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State investigation against Puyallup “broker” has concluded, broker says

Post by C.R. Roberts / The News Tribune on Nov. 27, 2009 at 3:25 pm |
November 27, 2009 3:25 pm

A state investigation concerning Shawn Portmann of Puyallup – who was alleged to be an unlicensed mortgage broker or loan originator – has concluded, and Portmann has agreed to a state order issued in September.

“We have complied and the investigation is closed as of last Friday,” Portmann said Friday.
The State Department of Financial Institutions said in a Temporary Order to Cease and Desist that Portmann, operating with S&P Lending Group LLC, had conducted business as “Senior Loan Officer” and “engaging in the business of a mortgage broker or loan originator without first obtaining and maintaining a license.”

The department ordered that the firm and Portmann “shall immediately cease and desist from engaging in the business of a mortgage broker or loan originator for Washington consumers or property without first obtaining and maintaining a license.”

Portmann did not provide further details Friday and suggested that his legal counsel would do so.

He did deny the charges in the order. “None of that’s even accurate. It’s crazy that you’d be writing a story about it,” he said.

A DFI spokesman was unavailable Friday.

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