DOB: Kevin Carney, Denial of Mortgage Loan Originator License

March 16, 2009
 
FIRST CLASS AND CERTIFIED MAIL
 
 
Mr. Kevin Carney
29 Rumford Park Avenue
Woburn, MA 01801
 
Re: Denial of Mortgage Loan Originator License
 
Dear Mr. Carney:
 
On August 28, 2008, you filed a Form MU4, “Uniform Individual Mortgage License/Registration & Consent Form”, with the Nationwide Mortgage Licensing System seeking to obtain a mortgage loan originator license in Connecticut.  Your sponsoring company is 1st New England Mortgage Corporation, which is currently licensed as a mortgage broker under Part I of Chapter 668 of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”.  Pursuant to Section 36a-489(b) of the Connecticut General Statutes, I hereby deny the license for the reason set forth below.
 
Section 36a-489(b) of the Connecticut General Statutes requires me to license a mortgage loan originator unless I find, among other things, that the character and integrity of such originator are not such as to warrant belief that licensure would be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, and Sections 36a-760a to 36a-760h, inclusive, of the Connecticut General Statutes.  If I deny the license, I must notify the proposed mortgage loan originator of the denial and the reasons for such denial.
 
Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have investigated your activities in Massachusetts, which revealed that in September 2004, you were indefinitely suspended from the practice of law by the Commonwealth of Massachusetts for expending clients’ funds with the intention of depriving such clients of their funds.
 
Based on the facts mentioned above, I am unable to find that your character and integrity are such as to warrant belief that granting you a license as a mortgage loan originator will be in the public interest and consistent with the purposes of Sections 36a-485 to 36a-498a, inclusive, and Sections 36a-760a to 36a-760h, inclusive, of the Connecticut General Statutes.
 
Very truly yours,
 
Howard F. Pitkin
Banking Commissioner
HFP/DK/td
 
Certified Mail No. 7099 3400 0009 0180 2741
 
cc: 1st New England Mortgage Corporation