March 29, 2010
FIRST CLASS AND CERTIFIED MAIL
Mr. Richard B. Schulman
422 East 72nd Street, Apartment 21E
New York, NY 10021
Re: Denial of Mortgage Loan Originator License
Dear Mr. Schulman:
On June 2, 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 Berkeley Mortgage, LLC, 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 of the 2010 Supplement to the General Statutes, I hereby deny the license for the reason set forth below.
Section 36a-489(b)(1)(B) of the 2010 Supplement to the General Statutes 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”. In response to Question 8(D)(2) of the Form MU4, which asked, “[h]ave you ever: . . . (2) been charged with 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 August 5, 1998, you pled guilty in the Supreme Court of the State of New York, New York County, to one count of Insurance Fraud (3rd degree), a felony under New York law. Because this felony conviction involves an act of fraud and has not been pardoned, 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
Certified Mail No. 70031680000085236052
cc: Berkeley Mortgage, LLC