pc
nid 94022
Jul 15, 2026
ataylor@vixio.com
Florida
Florida Office of Financial Regulation - Division of Administrative Hearings
horizon scanning
91% of draft length
draft in Generated
Generated
1864 charsFlorida Office of Financial Regulation Imposes Fine and License Suspension Against Fidelity Direct Mortgage
On July 14, 2026, the Florida Office of Financial Regulation (OFR) entered a Final Order against Fidelity Direct Mortgage, LLC and Maria Dsouza-Datta, the company's principal loan originator and 99 percent owner. The OFR imposed an administrative fine of $9,750.00 and a 60-day suspension of the company's mortgage lender license (MLD1397), effective 30 days after the order's entry.
The OFR initiated enforcement action following an examination (No. 128928) covering January 1, 2023 through December 31, 2024. The examination revealed multiple violations of Florida Statutes Chapter 494 and federal mortgage servicing regulations. Violations included: failure to timely disburse mortgage insurance premium funds to escrow accounts (1,826 days after collection); failure to disburse homeowner's insurance premiums on time, causing a policy lapse; late payment of property taxes; failure to provide annual escrow analysis statements to borrowers; failure to establish loan servicing policies and procedures; and failure to maintain segregated servicing records and accounts. These violations contravened the Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA), and related federal regulations incorporated into Florida law.
The OFR issued an Administrative Complaint on May 22, 2026, seeking the stated penalties. Respondents received the complaint via certified mail on May 27, 2026, and had 21 days to request an administrative hearing. Respondents failed to timely respond or claim equitable tolling, thereby waiving their right to a hearing. The OFR must receive the $9,750.00 fine within 30 days of the order's entry, payable to the Office of Financial Regulation. Respondents may seek judicial review by filing a notice of appeal with the OFR Agency Clerk and the District Court of Appeal, First District, within 30 days of the order.
Agent draft
Not run yet.
Published
1687 charsFlorida Office of Financial Regulation Fines Fidelity Direct Mortgage $9,750 and Suspends Mortgage Lender License for Account Servicing Violations
On July 14, 2026, the Florida Office of Financial Regulation (OFR) issued a Final Order against Fidelity Direct Mortgage, LLC (Fidelity Direct), a licensed mortgage lender. The order follows a complaint issued in May 2026, alleging multiple violations of Chapter 494, Florida Statutes , and federal mortgage servicing requirements.
Key findings of the OFR include:
Failure to disburse funds in accordance with agreements: Fidelity Direct collected $3,394.38 for mortgage insurance premiums at closing but failed to apply the funds to the escrow account for 1,826 days, and instead applied collected premiums to principal, interest, and late fees in disregard of the agreement.
Mismanagement of escrow funds for insurance: Fidelity Direct failed to timely disburse funds for a borrower's homeowners' insurance premium, causing the insurance to lapse in June 2022.
Late payment of property taxes: Respondents failed to pay annual property taxes in a timely manner, paying 2021 taxes late in February 2022.
Failure to provide annual escrow analysis statements: Fidelity Direct failed to generate or provide annual escrow account statements to borrowers.
Failure to establish loan servicing policies: Fidelity Direct did not maintain policies and procedures for servicing loans.
Failure to maintain segregated servicing accounts: Fidelity Direct failed to maintain a segregated set of records and a separate depository account for servicing receipts, instead commingling servicing funds with other transactions.
The OFR imposed an administrative fine of $9,750 and a 60-day suspension of Fidelity Direct's mortgage lender license, effective 30 days after the date of the Final Order.