Prime Mortgage Funding Inc License Revoked for False Asset Documentation

STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES Before the Director of the Department of Insurance and Financial Services

In the matter of:

Prime Mortgage Funding, Inc. FL-0020387 Enforcement Case No. 25-18668 NMLS ID: 1475017 Respondent. _____________________________/

Issued and entered On March 16, 2026 by Aaron Luetzow Senior Deputy Director ORDER ACCEPTING STIPULATION

Based upon the Stipulation to Entry of Order and the files and records of the Department of Insurance and Financial Services (DIFS) in this matter, the Senior Deputy Director finds and concludes that:

1. The Senior Deputy Director has jurisdiction and authority to adopt and issue this Order Accepting Stipulation in this proceeding pursuant to the Mortgage Brokers, Lenders, and Servicers Licensing Act (MBLSLA), MCL 445.1651 et seq., and the Michigan Administrative Procedures Act (APA), MCL 24.201 et seq.
2. Acceptance of the Stipulation to Entry of Order is reasonable and in the public interest.
3. All applicable provisions of the MBLSLA and the APA, including but not limited to the notice and service provisions, have been either satisfied or waived by all Parties.
4. On or about December 9, 2025, DIFS served a Notice of Opportunity to Show Compliance (NOSC) on Respondent. In the NOSC, DIFS asserted that Respondent provided false asset documentation to lenders, and thus, violated the MBLSLA pursuant to Section 22(b) of the MBLSLA, MCL 445.1672(b). DIFS further asserted in the NOSC that Respondent justification for the Director to order the payment of a civil fine and/or other licensing sanctions pursuant to Section 29(2) of the MBLSLA, MCL 445.1679(2).

5. Respondent neither admits nor denies the allegations set forth in the NOSC, but it has agreed to the Stipulation to Entry of Order to resolve this matter.
   Now therefore, based upon the Stipulation to Entry of Order and the facts surrounding this case, IT IS ORDERED THAT:

6. All agreements contained in the Stipulation to Entry of Order are accepted and adopted in their entirety.
   Order Accepting Stipulation Respondent Prime Mortgage Funding, Inc. Enforcement Case No. 25-18668 Page 2 of 2

7. Respondent shall comply with all terms agreed to in the Stipulation to Entry of Order. A failure to comply with a term in the Stipulation shall be deemed a violation of this Order.

8. Respondent MBLSLA license is hereby REVOKED, retroactively effective to December 31, 2024.

9. The Senior Deputy Director retains jurisdiction over the matters contained herein and has the authority to issue such further order(s) as shall be deemed just, necessary, and appropriate in accordance with the MBLSLA. Failure to abide by the terms and provisions of the Stipulation to Entry of Order and this Order may result in the commencement of additional proceedings.
   ____________________________________ Dated: March 16, 2026 Aaron Luetzow Senior Deputy Director

STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES Before the Director of the Department of Insurance and Financial Services

In the matter of:

Prime Mortgage Funding, Inc. FL-0020387 Enforcement Case No. 25-18668 NMLS ID: 1475017 Respondent.

____________________________/ STIPULATION TO ENTRY OF ORDER

Prime Mortgage Funding, Inc. (Respondent) stipulates to the following:

1. Respondent was a licensed mortgage broker under the Mortgage Brokers, Lenders, and Servicers
2. Respondent had the opportunity to have this Order Accepting Stipulation and Stipulation to Entry of Order reviewed by legal counsel.
3. Respondent has read and understands this Consent Order.
4. Respondent understands that Respondent has a right to a hearing before an administrative law judge, at which DIFS would be required to prove the charges set forth by presentation of evidence and legal authority and at which Respondent would be entitled to appear, to cross-examine all witnesses presented by DIFS, and to present such testimony or other evidence or legal authority deemed appropriate as a defense to said charges. Respondent understands and intends that by agreeing to the Consent Order, Respondent is knowingly and voluntarily waiving right, pursuant to the MBLSLA, the Administrative Procedures Act (APA), MCL 24.201 et seq., and applicable administrative rules to a hearing before an Administrative Law Judge.
5. Respondent agrees that all parties have complied with the procedural requirements of the MBLSLA and the APA.
6. The Senior Deputy Director retains jurisdiction over the matters contained herein.
7. On or about December 9, 2025, DIFS served a Notice of Opportunity to Show Compliance (NOSC) on Respondent. In the NOSC, DIFS asserted that Respondent provided false asset documentation to lenders, and thus, violated the MBLSLA pursuant to Section 22(b) of the MBLSLA, MCL Director to order the payment of a civil fine and/or other licensing sanctions pursuant to Section 29(2) of the MBLSLA, MCL 445.1679(2).

3/12/2026