AUGUSTA – State regulators have revoked a Bridgton-based mortgage firm’s loan broker’s license.

The company, Rockland Financial, LLC, arranged $4 million in mortgages in 2002 and $14 million in 2003, according to state records.

In revoking Rockland’s license to do business in Maine, the state cited a lack of financial responsibility on the company’s part.

Regulators also cited a material misrepresentation made to them and the failure of Rockland’s president to respond to regulatory communications, including a subpoena to appear at the license revocation hearing.

Will Lund, the director of Maine’s office of Consumer Credit Regulation, summarized the firm’s dealings this way:

“Rockland Financial LLC and its president, Jordan Fox, do not meet the requirements of Maine’s Credit Services Organizations law, which mandates that companies be operated in a manner that demonstrates financial responsibility and appropriate character and fitness.”

Lund made the observation in an order issued Wednesday. The revocation hearing, which Fox didn’t attend, was held June 11.

The order prohibits Rockland from submitting a new application for registration with the state for 90 days. Fox has 30 days to appeal the order.

On Wednesday, a voice message on his telephone answering machine greeted callers to Rockland, calling it “Maine’s independent mortgage leader.”

One of his voice mail boxes was full and not accepting messages; he didn’t immediately return a message left in a second box seeking comment.

According to Lund’s order, Rockland Financial:

• Failed to pay for two appraisals it ordered in 2003 and when contacted about the debt by John Vogt of JKV Appraisal Services in Winthrop, Rockland sent a $650 payment on a closed account. The check bounced. As of the June 11 hearing, Vogt was still owed the money.

• Failed to correct consumer disclosure form deficiencies.

• Failed to pay a state invoice following a routine compliance exam in 2003 until Fox was threatened with a disciplinary hearing.

• Submitted its 2004 license application a month after deadline.

• Is listed as “not in good standing” by the Secretary of State’s corporation division.

Lund said Fox failed to attend the June 11 license revocation hearing despite being served a subpoena in hand by a sheriff’s deputy ordering him to do so.

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