The State of New Jersey
NJ Department of Banking and Insurance
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Consumer Alert: Dana Capital Group, Inc.
Update - May 2007
It has come to the attention of the Department that Dana Capital Group, Inc. closed its doors and ceased operations on or about April 30, 2007.

Consumers are advised not to apply for or close any loan with any entity purporting to be associated or acting on behalf of Dana Capital Group, Inc. with respect to the loan.

On April 18, 2007, the New Jersey Department of Banking and Insurance issued legal documents ordering Dana Capital 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.

who are considering any mortgage loan transaction involving Dana Capital Group, Inc., 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 Dana Capital Group, Inc.

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