DOB: Parks, Randy E. and Fishman, David - CO

* * * * * * * * * * * * * * * * * * *

IN THE MATTER OF:

PARKS, RANDY E. AND
FISHMAN, DAVID d/b/a
HOMEOWNERS FINANCE CO.
NMLS # 77271

      ("Homeowners Finance")

   
* * * * * * * * * * * * * * * * * * *


*
*
*
*
*
*
*
*
*
*
*
*

CONSENT ORDER        

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,
Homeowners Finance is a Connecticut partnership that was licensed as a mortgage lender under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes during the January 1 to December 31, 2012 licensing period, which such license has now expired;
 
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an examination and an investigation pursuant to the authority granted by Section 36a-17(a) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, and Section 36a-498f of the Connecticut General Statutes, of the activities of Homeowners Finance to determine if it 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 the examination and investigation, the Commissioner alleges that Homeowners Finance failed to file certain quarterly and annual information required by mortgage call reports on the Nationwide Mortgage Licensing System and Registry (“NMLS”), in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, effective October 1, 2012;
 
WHEREAS, such violations form the basis to, among other things, issue an order to cease and desist pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, and Section 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, and Section 36a-50(a) of the Connecticut General Statutes, as amended by Public Act 12-96;
 
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, Homeowners Finance has otherwise satisfactorily responded to items identified as a result of examination as it relates to its mortgage lender license;
 
WHEREAS, the Commissioner and Homeowners Finance now desire to resolve the matters set forth herein;
 
WHEREAS, Homeowners Finance voluntarily agrees to consent to the entry of the sanction described below, solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegations set forth herein;  
 
WHEREAS, Homeowners Finance agrees to the language of this Consent Order;
 
AND WHEREAS, Homeowners Finance, through its execution of this Consent Order, voluntarily agrees to waive any applicable procedural rights to notice and a hearing as it pertains to the allegations set forth herein and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order.


CONSENT TO ENTRY OF SANCTION

WHEREAS, Homeowners Finance, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:

No later than the date this Consent Order is executed by Homeowners Finance, Homeowners Finance, or any other company with Randy E. Parks and David Fishman as a control person, shall not be eligible to reapply for licensure as a mortgage lender, mortgage correspondent lender or mortgage broker before June 30, 2013.

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1. The Sanction set forth above be and is hereby entered;
2. 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 Homeowners Finance based upon the allegations set forth herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Homeowners Finance 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 Homeowners Finance and reflected herein is subsequently discovered to be untrue;
3. So long as this Consent Order is promptly disclosed by Homeowners Finance and its control persons on NMLS, as applicable, and on and after June 30, 2013, nothing in the issuance of this Consent Order shall adversely affect the ability of Homeowners Finance or any other company with Randy E. Parks and David Fishman as a control person to apply for or obtain licenses or renewal licenses 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
4.
This Consent Order shall become final when issued.



Issued at Hartford, Connecticut
this 18th day of January 2013.           ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner



I, David Fishman, state on behalf Parks, Randy E. and Fishman, David d/b/a Homeowners Finance Co., that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Parks, Randy E. and Fishman, David d/b/a Homeowners Finance Co.; that Parks, Randy E. and Fishman, David d/b/a Homeowners Finance Co., agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Parks, Randy E. and Fishman, David d/b/a Homeowners Finance Co., voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.

                                               By:  ________/s/_________  
                                                     Name:  David Fishman
                                                     Title:  Partner
                                                     Parks, Randy E. and Fishman, David
                                                     d/b/a Homeowners Finance Co.

State of:  Connecticut

County of:  Hartford


On this the 14th day of January 2013, before me, Michael J. Middleton, the undersigned officer, personally appeared David Fishman who acknowledged himself to be the Partner of Parks, Randy E. and Fishman, David d/b/a Homeowners Finance Co., a partnership, and that he as such Partner, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the partnership by himself as Partner.

In witness whereof I hereunto set my hand.


                                                       _________/s/_________
                                                       Notary Public  
                                                       Date Commission Expires:  11-30-2015



Administrative Orders and Settlements