Securities Commission Gets Info From Business Journal

The Arkansas Securities Commission is apparently paying attention to the Northwest Arkansas Business Journal. Mike Spades, staff attorney for the commission, called recently to check on the startup date of a new Tontitown mortgage company that we recently profiled.

The commission didn’t yet have Valentin Guaranteed Home Mortgage Co. listed as a licensed mortgage provider in the state. After some investigation, Spades said he discovered the firm was actually operating under the umbrella of Guaranteed Home Mortgage of New York, which is licensed in Arkansas. Valentin, owned by Valentin Gutierrez, was supposed to inform the commission of its new office, Spades said.

A new law effective July 1 — a week after Valentin checked in with the commission ? would have made the omission a violation of state law. The firm finally filed its notice under the name Guaranteed Home Mortgage Co. (Adding the “Valentin” to the name would have meant it was a separate entity and in violation since Feb 5).