MELVILLE, N.Y. - The New York State Banking Department last week suspended the license of Island Mortgage Network Inc., a subsidiary of AppOnline.com, and will hold a hearing on Tuesday to consider revoking it completely.

In its June 30 notification, the department charged that Island Mortgage failed to meet its financial responsibilities and refused to allow state bank examiners access to its books and records.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.