank Consent Order

The Massachusetts Division of Banks and the FDIC have issued a Consent Order against Sage Bank due to weaknesses in management, earnings, capital, liquidity, and interest rate risk. The order requires the bank to hire qualified management, ensure an effective Board of Directors, and implement a written Management Plan within 60 days.

Boston Common Mortgage Inc. Consent Order

The Massachusetts Division of Banks issued a Consent Order against Boston Common Mortgage, Inc. for substantial non-compliance with mortgage broker regulations. The order requires the company to infuse capital, maintain an adjusted net worth of $25,000, submit financial statements, revise its AML program, and establish new policies and procedures.

MutualOne Bank Consent Order

The Division of Banks and the FDIC have issued a consent order against MutualOne Bank. The order requires the bank's Board of Directors to ensure their supervision and direction of management are commensurate with the bank's size and risk profile, and to complete an independent assessment of the board and management within 90 days.

Order to Cease and Desist ATG Credit, LLC

The Massachusetts Division of Banks has issued a Temporary Order to Cease and Desist against ATG Credit, LLC, a licensed debt collector. The order stems from ATG Credit's alleged failure to provide access to its books and records for examination, a violation of state regulations.

Anthony Jacob Soss - Mortgage Loan Originator Violations Consent Order

The Massachusetts Division of Banks has issued a consent order against Anthony Jacob Soss for mortgage loan originator violations. Soss agreed to the order without admitting guilt, waiving his right to a hearing. The order stems from alleged violations related to continuing education requirements and adherence to the Nationwide Multi State Licensing System & Registry (NMLS) Rules of Conduct.

Wise US, Inc. Multistate Consent Order for AML/CFT Violations

Wise US, Inc. has entered into a multistate consent order with several state money transmission regulators due to violations of Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) programs. The order addresses deficiencies found in a multi-state examination, including issues with suspicious activity reporting and transaction monitoring.

Division of Banks v. Marla Taher Abdulnoor - Consent Order

The Massachusetts Division of Banks has issued a consent order against Marla Taher Abdulnoor, a licensed mortgage loan originator. The order stems from alleged failure to disclose a material fact in connection with her NMLS disclosures, following a prior order from the FDIC. Abdulnoor has agreed to refrain from all mortgage loan originator activities in Massachusetts.