NEW YORK — The state Banking Department has suspended the license of Morning Star Real Estate and Mortgage Financing Corp. of Massapequa, N.Y., charging it with failure to comply with regulations and agreements made with the department.

“Morning Star appears to have grossly misrepresented its true financial condition,” a Banking Department spokeswoman said. “It has failed to meet the financial responsibility and other requirements that all mortgage bankers must follow to be licensed and to operate in New York State.”

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