TITLE: Florida Office of Financial Regulation Issues Final Order Against Lil' Wave Financial, Inc. for Compliance Violation
BODY:
On March 12, 2026, the Florida Office of Financial Regulation (OFR) issued a Final Order resolving an enforcement action against Lil' Wave Financial, Inc. and Baruch Alon Harari, the company's President and Sole Owner. The action concluded following an examination (No. 132851) conducted by the OFR to assess the respondents' compliance with Chapter 494, Florida Statutes, which governs mortgage lender licensees.
The OFR found that Lil' Wave Financial, Inc., licensed under mortgage lender license number MLD2258, failed to timely submit audited financial statements for Fiscal Year 2024, as required by Sections 494.001 and 494.0077 of Florida Statutes. This constituted a violation of Section 494.0063, Florida Statutes. Rather than pursue formal litigation, the parties resolved the matter through a Stipulation and Consent Agreement, which the OFR approved and incorporated into the Final Order.
Under the settlement terms, the respondents agreed to cease and desist from future violations of Chapter 494, Florida Statutes, and comply with all applicable provisions and rules. The respondents were required to pay an administrative fine of $2,625.00 to the OFR, payable by cashier's check or money order referencing Case Number 134037. By consenting to the Final Order, the respondents waived their rights to an administrative hearing, a Notice of Rights, separately stated Findings of Fact and Conclusions of Law, and the right to appeal the Final Order pursuant to Section 120.68, Florida Statutes.
The Final Order constitutes final agency action by the OFR and may be enforced pursuant to Chapters 494 and 120, Florida Statutes.