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IN THE MATTER OF:
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WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”;
WHEREAS, Mazza is an individual who was at all times relevant to this matter licensed as a mortgage loan originator in Connecticut, which license expired on January 1, 2010;
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, investigated the activities of Mazza pursuant to Section 36a-17(a) of the Connecticut General Statutes to determine if he had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;
WHEREAS, as a result of such investigation, on July 30, 2010, the Commissioner, acting pursuant to Sections 36a-494(b) of the 2010 Supplement to the General Statutes, and Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively “Notice”) against Mazza, which Notice is incorporated herein by reference;
WHEREAS, the Notice alleges that during the period of June 27 through September 17, 2009, Mazza, in connection with three (3) residential mortgage loan applications, knowingly made false statements with intent to defraud and for the purpose of influencing the action of a licensed mortgage correspondent lender, in violation of Section 36a-56 of the Connecticut General Statutes;
WHEREAS, the Notice also alleges that Mazza’s making false statements constitutes acts of fraud or misrepresenting, concealing, suppressing, intentionally omitting or otherwise intentionally failing to disclose material particulars of residential mortgage loan transactions to someone entitled to such information, as provided in Section 36a-494(b) of the 2010 Supplement to the General Statutes;
WHEREAS, on July 30, 2010, the Notice was mailed to Mazza by registered mail, return receipt requested (Registered Mail No. RB028037249US);
WHEREAS, on August 5, 2010, Mazza received the Notice;
WHEREAS, the Department received an Appearance and Request for Hearing form submitted by David H. Dworski, Esq., on behalf of Mazza dated August 16, 2010, in which Mazza requested a hearing on the Notice, which hearing is currently subject to an open-ended continuance;
WHEREAS, Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
WHEREAS, both the Commissioner and Mazza now desire to resolve the matters alleged in the Notice and set forth herein;
WHEREAS, Mazza voluntarily agrees to consent to the entry of the sanction described below without admitting or denying any allegation contained in the Notice and set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegations contained in the Notice and set forth herein;
WHEREAS, Mazza acknowledges that this Consent Order is a public record and, notwithstanding the foregoing paragraph, constitutes a finding by the Commissioner that Mazza has been involved in a violation of a financial services-related regulation or statute required to be disclosed in response to regulatory disclosure questions on the MU2 Form or MU4 Form on the Nationwide Mortgage Licensing System and Registry, as such forms may be applicable;
WHEREAS, Mazza has submitted evidence demonstrating economic hardship, such that the Commissioner believes that Mazza is financially incapable of paying any civil penalty that otherwise would have been assessed against Mazza;
WHEREAS, the Commissioner has determined that no civil penalty will be imposed on Mazza based on such economic hardship;
WHEREAS, Mazza agrees that the Notice may be used in construing the terms of this Consent Order, and agrees to the language in this Consent Order;
AND WHEREAS, Mazza, through his execution of this Consent Order, voluntarily agrees to waive his procedural rights, including a right to a hearing as it pertains to the allegations contained in the Notice and set forth herein, and voluntarily waives his right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.
CONSENT TO ENTRY OF SANCTION
WHEREAS, Mazza, through his execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:
Mazza shall be BARRED for three (3) years commencing from July 30, 2010, the date the Notice was issued by the Commissioner, from acting as a director, officer, partner, member, sole proprietor, shareholder, trustee, qualified individual, branch manager, employee, agent of or otherwise acting in any other capacity with any entity required to be chartered, licensed or registered, or otherwise comes within the jurisdiction of the Commissioner, and from individually acting in any capacity that would require licensure or registration by the Commissioner. After such three (3) year period, Mazza immediately shall be eligible to apply, through a licensed mortgage broker, for licensure to act as a mortgage loan originator or loan processor or underwriter pursuant to and subject to meeting all the requirements of Sections 36a-486, et seq., of the Connecticut General Statutes.
NOW THEREFORE, the Commissioner enters the following:
||The Sanction set forth above be and is hereby entered;|
||Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Mazza based upon the allegations contained in the Notice and set forth herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Mazza based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Mazza and reflected herein is subsequently discovered to be untrue;|
So long as this Consent Order is promptly disclosed by Mazza on the Nationwide Mortgage Licensing System and Registry, nothing in the issuance of this Consent Order shall adversely affect the ability of Mazza to apply for or obtain a license or renewal license under Part I of Chapter 668, Sections 36a-485, et seq., of the Connecticut General Statutes, provided all applicable legal requirements for such license are satisfied; and
This Consent Order shall become final when issued.
Dated at Hartford, Connecticut
this 20th day of April 2012. ________/s/_________
Howard F. Pitkin
I, John Mazza, state that I have read the foregoing Consent Order; that I know and fully understand its contents; that I agree freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that I voluntarily agree to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
Name: John Mazza
State of: Connecticut
County of: Fairfield
On this the 19th day of April 2012, before me, David H. Dworski, the undersigned officer, personally appeared John Mazza, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument and acknowledged that he executed the same for the purposes therein contained.
In witness whereof I hereunto set my hand.
Commissioner of the Superior Court
Administrative Orders and Settlements