Violation Tracker Individual Record

Company: 
Amerisave Mortgage Corporation
Current Parent Company: 
AmeriSave Mortgage
Penalty: 
$2,300,000
Year: 
2013
Date: 
July 31, 2013
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

Amerisave agreed to pay $2.3 million to 35 states and the District of Columbia to resolve litigation brought by state mortage regulators alleging that certain Amerisave engaged in loan activities for which they were not licensed and that the company failed to provide proper supervision.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Financial Regulators Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Georgia
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
mortgage lending
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.