Roberts v. State

OPINION

KLEINSCHMIDT, Judge.

In this case, we hold that the Arizona Superintendent of Banks has the authority to order a person to repay loan fees earned on transactions which were unauthorized because the person was not a licensed mortgage broker. The case arose as follows.

In 1989, the Superintendent ordered an examination of the affairs of Old Phoenix National Mortgage Company, Inc., to determine whether it was in compliance with the statutes regulating mortgage brokers. The examiners concluded that Morton L. Roberts, who claimed that he was an employee of Old Phoenix, was acting as a…