DOB: News Bulletin 2375 - August 28, 2009

The Department of Banking News Bulletin 

Bulletin # 2375
Week Ending August 28, 2009

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.


 

BRANCH ACTIVITY
State Bank Activity
 
Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided.  Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days.  Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

 

Date Bank Location Activity
8/27/09
The Milford Bank
Milford
295 Boston Post Road
Milford, CT  06460
approved
8/27/09
Fairfield County Bank
Ridgefield
20 Compo Road South
Westport, CT  06880
approved


CONSUMER CREDIT DIVISION ACTIVITY
Temporary Order to Cease and Desist, Order of Summary Suspension,
Notice of Intent to Revoke Mortgage Broker License,
Notice of Intent to Issue Order to Cease and Desist
 
On August 10, 2009, the Commissioner issued a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Order”) in the Matter of:  Peak Financial Services, Inc. (“Respondent”).  The Order alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 21A Pershing Street, Hamden, Connecticut, in violation of Section 36a 492(a) of the Connecticut General Statutes, as amended by Public Act 09-209.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist and that public safety and welfare required the issuance of an Order of Summary Suspension of Respondent’s mortgage broker license in Connecticut.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order.  A copy of the Order can be obtained from the Department’s website.
 
On August 18, 2009, the Commissioner issued a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Order”) in the Matter of:  Faith Home Loans, Inc. (“Respondent”).  The Order alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 2950 Halcyon Lane, Suite 301, Jacksonville, Florida, in violation of Section 36a-492(a) of the Connecticut General Statutes, as amended by Public Act 09-209.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist and that public safety and welfare required the issuance of an Order of Summary Suspension of Respondent’s mortgage broker license in Connecticut.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order.  A copy of the Order can be obtained from the Department’s website.
 
 
Temporary Order to Cease and Desist, Order of Summary Suspension,
Notice of Intent to Revoke and Refuse to Renew Mortgage Correspondent
Lender License, Notice of Intent to Issue Order to Cease and Desist
 
On August 18, 2009, the Commissioner issued a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke and Refuse to Renew Mortgage Correspondent Lender License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Order”) in the Matter of:  Blackstone Home Mortgage, Inc. (“Respondent”).  The Order alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 28C Riedell Road, Douglas, Massachusetts, in violation of Section 36a-492(a) of the Connecticut General Statutes, as amended by Public Act 09-209.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist and that public safety and welfare required the issuance of an Order of Summary Suspension of Respondent’s mortgage correspondent lender license in Connecticut.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Order.  A copy of the Order can be obtained from the Department’s website.
 

Orders Revoking Consumer Collection Agency Licenses
and Orders to Cease and Desist
 
On August 19, 2009, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Walker Associates, Inc. (“Respondent”).  The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from Two Oliver Street, Boston, Massachusetts, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-802(a) of the Connecticut General Statutes.  A copy of the Order can be obtained from the Department’s website.
 
On August 20, 2009, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Admerex Inc. (“Respondent”).  The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from Level 14, The Peak Tower, 107 L.P. Leviste St. Salcedo Village, Makati City, Philippines, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-802(a) of the Connecticut General Statutes.  A copy of the Order can be obtained from the Department’s website.
 
On August 21, 2009, the Commissioner issued an Order Revoking Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Titan Management Services, LLC (“Respondent”).  The Order revokes Respondent’s license to act as a consumer collection agency in Connecticut from 3237 Satellite Boulevard, Building 300, Suite 210, Duluth, Georgia, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-802(a) of the Connecticut General Statutes.  A copy of the Order can be obtained from the Department’s website.
 

Order Revoking Mortgage Broker License and Order to Cease and Desist
 
On August 19, 2009, the Commissioner issued an Order Revoking Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Northernstar Mortgage, Inc. (“Respondent”).  The Order revokes Respondent’s license to act as a mortgage broker in Connecticut from 391 Norwich Westerly Road, Unit 3D, North Stonington, Connecticut, and was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492(a) of the Connecticut General Statutes.  A copy of the Order can be obtained from the Department’s website.
 
 
Amended and Restated Temporary Order to Cease and Desist,
Amended and Restated Notice of Intent to Revoke Mortgage
Lender Licenses, Amended and Restated Notice of Intent to Issue Order
to Cease and Desist and Amended and Restated Notice of Intent
to Impose Civil Penalty
 
On August 21, 2009, the Commissioner issued an Amended and Restated Temporary Order to Cease and Desist, Amended and Restated Notice of Intent to Revoke Mortgage Lender Licenses, Amended and Restated Notice of Intent to Issue Order to Cease and Desist, Amended and Restated Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Amended Order”) in the Matter of:  Taylor, Bean & Whitaker Mortgage Corp. (“Respondent”).  The Order issued against Respondent on August 10, 2009, was amended to allege that Respondent currently services an unknown number of Connecticut mortgage loans.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist with respect to Respondent’s mortgage loan servicing activities.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Amended Order.  A copy of the Amended Order can be obtained from the Department’s website.

 
Settlement Agreement
 
On August 21, 2009, the Commissioner entered into a Settlement Agreement with Layesh Tala d/b/a Route 66 Check Express (“Layesh Tala”) based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Layesh Tala engaged in the business of cashing checks and money orders without having obtained the requisite license, in violation of Section 36a-581(a) of the Connecticut General Statutes.  As part of the Settlement Agreement, Layesh Tala was ordered to pay a civil penalty in the amount of $3,000.  A copy of the Settlement Agreement can be obtained from the Department’s website.
 
       Dated:  Tuesday, September 1, 2009
 
       Howard F. Pitkin
       Banking Commissioner