Case Study: Moria Development

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Moria Development, Inc. was formed in the State of Arizona on March 29, 1982 and became licensed as a money broker in the State of North Dakota on June 26, 2014. The Licensee is wholly owned by Arnold Morris (95%) and various others make up the remaining small percentage of ownership. The Licensee is headquartered in Chandler, Arizona.

The Licensee primarily engages in the business of originating, selling, and servicing residential mortgage loans. Moria Development, Inc. is approved as a Title II, non-supervised direct endorsement mortgagee with the United States Department of Housing and Urban Development (HUD). In addition, the Licensee is an approved issuer with the Government National Mortgage Association (GNMA), as well as an approved

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