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Business ProfileforGolden Empire Mortgage, Inc.
Current Alerts For This Business
DBO v. Golden Empire Mortgage
Date of Action: 5/29/2014
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.
On May 29, 2014 the California Department of Business Oversight issued notice of intent to suspend the residential mortgage lender and servicer license of Golden Empire Mortgage for 12 months after it was discovered by the department that the company had failed to make refunds to consumers for overcharges and also failed to submit their self-audit report to the department. The department found that the company also charged California borrowers interest on loans for a period in excess of one day prior to the date that the loan proceeds were disbursed from escrow in at least seven loans funded during the period of October 2011 to the present in violation of Financial Code section 50204(o), and failed to disclose the amount of such additional interest as required by Civil Code section 2948.5. Moreover, the refunds that the company did issue to some borrowers for overcharges either lacked the required consumer notices and/or were made subsequent to receiving notice of the Department's regulatory examinations or well after the date that the loans had closed, which ranged between five and 210 days. The company will pay penalties of at least $17,500.
This action is pending, and there has been no finding or admission of guilt.
DBO v. GEM
Date of Action: 5/29/2014
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
On May 29, 2014 The California Department of Business Oversight ordered Golden Empire Mortgage Inc to refund California borrowers who were charged excessive interest on loans and ordered the company to discontinue future violations of California Financial Code.
This action is final.
At-a-glance
Related Categories
Business Details
This is a multi-location business.
- Location of This Business
- 1200 Discovery Dr STE 300, Bakersfield, CA 93309-7036
- BBB File Opened:
- 1/21/1992
- Years in Business:
- 36
- Business Started:
- 9/17/1987
- Business Started Locally:
- 9/17/1987
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.BBB records show a license number of 4130360 for this business, issued by Department of Business Oversight. The expiration date of this license is 5/31/2025.
These agencies may include:
Department of Business Oversight
1515 K St Ste 200
Sacramento CA 95814
BBB records show a license number of 2427 for this business, issued by National Mortgage License. The expiration date of this license is 12/31/2025.These agencies may include:
National Mortgage License
320 W 4th St Ste 750
Los Angeles CA 90013
- Type of Entity:
- Corporation
- Alternate Business Name
- GEM Mortgage
- Related Businesses
- Business Management
- Mr. Howard D Kootstra, CEO
- Contact Information
Principal
- Mr. Howard D Kootstra, CEO
Customer Contact
- Rick L Roper, President
- Additional Contact Information
Fax Numbers
- (661) 664-2784Other Fax
Phone Numbers
- (661) 833-5800Other Phone
- (800) 834-5804Other Phone
Email Addresses
- Primary
- (661) 664-2784
Customer Complaints
1 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
09/29/2021
- Complaint Type:
- Billing Issues
- Status:
- Resolved
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