The Department of Banking News Bulletin
Bulletin # 2717
Week Ending March 18, 2016
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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten days from the date of this bulletin.
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, address how the establishment of the branch will be consistent with safe and sound banking practices and promote the public convenience and advantage. 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.
FROM: 215 Church Street
New Haven, CT 06510
TO: 153 College Street
New Haven, CT 06510
Applied to Relocate -
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 Revoke
Mortgage Loan Originator Licenses, Notice of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty
On March 7, 2016, 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 Revoke Mortgage Loan Originator Licenses, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively, “Order and Notice”), in the Matter of: Falcon Funding LLC (NMLS # 842865) (“Falcon Funding”), Hamden, Connecticut, Deborah Ann Moxam (NMLS # 74194), and Ian M. Williams (NMLS # 93397) (“Williams”) (collectively, “Respondents”). The Order and Notice was a result of an unannounced examination by the Consumer Credit Division. The Commissioner alleges, among other things, that Respondents withheld books, records and other information, in violation of Section 36a-498f(f) of the Connecticut General Statutes; altered loan documents, which constitute violations of Sections 36a-498e(1), 36a-498e(2), 36a-53b(1) and 36a-53b(3) of the Connecticut General Statutes; and failed to cooperate with the Commissioner, in violation of Section 36a-17(d) of the Connecticut General Statutes. Such violations constitute grounds to revoke Falcon Funding’s mortgage broker license and Moxam and Williams’ mortgage loan originator licenses, and form the basis to issue a cease and desist order and order imposing civil penalty against each Respondent. The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist and that public safety and welfare imperatively required the issuance of an Order of Summary Suspension. Respondents were afforded an opportunity to request a hearing with regard to the allegations in the Order and Notice.
On March 10, 2016 the Commissioner entered into a Consent Order with Americay Mortgage Corporation (NMLS #1155) (“Americay Mortgage”), Vernon, Connecticut. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, on September 4, 2015, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing against Americay Mortgage. The Commissioner alleged that Americay Mortgage failed to timely file certain quarterly information required by mortgage call reports and failed to file certain other quarterly information required by mortgage call reports, both in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes and in violation of an order of the Commissioner. As part of the Consent Order, Americay Mortgage paid $3,000 as a civil penalty.
Dated: Tuesday, March 22, 2016
Jorge L. Perez