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PRESTON DUFAUCHARD
CALIFORNIA CORPORATIONS COMMISSIONER
ALAN S. WEINGER (CA BAR NO. 86717)
SUPERVISING COUNSEL
320 WEST 4th Street, Ste. 750
LOS ANGELES, CALIFORNIA 90013-1105
Attorneys for Complainant
BEFORE THE DEPARTMENT OF CORPORATIONS
OF THE STATE OF CALIFORNIA
In the Matter of the Accusation of THE
COMMISSIONER OF CORPORATIONS OF
THE STATE OF CALIFORNIA,
Complainant,
vs.
CENTRAL PACIFIC MORTGAGE
COMPANY,
Respondent.
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File No. 417 0002
ORDER TO DISCONTINUE RESIDENTIAL MORTGAGE LENDING
AND/OR SERVICING ACTIVITIES PURSUANT TO
SECTION 50319, CALIFORNIA FINANCIAL CODE
TO:
CENTRAL PACIFIC MORTGAGE COMPANY
950 IRON POINT ROAD, SUITE 200
FOLSOM, CA 95630
THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA
FINDS THAT:
CENTRAL PACIFIC MORTGAGE COMPANY has failed to comply with the bonding
requirements of the California Residential Mortgage Lending Act (California Financial Code
Section 50000 et seq.) in that effective April 11, 2007 Bond No. LPM8758696 issued by
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FIDELITY AND DEPOSIT COMPANY OF MARYLAND in favor of CENTRAL PACIFIC
MORTGAGE COMPANY expired and no replacement bond has been obtained.
Based on the foregoing, Respondent is conducting residential mortgage lending
and/or servicing business in violation of Section 50205 of the Financial Code and is conducting
business in such an unsafe and injurious manner as to render further operations hazardous to the
public or to customers.
NOW, BASED ON THE FOREGOING, AND GOOD CAUSE APPEARING
THEREFORE, it is hereby ORDERED, under the provisions of Section 50319 of the California
Financial Code, CENTRAL PACIFIC MORTGAGE COMPANY immediately discontinue the
disbursement, in whole or in part, of trust funds held by the licensee and establish a separate trust
account for all subsequent