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Dan Haar: stonewalling and foot-dragging by CT banking regulators

Dan Haar: stonewalling and foot-dragging by CT banking regulators

Dan Haar: Foot-dragging and stonewalling by CT banking.

A really odd exchange occurred on Oct. 23 in a hot, crowded hearing space in Hartford, in which the fate of first Alliance Lending LLC, a once-large Connecticut home loan loan provider, hung in the total amount.

Stacey Serrano, an attorney for their state Department of Banking, had presented document after document, email after email, to her witness, Dan Landini, an examiner for the department that is same. Serrano joined each one of these as proof and asked Landini to read through most of them aloud with minute details, verifying they were genuine.

About this they were up to exhibit No. 391 day. Serrano and Landini would repeat this for several days, all into the department’s instance against 1st Alliance, which will be charged with using mortgage that is unlicensed originators to accomplish work that needs a permit.

Landini was — whilst still being is, even today — the very first substantive witness in this administrative hearing away from a lot more than 25 the division and first Alliance may phone to testify in the department’s workplaces. Therefore it’s shaping around be a litigation that is endless.

Landini is certainly not yet finished therefore the first Alliance attorneys have never yet cross-examined him, even with their 4 1/2 times from the stand.

“To the degree the witness is likely to be reading from the document that is currently in proof, we object on due procedure grounds,” said Craig Raabe, an attorney for first Alliance, a transcript for the hearing shows. “We think it is a waste of the time.”

The hearing officer looked to Serrano. “Is here in whatever way that people can possibly speed things up?”

No, Serrano proposed. The department alleged that first Alliance utilized at minimum 40 unlicensed originators for Connecticut loans. Continue Reading →

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