Centennial Mortgage and Funding, Inc./Award Mortgage - Agency, Conforming, Subprime


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Centennial Mortgage and Funding, Inc. of Bloomington, MN was shut down by the State on Friday. A tipster sent us a link to this article in the Minneapolis Star Tribune:

"One of the state's larger privately held mortgage lenders in the Twin Cities, Centennial Mortgage and Funding Inc. of Bloomington, was shut down Friday by the Minnesota Department of Commerce for what it called "financial irresponsibility or incompetence."

The department told the company, which has been licensed since 1999, to stop taking new applications."

A copy of the Cease and Desist Order can be viewed here.

One local blogger added this in the commentary for the article:

"The word is a south-metro headquarted Mortgage lender Centennial Mortgage and Funding, a local correspondent/broker with 9 Minnesota branches, and two in Wisconsin, has had their warehouse lines pulled, and cannot fund loans. Allegedly the company CFO was using one warehouse line to fund another ...

40 some odd loans scheduled to close today cannot fund, leaving the borrowers, some of whom were set to close on purchase transactions, in the lurch."

The web sites for Centennial and Award Mortgage are now down, so we looked at archived copies using the Wayback Machine. Centennial was the retail arm of their operations, with as many as 15 offices in MN, WI, MI and IA. Award Mortgage, LLC was their wholesale/correspondent operation, with an office in Plymouth, MN. We tried calling a number of them - most were answered by auto-attendant and directed us to a general voice mailbox. One had a simple recording "Our office is currently closed."

According to info on, they originated 2021 loans for a volume of over $283 million in 2006.

Please contact us if you can provide additional details, number of employees, etc. for this company.

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Important: This company is on our list of lending operations that have "imploded". However, please note that "imploded" is a somewhat subjective and does not necessarily mean operations are ceased permanently: it can mean bankruptcy filing, temporary but open-ended halting of major operations, or "firesale" acquisition. All information here is provisional, and may contain inaccuracies (especially newer information). If you are planning on doing business with this company or any other one listed on this site, you should inquire with them directly on whether they can still meet your needs. Many are still operating in some capacity.