DOB: Real Estate Law Center, P.C.

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IN THE MATTER OF:

REAL ESTATE LAW CENTER, P.C.

       ("Real Estate Law")

   
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CONSENT ORDER        

WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes, contained in Part II of Chapter 669 of the Connecticut General Statutes, “Debt Adjusters and Debt Negotiation”;
 
WHEREAS, Real Estate Law is California corporation with an office at 695 South Vermont Avenue, Suite 1100, Los Angeles, California;
 
WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation pursuant to Section 36a-17 of the Connecticut General Statutes into the activities of Real Estate Law 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 March 2, 2015, as a result of such investigation, the Commissioner, acting pursuant to Sections 36a-52(b), 36a-50(c), 36a-671a(b), 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, issued a Temporary Order to Cease and Desist, Order to Make Restitution (“Order to Make Restitution”), Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (collectively “Order and Notice”) against Real Estate Law, which Order and Notice is incorporated herein by reference;

WHEREAS, on March 3, 2015, the Order and Notice was sent by certified mail, return receipt requested, to Real Estate Law (Certified Mail No. 70120470000147903584) and to Real Estate Law’s agent (Certified Mail No. 70120470000147903591);

WHEREAS, on March 6, 2015, Real Estate Law received the Order and Notice, and no request for a hearing has been received by the Commissioner;
 
WHEREAS, the Commissioner alleged in the Order and Notice, with respect to the activity described therein, that Real Estate Law offered to engage in debt negotiation in this state without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes.  Such violation forms the basis to issue an order to cease and desist pursuant to Sections 36a-671a(b) and 36a-52(a) of the Connecticut General Statutes, issue an order to make restitution pursuant to Sections 36a-671a(b) and 36a-50(c) of the Connecticut General Statutes, and impose a civil penalty pursuant to Sections 36a-671a(b) and 36a-50(a) of the Connecticut General Statutes;
 
WHEREAS, as part of the Order to Make Restitution, the Commissioner ordered, pursuant to Section 36a-50(c) of the Connecticut General Statutes, that Real Estate Law make restitution of any sums obtained as a result of Real Estate Law’s violation of Section 36a-671(b) of the Connecticut General Statutes, plus interest at the legal rate set forth in Section 37-1 of the Connecticut General Statutes.  Specifically, the Commissioner ordered that not later than thirty (30) days from the date the Order to Make Restitution becomes permanent, Real Estate Law shall repay to any Connecticut resident who entered into an agreement for debt negotiation services with Real Estate Law on and after October 1, 2009, any fees paid by such resident plus interest, and provide evidence of such repayments to the Director of the Consumer Credit Division;
 
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 Real Estate Law now desire to resolve the matters alleged in the Order and Notice and set forth herein;
 
WHEREAS, Real Estate Law voluntarily agrees to consent to the entry of the sanctions imposed below without admitting or denying any allegation contained in the Order and Notice and set forth herein and solely for the purpose of obviating the need for further formal administrative proceedings concerning the allegation contained in the Order and Notice and set forth herein;
 
WHEREAS, Real Estate Law herein represents that on or about April 2013, Real Estate Law ceased and desisted from engaging and offering to engage in debt negotiation in this state;
 
WHEREAS, Real Estate Law agrees that the Order and Notice may be used in construing the terms of this Consent Order and agrees to the language of this Consent Order;
 
AND WHEREAS, Real Estate Law, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a hearing as it pertains to the allegation contained in the Order and 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 SANCTIONS

WHEREAS, Real Estate Law, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanctions:

1.Real Estate Law shall immediately cease and desist from violating Section 36a-671(b) of the Connecticut General Statutes;
2.No later than the date this Consent Order is executed by Real Estate Law, Real Estate Law shall repay the balance of $450 to the Connecticut resident identified in Exhibit A attached hereto, and repay any other Connecticut resident who entered into an agreement for debt negotiation services with Real Estate Law on and after October 1, 2009, plus interest, and shall provide evidence of such repayment to Carmine Costa, Director, Consumer Credit Division, Department of Banking, 260 Constitution Plaza, Hartford, Connecticut 06103-1800, or carmine.costa@ct.gov.


CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1.The sanctions set forth above be and are 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 Real Estate Law based upon the allegation contained in the Notice and Order 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 Real Estate Law 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 Real Estate Law and reflected herein is subsequently discovered to be untrue;
3.Upon issuance of this Consent Order by the Commissioner, and so long as Real Estate Law complies with the terms of this Consent Order, nothing in the issuance of this Consent Order shall adversely affect the ability of Real Estate Law to apply for or obtain renewal licenses under Sections 36a-671 to 36a-671e, inclusive, of the Connecticut General Statutes, contained in Part II of Chapter 669 of the Connecticut General Statutes; and
4.This Consent Order shall become final when issued.


Issued at Hartford, Connecticut
this 19th day of May 2015.           _______/s/_________
                                                     Jorge L. Perez
                                                     Banking Commissioner


I, Erikson M. Davis, state on behalf of Real Estate Law Center, P.C., 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 Real Estate Law Center, P.C.; that Real Estate Law Center, P.C., agrees freely and without threat or coercion of any kind to comply with the provisions of this Consent Order; and that Real Estate Law Center, P.C., 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:  Erickson M. Davis
                                                     Title:  CEO
                                                     Real Estate Law Center, P.C.

State of:  California

County of:  Los Angeles

On this the 12 day of May 2015, before me, Wendy Leatherwood, the undersigned officer, personally appeared Erikson M. Davis who acknowledged himself to be the CEO of Real Estate Law Center, P.C., a corporation, and that he, as such CEO, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself as CEO.

In witness whereof I hereunto set my hand.


                                                    _________/s/_________
                                                    Notary Public  
                                                    Date Commission Expires: 



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