Mortgage Broker's License Suspended
By Tim Lorenz, 949 874-2247
(TIM LORENZ - Elite Home Sales Team)
Paul Henry Reed a mortgage broker and owner of Seaview Financial closed his office in February but was had his license suspended by the California Department of Real Estate. He was a Corona del Mar mortgage broker accused of dumping his clients' financial information into public recycling bins has had his license suspended after declining to fight the allegations. Paul Henry Reed, according to state investigators closed his offices and then boxes containing 350 client files subsequently turned up at an elementary school recycling center. The files contained bank statements, credit reports, completed tax returns and other sensitive data, overflowed from the top of the green bins for several days before being retrieved by police. As a result Reed's mortgage broker's license was suspende...
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