REPORT FROM THE DCCA – The Department of Commerce and Consumer Affairs (DCCA) Division of Financial Institutions (DFI) issued an immediate temporary cease and desist order for a Maui woman and mortgage company operating on the Valley Isle.
Commissioner of Financial Institutions Iris Ikeda-Catalani ordered Kathleen Patricia Morris and Herman-Morris Enterprises Inc., dba Hawaii’s Premiere Mortgage Co., to cease operating as a mortgage loan originator and a mortgage loan originator company on suspicion of violating Hawaii law.
DFI alleged Morris and her company were:
· Originating a mortgage loan in a consumer’s name without their authorization;
· Receiving payoffs of mortgage loans and not remitting the payoff amounts to the lenders;
· Attempting to solicit a complainant with a payment to withdraw his complaint against the licensees.
· Using a trade name without properly notifying the Commissioner of the name;
· Failing to update the financial disclosure pursuant to changes in financial status; and
· Failing to notify the Commissioner about a revocation of a previous license;
Morris is also known by the following names: aka Kathleen P. Morris, aka Patricia Morris, aka Tricia Morris, aka Trish Schaberg, aka Tricia Schaberg, aka Patricia K. Morris, aka Kathleen K Herman, aka Patricia Kathleen Herman, aka K. P. Morris, aka Kathleen P. Morris, aka Tricia K. Morris, aka Tricia NMN Morris, aka Tricia P. Morris, aka Patricia Kathleen Morris.
Herman-Morris Enterprises Inc. also does business as: dba Hawaii’s Premier Mortgage Co., dba Hawaii’s Premiere Mortgage Co., dba Lemurian Interiors & Development, dba Nature’s Treasures of Maui.
An administrative hearing on the immediate temporary cease and desist order will be held on May 29, 2013, on Oahu.
The Division of Financial Institutions ensures the safety and soundness of state-chartered and state-licensed financial institutions, and ensures regulatory compliance by state-licensed financial institutions, escrow depositories, money transmitters, mortgage servicers, mortgage loan originators and mortgage loan originator companies by fairly administering applicable statutes and rules in order to protect the rights and funds of depositors, borrowers, consumers and other members of the public.