STATE OF FLORIDA 0 OFFICE OF FINANCIAL REGULATION op IN RE: Administrative Proceeding Docket Number: PRIME FINANCIAL PARTNERS, INC., PAM 68756 GISLASON, and JOHN GISLASON, | | ~ 2444 Respondents ADMINISTRATIVE COMPLAINT The State of Florida, Office of Financial Regulation, (“Office”) files this Administrative Complaint against PRIME FINANCIAL PARTNERS, INC., PAM GISLASON, and JOHN GISLASON (“Respondents”), alleging: 1. Pursuant to section 494.0011, Florida Statutes, the Office is charged with administering and enforcing the provisions of Chapter 494, Florida Statutes. 2. At all times material, Respondent Pamela Gislason is or has been a loan originator pursuant to Chapter 494, Florida Statutes, having been issued license number LO11676. 3. At no time material, were Respondents Prime Financial Partners Inc. or John Gislason licensed as a mortgage broker, mortgage lender or loan originator pursuant to Chapter 494, Florida Statutes. 4. At all times material, Respondents’ business address has been 1990 Main Street, Suite 750, Sarasota, FL 34236, and Prime Financial Partners Inc.’s president has been Pamela Gislason and its vice-president has been John Gislason. Page 1 of 4 5. Section 494.00255(1)(p), Florida Statutes, states that it is a violation to act as a loan originator, mortgage broker, or mortgage lender without a current license issued under part Il or part III of Chapter 494, Florida Statutes. 6. Section 494.001(22), Florida Statutes, defines ‘mortgage broker’ as a person conducting loan originator activities through one or more licensed loan originators employed by the mortgage broker. 7. From August 20, 2015 through September 30, 2015, Respondent Prime Financial Partners, Inc. acted as a mortgage broker by conducting loan originator activities through Pam Gislason, a licensed loan originator employed by Prime Financial Partners, Inc., in violation of section 494.00255(1)(p), Florida Statutes. 8. Pursuant to section 494.00255(2)(f), Florida Statutes, an unlicensed person who acts as a mortgage broker is subject to an administrative fine of up to $1,000 per day, but not to exceed $25,000 cumulatively. 9. Pursuant to section 494.00255(7), Florida Statutes, an individual who is associated with a mortgage broker is subject to the disciplinary actions specified in subsection 494.00255(2), Florida Statutes, for a violation of section 494.00255(1)(p), Florida Statutes, in which such person was involved. WHEREFORE, Respondents PRIME FINANCIAL PARTNERS, INC., PAM GISLASON, and JOHN GISLASON are hereby notified that the Office intends to enter an Order imposing an administrative fine of $25,000. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Page 2 of 4 NOTICE OF RIGHTS The licensee is entitled to be represented by counsel or other qualified representative. The licensee also has the right to request a hearing pursuant to sections 120.569 and 120.57, Florida Statutes. Such request must comply with rules 28-106.2015 and 28-106.104, Florida Administrative Code. An Election of Proceeding form is attached for your convenience. Any such request must be filed as follows: By Mail or Facsimile OR By Hand Delivery Agency Clerk Agency Clerk Office of Financial Regulation Office of Financial Regulation P.O. Box 8050 General Counsel’s Office Tallahassee, Florida 32314-8050 The Fletcher Building, Suite 118 Phone: (850) 410-9889 101 East Gaines Street Fax: (850) 410-9663 Tallahassee, Florida 32399-0379 Phone: (850) 410-9889 TO PRESERVE THE RIGHT TO A HEARING, A WRITTEN RESPONSE MUST BE FILED WITH THE OFFICE OF FINANCIAL REGULATION WITHIN TWENTY-ONE (21) DAYS AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. SAID RESPONSE MUST BE RECEIVED BY THE OFFICE NO LATER THAN 5:00 P.M. ON THE TWENTY-FIRST DAY AFTER THE RECEIPT OF THE ADMINISTRATIVE COMPLAINT. A FAILURE TO TIMELY RESPOND IN WRITING WILL CONSTITUTE A WAIVER OF THE LICENSEE’S RIGHT TO REQUEST A HEARING AND A FINAL ORDER MAY BE ENTERED WITHOUT FURTHER NOTICE. You may not make an oral request for an administrative hearing. With regard to a written request, if you fail to follow the outlined procedure, your request may be dismissed. Any request for an administrative proceeding received prior to the date of this notice is deemed abandoned, and to be considered, must be timely renewed in compliance with the procedure set forth above. Mediation of this matter pursuant to section 120.573, Florida Statutes, is not available. Page 3 of 4 DATED and SIGNED this day of , 20 DREW J. BREAKSPEAR Commissioner By: Jennifer Leigh Blakeman Assistant General Counsel Office of Financial Regulation Fla. Bar No. 0506877 400 W. Robinson St., S-225 Orlando, Florida 32801-1799 (407) 245-0601; fax (407) 245-0806 jennifer.lozano@flofr.com Page 4 of 4

Docket for Case No: 17-002443