DOB: Bulletin 2497 - Dec. 30, 2011

The Department of Banking News Bulletin 

Bulletin # 2497
Week Ending December 30, 2011

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.


2012 STATE HOLIDAYS
 
Please contact your financial institution directly to determine whether or not it will open for business on a state holiday.  Legal holidays to be observed by the State of Connecticut in the year 2012 are:
 
Legal Holiday  
 Day Observed 
 Legal Holiday 
 Day Observed
New Year’s Day 
Mon., Jan. 2, 2012
Independence Day  
Wed., July 4, 2012
Martin Luther King's Day 
Mon., Jan. 16, 2012
Labor Day
Mon., Sept. 3, 2012
Lincoln's Birthday  Mon., Feb. 13, 2012 Columbus Day  Mon., Oct. 8, 2012
Washington's Birthday  Mon., Feb. 20, 2012 Veterans' Day  Mon., Nov. 12, 2012
Good Friday * Fri., April 6, 2012 Thanksgiving Day **  Thurs., Nov. 22, 2012
Memorial Day  Mon., May 28, 2012 Christmas Day Tue., Dec. 25, 2012
 
The first holiday for 2013, New Year's Day, will fall on Tuesday, January 1, 2013.
 

CREDIT UNION ACTIVITY
Branch Activity
 
Date Credit Union Location Activity
01/25/12
Connex Credit Union
North Haven
555 Long Wharf Drive
New Haven, CT  06511
closing
date
 
CONSUMER CREDIT DIVISION ACTIVITY
Order Revoking and Refusing to Renew Mortgage Correspondent
Lender License and Order to Cease and Desist
 
On December 12, 2011, 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:  All American Home Mortgage Corp. d/b/a All American Mortgage Bankers Corp. (NMLS # 13499) (“Respondent”), Brooklyn, New York.  The Order was based on Respondent’s failure to maintain a surety bond, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 11-216.  The Order revokes and refuses to renew Respondent’s license to engage in the business of a mortgage correspondent lender in Connecticut from 1001 60th Street, Brooklyn, New York, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended.
 
Order Revoking Mortgage Lender License and Order to Cease and Desist
 
On December 12, 2011, the Commissioner issued an Order Revoking Mortgage Lender License and Order to Cease and Desist (“Order”) in the Matter of:  East Coast Mortgage Corp. d/b/a Green Brook Mortgage (NMLS # 2785) (“Respondent”), Springfield, New Jersey.  The Order was based on Respondent’s failure to maintain a surety bond, in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 11-216.  The Order revokes Respondent’s license to engage in the business of a mortgage lender in Connecticut from 100 Morris Avenue, Suite 300, Springfield, New Jersey, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended.
 
Order Revoking Mortgage Correspondent Lender License and Order to Cease and Desist
 
On December 12, 2011, the Commissioner issued an Order Revoking Mortgage Correspondent Lender License and Order to Cease and Desist (“Order”) in the Matter of:  United Capital Lenders LLC (NMLS # 77283) (“Respondent”), Southampton, Pennsylvania.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 11 216.  The Order revokes Respondent’s license to engage in the business of a mortgage correspondent lender in Connecticut from 1310 Industrial Boulevard, Suite 202, Southampton, Pennsylvania, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended.
 
Consent Orders
 
On December 12, 2011, the Commissioner entered into a Consent Order with Main Street Mortgage LLC (NMLS # 26450) (“Main Street Mortgage”), Stratford, Connecticut.  The Consent Order was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Main Street Mortgage employed or retained, on September 1, 2010, one (1) individual as a mortgage loan originator who was not licensed, in violation of Sections 36a-486(b) of the then applicable Connecticut General Statutes.  As part of the Consent Order, Main Street Mortgage was ordered to pay $1,000 as a civil penalty.
 
On December 12, 2011, the Commissioner entered into a Consent Order with Mortgage Affiliates of America, Inc. (“Mortgage Affiliates of America”), Danbury, Connecticut.  The Consent Order was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Mortgage Affiliates of America employed or retained, during the period of March 6 through April 10, 2009, one (1) individual as a mortgage loan originator who was not licensed, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes.  As part of the Consent Order, Mortgage Affiliates of America was ordered to pay $1,000 as a civil penalty.
 
On December 12, 2011, the Commissioner entered into a Consent Order with Real Estate Mortgage Network, Inc. d/b/a Menlo Park Funding d/b/a FinanceMyHome.com ( NMLS # 6521) (“Real Estate Mortgage Network”), River Edge, New Jersey.  The Consent Order was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Real Estate Mortgage Network employed or retained, during the period of July 20, 2009 through April 21, 2010, three (3) individuals as mortgage loan originators who were not licensed, in violation of Section 36a-486(b) of the then applicable Connecticut General Statutes.  As part of the Consent Order, Real Estate Mortgage Network was ordered to pay $3,000 as a civil penalty.
 
On December 12, 2011, the Commissioner entered into a Consent Order with Village Mortgage Company (NMLS # 6331) (“Village Mortgage”), Torrington, Connecticut.  The Consent Order was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Village Mortgage employed or retained, during the period of January 5, 2009 through July 26, 2010, ten (10) individuals as mortgage loan originators who were licensed but not properly sponsored by Village Mortgage, in violation of Section 36a-486(b) of the Connecticut General Statutes.  As part of the Consent Order, Village Mortgage was ordered to pay $15,000 as a civil penalty.
 
Temporary Order to Cease and Desist, Notice of Intent to Issue Order
to Cease and Desist, and Notice of Intent to Impose Civil Penalty
 
On December 13, 2011 the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  1st American Debt Solutions Limited Liability Company a/k/a Legal Settlement Solutions, LLC (“1st American”); The Purewal Law Group A Professional Corporation d/b/a Legal Network of America (LNOA) (“LNOA”) and Settlement Corporation of America (“SCOA”) (collectively, “Respondents”).  1st American is located in Mount Laurel, New Jersey, and LNOA and SCOA are located in Hayward, California.  The Notice alleges that 1st American engaged in or offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes  The Notice also alleges that LNOA and SCOA engaged in debt negotiation in this state without obtaining the required license, in violation of Section 36a 671(b) of the Connecticut General Statutes.  The Commissioner also found that public welfare requires the issuance of a Temporary Order to Cease and Desist against 1st American and LNOA and orders them to repay all fees received from an identified Connecticut resident.  Respondents were afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.
 
Notice of Intent to Suspend Mortgage Broker License
 
On December 13, 2011, the Commissioner issued a Notice of Intent to Suspend Mortgage Broker License and Notice of Right to Hearing (“Notice”) in the Matter of:  Settlers Mortgage Company, LLC (NMLS # 6086) (“Respondent”), Westport, Connecticut.  The Notice alleges that Respondent’s failure to pay the cost of an examination constitutes a violation of Section 36a-65(c)(6) of the Connecticut General Statutes, as amended by Public Act 11-216.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.
 

       Dated:  Wednesday, January 4, 2012
 
 
       Howard F. Pitkin
       Banking Commissioner