On December 21, 1999, Acting Commissioner Gary Mielock of Michigan's Financial Institutions Bureau (FIB) issued an emergency order suspending the mortgage broker/lender license of OMNI MORTGAGE SERVICES, INC., 15009 West Warren Avenue, Dearborn, Michigan. The order was served on the company December 22nd and is effective immediately.

The company's president, Ahmad Chebbani, was also issued a notice of opportunity for an administrative hearing, as required by law. OMNI MORTGAGE SERVICES, INC. may not legally conduct mortgage brokering or lending activities pending a hearing.

"Suspension of this license was necessary in order to protect the public interest," said Acting Commissioner Mielock. Mielock explained that Omni Mortgage failed to adhere to a consent order signed in May of this year, and that there appear to be continued violations of the Mortgage Brokers, Lenders, and Servicers Licensing Act.

According to Mielock, "the facts presented by FIB's examination staff, if true, demonstrate Mr. Chebbani's lack of fitness to operate as a mortgage broker and lender."

The Financial Institutions Bureau is the primary regulator of Michigan's state-chartered banks, savings banks, credit unions, and over 5000 other licensed lenders. The bureau is 100% fee-funded, requiring no public tax dollars for its supervisory, regulatory, licensing, and enforcement activities. The bureau is an agency within the Michigan Department of Consumer & Industry Services.