DOB: Adam D. Gibson, Denial of Mortgage Loan Originator License

December 30, 2009
 
FIRST CLASS AND CERTIFIED MAIL
 

Mr. Adam D. Gibson
1682 St. John Avenue
Merrick, NY 11566
 
Re: Denial of Mortgage Loan Originator License
 
Dear Mr. Gibson:
 
On March 27, 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.  On July 7, 2009, All American Home Mortgage Corp. d/b/a All American Mortgage Bankers Corp., 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”, became your sponsoring company.  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 June 12, 2008, you pled guilty in the County Court of the State of New York, Nassau County, to one felony count of Criminal Possession of a Controlled Substance 5th Degree.  Because this felony plea occurred during the seven-year period preceding the date of your application, 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. 70031680000085235871
 
cc: All American Home Mortgage Corp.
      d/b/a All American Mortgage Bankers Corp.