On July 31, 2007, the New Jersey Department of Banking and Insurance issued legal documents ordering Apex Financial Group, Inc. to stop doing business in the state through unlicensed branch offices and unregistered mortgage solicitors. It ordered refunds of fees illegally charged to consumers and also took the initial step toward revoking the company's mortgage lender licenses based on such violations.

Consumers who are considering any mortgage loan transaction involving Apex Financial should be careful to ask if the branch office involved is licensed with the Department and to ask if anyone acting as a mortgage solicitor, loan officer, or loan originator for this company is registered as such with the Department. (Use the Department's Licensee Search tool)

Consumers are advised to demand an explanation for all fees charged in connection with a mortgage loan involving Apex Financial.

• Order to Cease and Desist, Show Cause: In the Matter of Apex Financial Group, Inc. (PDF)
• Press Release: DOBI cites Apex Financial for multiple violations