DOB: Derek Clark, Denial of Originator Registration

                                      January 31, 2008


FIRST CLASS AND REGISTERED MAIL

Mr. Derek Clark
86 Russell Street
Springfield, MA 01104

Re: Denial of Originator Registration

Dear Mr. Clark:

On September 19, 2007, Ascella Mortgage, LLC (“Ascella”) filed a New Application for Registration of Loan Originators with the Consumer Credit Division (“Division”) of this department seeking to register you as a loan originator.  Ascella is currently a licensee under Section 36a-489 of Part I(A) of Chapter 668 of the Connecticut General Statutes, “Nondepository First Mortgage Lenders, Brokers and Originators”, and Section 36a-513 of Part I(B) of Chapter 668 of the Connecticut General Statutes, “Secondary Mortgage Lenders, Brokers and Originators”.  Pursuant to Section 36a-489(b) of the Connecticut General Statutes, I hereby deny and reject the registration for the reasons set forth below.

Section 36a-489(b) of the Connecticut General Statutes provides, in pertinent part, that:

Upon the filing of an application for registration, the commissioner shall register the originator named in the application unless the commissioner finds . . . that the financial responsibility, character, reputation, integrity and general fitness of such originator are not such as to warrant belief that granting such registration would be in the public interest and consistent with the purposes of sections 36a-485 to 36a-498a, inclusive.  If the commissioner denies registration, the commissioner shall notify such originator and the applicant filing the application of the denial and the reasons for such denial.  Any denial of an application by the commissioner shall, when applicable, be subject to the provisions of section 46a-80.

Section 46a-80 of the Connecticut General Statutes provides, in pertinent part, that:

(a)  Except as provided in subsection (b) of this section and subsection (b) of section 46a-81, and notwithstanding any other provisions of law to the contrary, a person shall not . . . be disqualified to practice, pursue or engage in any occupation, trade, vocation, profession or business for which a . . . registration is required to be issued by the state of Connecticut or any of its agencies solely because of a prior conviction of a crime.

(b)  A person may be denied . . . a . . . registration to pursue, practice or engage in an occupation, trade, vocation, profession or business by reason of the prior conviction of a crime if after considering (1) the nature of the crime and its relationship to the job for which the person has applied; (2) information pertaining to the degree of rehabilitation of the convicted person; and (3) the time elapsed since the conviction or release, the state, or any of its agencies determines that the applicant is not suitable for . . . the specific occupation, trade, vocation, profession or business for which the . . . registration is sought.

(c)  If a conviction of a crime is used as a basis for rejection of an applicant, such rejection shall be in writing and specifically state the evidence presented and reasons for rejection.  A copy of such rejection shall be sent by registered mail to the applicant.

Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have, through the Division, investigated your activities to determine whether your financial responsibility, character, reputation, integrity and general fitness are such as to warrant belief that granting you registration as an originator would be in the public interest and consistent with the purposes of Sections 36a-485 to 46a-498a, inclusive, of the Connecticut General Statutes.  As a result of such investigation, I have reason to believe that in March 2002, in Massachusetts Superior Court, Hampden County, you were convicted by plea of guilty of larceny over $250, which is a felony, and were sentenced to three years probation.  I also have reason to believe that in February 2005 you violated your probation and your probation was extended for three months.  I have considered the criteria contained in Section 46a-80(b) of the Connecticut General Statutes that must be considered prior to rejecting a registration based solely upon convictions, and I was not persuaded by your explanations.

Based on the facts mentioned above, I am unable to find that your financial responsibility, character, reputation, integrity and general fitness are such as to warrant belief that granting you registration as an originator will be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, of the Connecticut General Statutes.

                                       Very truly yours,



                                       Howard F. Pitkin
                                       Banking Commissioner

HFP/DK/ag

Registered Mail No. RB028033423US

cc: Ascella Mortgage, LLC



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