AZ Mortgage Company Closes

Eagle First Mortgage of Mesa, Ariz., has closed its doors, according to a notice published on the company's website.Meanwhile, according to combined news reports, the Arizona Department of Financial Institutions has suspended the mortgage firm's licenses, citing more than 100 illegal money transactions, and problems with its loan activities and hiring practices. EFM operated about 75 branches. The lender has until March 14 to finish any outstanding loans and close its doors. Neither the president of the firm nor a representative of the Financial Institutions Department could be reached for comment at deadline time.