DOB: Treinor Marketing Corp. d/b/a Treinor Mortgage Co., Settlement Agreement

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IN THE MATTER OF:

TREINOR MARKETING CORP.
d/b/a TREINOR MORTGAGE CO.

    ("Treinor")

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SETTLEMENT AGREEMENT        

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”;
 
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Treinor to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;
 
WHEREAS, on December 5, 2008, the Commissioner, acting pursuant to Section 4-182(c) of the Connecticut General Statutes, Section 36a-494(a)(1)(C) of the 2008 Supplement to the General Statutes, as amended by Public Acts 07-91, 07-156 and 08-176, and Sections 36a-51(a) and 36a-52(a) of the 2008 Supplement to the General Statutes, issued an 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 (collectively “Notice”) against Treinor, which Notice is incorporated by reference herein;
 
WHEREAS, the Notice alleged that Treinor, in violation of Section 36a-492(a) of the 2008 Supplement to the General Statutes, as amended by Public Acts 07-156 and 08-176, failed to maintain a surety bond that runs concurrently with the period of the license granted to Treinor to act as a mortgage broker in Connecticut from 10549 N. Florida Avenue, Suite F, Tampa, Florida;
 
WHEREAS, on December 15, 2008, Treinor received the Notice, and no request for a hearing was received by the Commissioner;
 
WHEREAS, on January 3, 2009 and February 3, 2009, Treinor specifically assured the Commissioner that Treinor has not done any business in Connecticut since June 30, 2008;
 
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by agreed settlement, unless precluded by law;
 
WHEREAS, Treinor agrees to voluntarily enter into this Settlement Agreement without admitting or denying any allegations contained in the Notice set forth herein, and solely for the purpose of obviating the need for formal administrative proceedings concerning the allegation described above;
 
WHEREAS, Treinor, through its execution of this Settlement Agreement, voluntarily agrees to waive any rights to a hearing upon the allegations contained in the Notice, and waives the right to seek judicial review or otherwise challenge or contest the validity of this Settlement Agreement;
 
AND WHEREAS, upon the entry of this Settlement Agreement, this matter will be resolved and the Commissioner will not take any future enforcement action against Treinor based upon the allegations contained in the Notice.
 
NOW THEREFORE, the Commissioner and Treinor enter into this Settlement Agreement as follows:

1. Prior to the date this Settlement Agreement is executed by the Commissioner, Treinor will surrender its mortgage broker licenses Nos. 11049 and 11050, and cease engaging in the business of a mortgage broker in Connecticut from 10549 N. Florida Avenue, Suite F, Tampa, Florida 33612;
2. Nothing in this Settlement Agreement shall adversely affect the ability of Treinor to apply for or obtain a license or renewal license under Part I of Chapter 668 of the Connecticut General Statutes in the future; and
3. Notwithstanding anything to the contrary in this Settlement Agreement, execution of this Settlement Agreement is without prejudice to the right of the Commissioner to take enforcement action against Treinor to enforce this Settlement Agreement if the Commissioner determines that Treinor is not fully complying with any term or condition stated herein or if any representation made by Treinor and reflected herein is subsequently discovered to be untrue.  For purposes of this paragraph, a violation of this Settlement Agreement shall be deemed to be a violation of an order of the Commissioner.

IN WITNESS WHEREOF, the parties hereto have caused this Settlement Agreement to be executed by each of them or their duly authorized representatives on the dates hereinafter subscribed.


Dated at Hartford, Connecticut
this 4th day of March 2009.               ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner



I, David K. Till, state on behalf of Treinor Marketing Corp. d/b/a Treinor Mortgage Co., that I have read the foregoing Settlement Agreement; that I know and fully understand its contents; that I am authorized to execute this Settlement Agreement on behalf of Treinor Marketing Corp. d/b/a Treinor Mortgage Co; and that Treinor Marketing Corp. d/b/a Treinor Mortgage Co. agrees freely and without threat or coercion of any kind to comply with the terms and conditions stated herein.                                            

                                            By:  ________/s/_________
                                                   Name:  David K. Till
                                                   Title:  President
                                                   Treinor Marketing Corp. 
                                                   d/b/a Treinor Mortgage Co.


State of:  Florida

County of:  Hillsborough


On this the 26th day of Feb. 2009, before me, ___________________________, the undersigned officer, personally appeared David K. Till, who acknowledged himself to be the President of Treinor Marketing Corp. d/b/a Treinor Mortgage Co., a corporation, and that he, as such President, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself as President.

In witness whereof I hereunto set my hand.


                                         ________/s/_________
                                         Notary Public
                                         Date Commission Expires:  Dec. 13, 2010


Administrative Orders and Settlements