August 25, 2009
FIRST CLASS AND CERTIFIED MAIL
Mr. Ronald Veram Kenderian
10 Tamarack Lane
Pomona, NY 10970
Re: Denial of Mortgage Loan Originator License
Dear Mr. Kenderian:
On November 26, 2008, you filed a Form MU4, “Uniform Individual Mortgage License/Registration & Consent Form” (“Form MU4”), with the Nationwide Mortgage Licensing System seeking to obtain a mortgage loan originator license in Connecticut. Your sponsoring company is Union Federal Mortgage Corporation, which is currently licensed as a mortgage correspondent lender under Part I of Chapter 668 of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”. Pursuant to Section 36a-489 of the Connecticut General Statutes, as amended by Public Acts 09-207, 09-208 and 09-209, I hereby deny the license for the reasons set forth below.
Section 36a-489(b)(1)(B) of the Connecticut General Statutes, as amended, prohibits me from issuing an initial license for a mortgage loan originator unless I find at a minimum, among other things, that the applicant has “notwithstanding the provisions of section 46a-80, . . . not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign or military court during the seven-year period preceding the date of the application for licensing or at any time preceding such date of application if such felony involved an act of fraud, dishonesty, a breach of trust, or money laundering, provided any pardon of a conviction shall not be a conviction for purposes of this subdivision”. If I deny the license, I must notify the applicant and may notify the sponsor of the denial and the reasons for such denial.
In response to Question 8(D)(1) of the Form MU4, which asked “[h]ave you ever: (1) been convicted of or pled guilty or nolo contendere (‘no contest’) in a domestic, foreign, or military court to any felony?”, you answered “yes.” Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have reviewed your criminal history record, which disclosed that on July 19, 1991, you pled guilty to four felony counts of misapplication of bank funds in violation of 18 U.S.C. 657. The plea agreement entered between you and the United States Attorney for the District of New Jersey contained the following stipulation, “[t]he offense involved an abuse of a position of trust or the use of a special skill, so the offense level is increased by 2.”
In addition, review of your criminal history record disclosed that on March 3, 1992, you pled guilty in New Jersey Superior Court to two counts of theft by failure to make required disposition of property received in violation of Section 2C:20-9 of the New Jersey Statutes. The judgment of conviction papers stated that “[d]efendant took advantage of trust,” “betrayed trust,” and inflicted “[f]inancial and psychological harm . . . on people who trusted him.”
Because both the federal and state felony convictions involved breaches of trust, I am unable to issue you a mortgage loan originator license. Please be advised that I have taken into consideration your representation that the criminal charges against you are in the process of being expunged, as well as the statement you provided from the New Jersey State Police that a fingerprint search failed to reveal any criminal record in New Jersey. However, pursuant to Section 36a-489(b)(1)(B) of the Connecticut General Statutes, as amended, I am unable to issue you a mortgage loan originator license absent a pardon of all of the above-referenced felony convictions.
For the reasons stated above, I am unable to issue you a mortgage loan originator license.
Very truly yours,
Howard F. Pitkin
Certified Mail No. 7007 1490 0004 3509 7239
cc: Union Federal Mortgage Corporation