Connecticut issues cease-and-desist order to MLN

Connecticut authorities have issued a temporary cease-and-desist order to Mortgage Lenders Network USA Inc., claiming the company made at least 97 loans in the state at the end of December that it did not fund or failed to fund in a timely manner, imposed excessive charges on five loans it refinanced, and employed at least 40 loan originators not registered with the state.

The cease-and-desist order said that beginning in July, MLN also failed to fund 1,409 loans in other states in a timely fashion, a

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