DOB: Corey La Donne White, Denial of Mortgage Loan Originator License

November 23, 2009
 
FIRST CLASS AND CERTIFIED MAIL
 

Mr. Corey La Donne White
6 Shaughnessy Drive
East Hartford, CT 06118
 
Mr. Corey La Donne White
38 Hayes Drive
Windsor, CT 06095
 
Re: Denial of Mortgage Loan Originator License
 
Dear Mr. White:
 
On August 7, 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 US Mortgage Corporation d/b/a Mortgage Concepts Inc. which is currently licensed as a mortgage 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) 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 “(F) not made a material misstatement in the application.”  Section 36a-489(b)(1) also requires me to find that an applicant has “(C) demonstrated . . . character . . . so as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly . . . within the purpose of sections 36a-485 to 36a-498c, inclusive, . . . sections 36a-534a and 36a-534b, . . . and sections 9 and 19 to 21, inclusive, of . . . [public act 09-209].”  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)(2) of the Form MU4, which asked, “[h]ave you ever: . . . (2) been charged with a felony?”, you answered, “no.”  In response to Question 8(F)(1) of the Form MU4, which asked, “[h]ave you ever been convicted of or pled guilty or nolo contendere (‘no contest’) in a domestic, foreign, or military court to a misdemeanor involving:  financial services or a financial services-related business; any fraud, false statements, or omissions; any theft or wrongful taking of property; bribery; perjury; forgery; counterfeiting; extortion; or a conspiracy to commit any of these offenses?”, you answered, “no.”  (Emphasis added.)  Pursuant to the authority granted to me by Section 36a-17 of the Connecticut General Statutes, I have reviewed your criminal history record in Connecticut, which disclosed that in 1996 you were originally charged with Unemployment Fraud (a class D felony) and you were convicted of Larceny 5 (a class B misdemeanor).
 
A review of your criminal history in connection with your present application also reveals that you made material misstatements in your Loan Originator Addendum Form submitted in connection with an application for an originator registration in 2007 (“Addendum Form”).  In response to Question #1 on the Addendum Form, which asked, “[h]ave you ever been:  (a) convicted of or pled guilty or nolo contendere (‘no contest’) in a domestic, foreign, or military court to any misdemeanor or felony (not including motor vehicle traffic misdemeanors)?”, you answered, “[n]o.”
 
Based on your responses to Questions 8(D)(2) and 8(F)(1) on Form MU4 and the criminal history record described above, I find that you have made a material misstatement in your present application which prohibits me from issuing a mortgage loan originator license.  In addition, the present material misstatements, coupled with your failure to disclose your criminal history in 2007, also cause me to be unable to find that you have “demonstrated . . . character . . . so as to command the confidence of the community and to warrant a determination that . . . [you] will operate honestly . . . with in the purpose of sections 36a-485 to 36a-498c, inclusive, . . . sections 36a-534a and 36a-534b, . . . and sections 9 and 19 to 21, inclusive, of . . . [public act 09-209].”
 
For the reasons stated above, I am unable to issue you a mortgage loan originator license.
 
Very truly yours,
 
Howard F. Pitkin
Banking Commissioner
HFP/SLV/td
 
Certified Mail No. 7007 1490 0004 3509 7390
Certified Mail No. 7007 1490 0004 3509 7420
 
cc: US Mortgage Corporation d/b/a Mortgage Concepts Inc.