Mortgage Lending Division Commissioner James Westrin yesterday served a Summary
Suspension of License on Aspen Financial Services, LLC and Jeffrey B.
Guinn. The company has held a mortgage
broker license in the state of Nevada since 1995.
State review of the company’s books and records conducted in early April
determined the company was insolvent and unable to continue in business. The Commissioner determined that continued
operation posed an imminent risk to public welfare and created an emergency
situation which required immediate action on the part of the Division.
Summary Suspension prohibits Aspen Financial Services, LLC from originating new
loans or engaging in any new activity. The order also outlines requirements for
the orderly transfer of the existing loan portfolio to a qualified servicer and
the return of REO property under management to owners or a qualified property
manager within 60 days.
“In the case of insolvency, the
Division’s primary concern is to protect consumers from harm.”
said Mortgage Lending Commissioner Jim Westrin.
“The Division will act swiftly in
these cases and will implement an appropriate plan for the orderly cessation of
copy of the order can be obtained by accessing the Division’s website at www.mld.nv.gov and clicking on the link to
or investors with questions or concerns are encouraged to call the Division at
Mortgage Lending Division
The Division is authorized to enforce the
statutes and regulations pertaining to Mortgage Bankers, Mortgage Brokers,
Mortgage Agents, Escrow Agencies, Escrow Agents and Loan Modification
Consultants, Foreclosure Consultants and other persons who provide similar
services. The mission of the Division of
Mortgage Lending (MLD) is to promote professionalism, education and ethics in
the mortgage lending, escrow, loan modification and foreclosure consultant
industries through fair regulation and coordination with industry and consumer
groups in addition to providing consumers with a fair and balanced complaint