DOB: New View Mortgage Corp. - CO

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IN THE MATTER OF:

NEW VIEW MORTGAGE CORP.
NMLS # 287189

      ("New View Mortgage")           

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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, New View Mortgage is a New York corporation that is currently licensed as a mortgage lender under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes;

WHEREAS,
the Commissioner, through the Consumer Credit Division of the Department of Banking, investigated the activities of New View Mortgage 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, 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,
on December 17, 2012, as a result of the investigation, the Commissioner, acting pursuant to Sections 36a-494(b) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, Section 36a-52(a) of the Connecticut General Statutes and Section 36a-50(a) of the Connecticut General Statutes, as amended by Public Act 12-96, 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 (“Notice”) against New View Mortgage, which Notice is incorporated herein by reference;

WHEREAS,
the Commissioner alleged in the Notice that New View Mortgage failed to timely file its Standard MCR – Standard Condition – Financial Condition report that was due on March 30, 2012, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes and/or Section 36a 534b(c)(3) of the 2012 Supplement to the General Statutes, as amended by Public Act 12-96, which such violation forms the basis to issue an order to cease and desist pursuant to Section 36a-494(b) of the 2012 Supplement to the General Statutes, as amended, 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;

WHEREAS,
on December 17, 2012, the Notice was sent by certified mail, return receipt requested to New View Mortgage (Certified Mail No. 70112000000247316857);

WHEREAS,
on December 19, 2012, New View Mortgage received the Notice and on January 7, 2013, requested a hearing, which such hearing is currently scheduled for February 27, 2013;

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,
the Commissioner and New View Mortgage now desire to resolve the matters alleged in the Notice and set forth herein;

WHEREAS,
New View Mortgage admits that the report described in the Notice and set forth herein was not filed on its respective due date, and acknowledges that this Consent Order is a public record and is a reportable event for purposes of the regulatory disclosure questions on the Nationwide Mortgage Licensing System and Registry (“NMLS”), as applicable;

WHEREAS,
New View Mortgage 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 allegation contained in the Notice and set forth herein;

WHEREAS,
New View Mortgage herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls for timely and accurately filing required reports with the Commissioner through NMLS as required or as otherwise permitted under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes;

WHEREAS,
New View Mortgage agrees that the Notice may be used in construing the terms of this Consent Order and agrees to the language of this Consent Order;

AND WHEREAS,
New View Mortgage, through its execution of this Consent Order, voluntarily agrees to waive any applicable procedural rights, including a right to a hearing as it pertains to the allegation contained in the Notice and 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, New View Mortgage, 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 New View Mortgage, New View Mortgage shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Two Thousand Five Hundred Dollars ($2,500) as a civil penalty.

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1. The Sanction set forth above be and are hereby entered;
2. No later than the date this Consent Order is executed by New View Mortgage, New View Mortgage shall have satisfactorily filed on NMLS all mortgage call reports required to date, and also expressly including the 4th quarter mortgage call report due February 14, 2013.  In the future, New View Mortgage shall timely and accurately file all required reports on NMLS or as otherwise permitted under Part I of Chapter 668 of the Connecticut General Statutes in connection with its current, and any future license issued to New View Mortgage;
3. 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 New View Mortgage based upon the allegation set forth in the Notice and contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against New View Mortgage 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 New View Mortgage and reflected herein is subsequently discovered to be untrue;
4. So long as this Consent Order is promptly disclosed by New View Mortgage and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of New View Mortgage 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
5. This Consent Order shall become final when issued.


Issued at Hartford, Connecticut
this 22nd day of March 2013.             ________/s/_________
                                                     Howard F. Pitkin
                                                     Banking Commissioner



I, Corey Margolefsky, state on behalf of New View Mortgage Corp. 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 New View Mortgage Corp.; that New View Mortgage Corp., agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that New View Mortgage Corp., voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.                              

                     
                                                   By: ________/s/________  
                                                         Corey Margolefsky
                                                         Title:  President
                                                         New View Mortgage Corp.


State of:  New York

County of:  Suffolk


On this the 20th day of February 2013, before me, Danielle Tylutki, the undersigned officer, personally appeared Corey Margolefsky who acknowledged himself/herself to be the President of New View Mortgage Corp., a corporation, and that he/she as such President, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself/herself as President.

In witness whereof I hereunto set my hand.


                                                       _________/s/_________
                                                       Notary Public  
                                                       Date Commission Expires:  Aug. 16, 2014




 


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