CT Lenders can Lose License for Employees’ Action, Court Rules
August 15, 2006
Connecticut mortgage licensees are responsible for the acts of their employees and can lose their licensees even if they did not commit the act themselves, a state appellate court has ruled. In Cornelius v. Department of Banking, Frederick Cornelius, a licensed first and second mortgage broker doing business as Focus Mortgage, appealed a lower court dismissal of an earlier appeal of a department decision to pull his license and...