Ohio D of C Issues notice of intent to revoke Broker?s License

August 23, 2002 - Ohio D of C Press Release

The Ohio Department of Commerce’s Division of Financial Institutions issued an order today placing a mortgage loan officer on notice that the Division intends to revoke his mortgage broker loan officer license.

The Division issued a notice order against loan officer William L. Siggers of Challenge Financial Investors Corp. Challenge has several branches licensed in the greater Cleveland area. Siggers was reported to have been indicted in U.S. District Court in Cleveland as part of a mortgage fraud investigation.

In addition, two applicants for the mortgage broker loan officer license were issued notice orders informing them that the Division plans to deny their license application.

The applicants, who were also reported to have been indicted in the mortgage fraud investigation, are:

  • William H. Jefferson of Ohio Mortgage Company in Brooklyn, Ohio
  • Kevin W. White of Challenge Financial Investors Corp.

The three individuals receiving today’s notice orders will have 30 days in which to request an administrative hearing.

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