DOB: News Bulletin 2382 - October 16, 2009

The Department of Banking News Bulletin 

Bulletin # 2382
Week Ending October 16, 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.


 
CONSUMER CREDIT DIVISION ACTIVITY
Temporary Order to Cease and Desist, Order of Summary Suspension,
Notice of Intent to Revoke Mortgage Lender License,
Notice of Intent to Issue Order to Cease and Desist
 
On September 28, 2009, the Commissioner issued a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke Mortgage Lender License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) In the Matter of:  Access Mortgage Corporation d/b/a Keystone Bankers Mortgage Company (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for One Church Street, New Haven, 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 lender license in Connecticut.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.  A copy of the Notice can be obtained from the Department’s website.
 
Temporary Orders to Cease and Desist, Orders of Summary Suspension,
Notices of Intent to Revoke Mortgage Broker Licenses,
Notices of Intent to Issue Orders to Cease and Desist
 
On September 28, 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 (“Notice”) In the Matter of:  America’s Lending Solutions, Ltd. d/b/a Connecticut Lending Solutions, LLC (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 5700 Lombardo Center Drive, Suite 101, Seven Hills, Ohio, 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 Notice.  A copy of the Notice can be obtained from the Department’s website.
 
On September 28, 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 (“Notice”) In the Matter of:  Equity Financial Funding, LLC (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 175 Old Farms West, Middletown, 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 Notice.  A copy of the Notice can be obtained from the Department’s website.
 
On September 28, 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 (“Notice”) In the Matter of:  The Mortgage House, LLC (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 66 Huntington Street, 2nd Floor, Shelton, 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 Notice.  A copy of the Notice can be obtained from the Department’s website.
 
On September 28, 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 (“Notice”) In the Matter of:  Set 2 Go Loans, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 2082 SE Bristol Street, Suite 218, Newport Beach, California, 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 Notice.  A copy of the Notice can be obtained from the Department’s website.
 
Temporary Order to Cease and Desist, Order of Summary Suspension,
Notice of Intent to Revoke Mortgage Correspondent Lender License,
Notice of Intent to Issue Order to Cease and Desist
 
On September 28, 2009, the Commissioner issued a Temporary Order to Cease and Desist, Order of Summary Suspension, Notice of Intent to Revoke Mortgage Correspondent Lender License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) In the Matter of:  Smart Funding Corp. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 1809 E. Dyer Road, Suite 301, Santa Ana, California, 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 lender license in Connecticut.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.  A copy of the Notice can be obtained from the Department’s website.
 
Settlement Agreement
 
On September 29, 2009, the Commissioner entered into a Settlement Agreement with Consumer Credit, LLC (“Consumer Credit”).  The Settlement Agreement was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that Consumer Credit is engaged in the business of a sales finance company without having obtained the requisite license, in violation of Section 36a-536 of the Connecticut General Statutes.  As part of the Settlement Agreement, Consumer Credit was ordered to pay a civil penalty in the amount of $4,000.  A copy of the Settlement Agreement can be obtained from the Department’s website.
 
Order Revoking and Refusing to Renew Mortgage Correspondent Lender
License and Order to Cease and Desist
 
On September 29, 2009, the Commissioner issued an Order Revoking and Refusing to Renew Mortgage Correspondent Lender License and Order to Cease and Desist (“Order”) in the Matter of:  Blackstone Home Mortgage, Inc. (“Respondent”).  The Order revokes and refuses to renew Respondent’s license to engage in the business of a mortgage correspondent lender in Connecticut from 28C Riedell Road, Douglas, Massachusetts, 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.
 
Notice of Automatic Suspension, Temporary Order to Cease and Desist,
Notice of Intent to Revoke Consumer Collection Agency License,
Notice of Intent to Issue Order to Cease and Desist
 
On September 28, 2009, the Commissioner issued a Notice of Automatic Suspension, Temporary Order to Cease and Desist, Notice of Intent to Revoke Consumer Collection Agency License, Notice of Intent to Issue Order to Cease and Desist and Notice of Right to Hearing (“Notice”) in the Matter of:  National Financial Systems, Inc. (“Respondent”).  The Notice alleged that Respondent failed to maintain a surety bond that ran concurrent with its license for 1400 Northpoint Parkway, Suite 20, West Palm Beach, Florida, in violation of Section 36a-802(a) of the Connecticut General Statutes.  The Commissioner also found that public welfare required the issuance of Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.  A copy of the Notice can be obtained from the Department’s website.
 

 
       Dated:  Tuesday, October 20, 2009
 
       Howard F. Pitkin
       Banking Commissioner