Weekly News via Email
   Set as homepage | Add to favorites | Customer Service | Subscribe Now | Place an Ad | Contact Us | Sitemap Tuesday, 08.21.2018
News Archive
Su Mo Tu We Th Fr Sa
 1  2  3  4
 5  6  7  8  9  10  11
 12  13  14  15  16  17  18
 19  20  21  22  23  24  25
 26  27  28  29  30
Online Extras
Site Services
Around Bend
Outdoor Fun
Travel Info
Shop Local

Members Of

Poll: Today's Live Poll
Email to a friend | Print this | PDF version | Comments (1 posted) 
  Blogger |   del.icio.us |   digg |   newsvine

Apr 24,2009
State bans Portland mortgage loan originator
by Bend Weekly News Sources

SALEM, Ore. – In an ongoing effort to better protect Oregon mortgage borrowers from fraud, the Department of Consumer and Business Services issued a cease-and-desist order permanently barring Larry Jason Somera of West Linn from the mortgage lending industry after he pleaded guilty in Multnomah County Court to one count of forgery. Somera agreed to sign the state’s order as part of his plea agreement.

As a branch manager for Northwest Funding Group in Portland, Somera forged another person’s signature on a document to support rental income in order to obtain a personal mortgage loan. He was sentenced in December by Multnomah County Judge Michael J. McShane to five years of probation, and was ordered to compensate the victim – the person who Somera victimized by forging his signature – with $1,500, and complete 200 hours of community service.

Somera has been a loan originator for several mortgage brokers in Oregon and Washington since 2003 including Comcor Corp., dba Cyber One Mortgage, and American Pacific Mortgage Corp. Somera also was the manager of West Coast Capital LLC, a company he created.

“Oregonians should be able to expect the highest professional and ethical standards when working with a mortgage lender and loan originators,” said David Tatman, administrator of the department’s Division of Finance and Corporate Securities. “We will not allow persons who breach those standards to work in the Oregon mortgage lending industry.”

The state’s order concludes a joint investigation conducted by the Portland Police Bureau, Multnomah County District Attorney, and DFCS investigators.

With additional staff provided by the 2008 Legislature, the Department of Consumer and Business Services has stepped up its enforcement efforts in mortgage lending. In 2008, the department issued sanctions in 49 mortgage lending cases, including fines totaling $278,500 and 11 cases in which it revoked a license or prohibited an individual from conducting mortgage business in Oregon.

15028 times read

Related news
No matching news for this article
Did you enjoy this article? Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00Rating: 5.00 (total 18 votes)

Market Information
Breaking News
Most Popular
Most Commented
Featured Columnist
Horoscope Guide
Aquarius Aquarius Libra Libra
Aries Aries Pisces Pisces
Cancer Cancer Sagittarius Sagittarius
Capricorn Capricorn Scorpio Scorpio
Gemini Gemini Taurus Taurus
Leo Leo Virgo Virgo
Local Attractions
Bend Visitors & Convention Bureau
Bend Visitors & Convention Bureau

Mt. Bachelor Resort
Mt. Bachelor Resort

Les Schwab Ampitheater
Les Schwab Ampitheater

Deschutes County Fairgrounds
Deschutes County

Tower Theatre
Tower Theatre

The High Desert Museum


Deschutes County

  Web    BendWeekly.com
© 2006 Bend Weekly News
A .Com Endeavors, Inc. Company.
All Rights Reserved. Terms under
which this service is provided to you.
Please read our Privacy Policy. Contact us.
Bend Weekly News & Event Guide Online
   Save the Net
External sites open in new window,
not endorsed by BendWeekly.com
Subscribe in NewsGator Online
Add to Google Add to MSN Add to My AOL
What are RSS headlines?