DOB: Gary William Lynde, Denial of Mortgage Loan Originator License

November 17, 2009
 
FIRST CLASS AND CERTIFIED MAIL
 

Mr. Gary William Lynde
545 West Street
Braintree, MA 02184
 
Re: Denial of Mortgage Loan Originator License
 
Dear Mr. Lynde:
 
On June 17, 2009, 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 Prestige Home Mortgage, L.L.C., 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 reason 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 29, 1992, in the Marlboro, Massachusetts District Court, you were convicted of the felony offense of Receiving Stolen Property over $250, and, on November 18, 1992, in the Natick, Massachusetts District Court, you were convicted of the felony offense of Receiving Stolen Property over $250.  Because those felony convictions involve acts of dishonesty, I am prohibited by law from issuing you a mortgage loan originator license.
 
For the reason stated above, I am unable to issue you a mortgage loan originator license.
 
Very truly yours,
 
Howard F. Pitkin
Banking Commissioner
 
HFP/DK/ag
 
Certified Mail No. 7003 1680 0000 8523 5819
 
cc: Prestige Home Mortgage, L.L.C.