Las Vegas — The Nevada Division of Mortgage Lending (MLD) today announced that Cetus Mortgage, a hard money mortgage brokerage based in Reno, Nevada, has ceased operations. Principal Marcie Benvin, whose mortgage broker’s license expired on June 30 and was not renewed, has advised the Division that she has informed her clients the business is closed.

To ensure the safe and sound transfer of the brokerage’s loan portfolio, the Division, along with Ms. Benvin, has undertaken negotiations with another licensed mortgage broker and a licensed escrow agency to assume the servicing of Cetus’ loans and to continue to handle defaults and workouts.

“The Division has a responsibility to protect the investors in Cetus Mortgage as fully as our provisions allow,” said MLD Commissioner Joseph Waltuch. “We are pleased that Ms. Benvin is cooperating with us as we work to resolve this situation.”

For more information about the Division of Mortgage Lending, visit their website at http://mld.nv.gov.