DOB: Landmark Financial Services - CO

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IN THE MATTER OF:

LANDMARK FINANCIAL
SERVICES, LLC
d/b/a LANDMARK HOME LOANS
NMLS # 120296

       ("Landmark Home Loans")
   
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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, Landmark Home Loans is a Connecticut limited liability company that is currently licensed as a mortgage broker 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, pursuant to the authority granted by Sections 36a-17 and 36a-498f of the Connecticut General Statutes, investigated the activities of Landmark Home Loans 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 September 26, 2016, as a result of the investigation, the Commissioner, acting pursuant to Section 36a-494(b) of the 2016 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 (“Notice”) against Landmark Home Loans, which Notice is incorporated herein by reference;

WHEREAS, the Commissioner alleged in the Notice that Landmark Home Loans failed to file its Standard RMLA – 2016 (Q2) mortgage call report that was due on August 14, 2016, until September 12, 2016, thereby causing Landmark Home Loans to fail to timely file a report with the Commissioner, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes, which violation forms the basis to issue an order to cease and desist pursuant to Section 36a-494(b) of the 2016 Supplement to the General Statutes and Section 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Section 36a-494(b) of the 2016 Supplement to the General Statutes and Section 36a-50(a) of the Connecticut General Statutes;

WHEREAS, on September 27, 2016, the Notice was sent by certified mail, return receipt requested, to Landmark Home Loans (Certified Mail Nos. 70123050000069998522, 70123050000069998355 and 70123050000069998362);

WHEREAS, on September 29, 2016, Landmark Home Loans received the Notice and on October 3, 2016, requested a hearing;

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 Landmark Home Loans now desire to resolve the matters alleged in the Notice and set forth herein;

WHEREAS, Landmark Home Loans admits that the mortgage call report described in the Notice and set forth herein was not filed on its due date;

WHEREAS, Landmark Home Loans herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls for timely and accurately filing all required reports with the Commissioner, including but not limited to, mortgage call reports required to be submitted to the Commissioner through the Nationwide Multistate Licensing System and Registry (“NMLS”);

WHEREAS, Landmark Home Loans acknowledges that this Consent Order is a public record and is a reportable event for purposes of the regulatory disclosure questions on NMLS, as applicable;

WHEREAS, Landmark Home Loans voluntarily agrees to consent to the entry of the sanction imposed 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, Landmark Home Loans 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, Landmark Home Loans, 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, Landmark Home Loans, 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 Landmark Home Loans, it shall remit to the Department of Banking by wire transfer or by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Five Hundred Dollars ($500) as a civil penalty.


CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

1. The Sanction set forth above be and is hereby entered;
2. No later than the date this Consent Order is executed by Landmark Home Loans, it shall have satisfactorily filed on NMLS all mortgage call reports required to date.  In the future, Landmark Home Loans shall timely and accurately file all required reports in connection with its current and any future license issued to Landmark Home Loans;
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 Landmark Home Loans 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 Landmark Home Loans 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 Landmark Home Loans and reflected herein is subsequently discovered to be untrue;
4. Subject to the foregoing, and so long as this Consent Order is promptly disclosed by Landmark Home Loans and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of Landmark Home Loans 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 28th day of November 2016.                ______/s/__________
                                                           Jorge L. Perez
                                                           Banking Commissioner

I, John Lasko, state on behalf of Landmark Financial Services, LLC d/b/a Landmark Home Loans 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 Landmark Financial Services, LLC d/b/a Landmark Home Loans; that Landmark Financial Services, LLC d/b/a Landmark Home Loans agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Landmark Financial Services, LLC d/b/a Landmark Home Loans 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:  John Lasko
                                                       Title: Member, LLC
                                                       Landmark Financial Services, LLC
                                                       d/b/a Landmark Home Loans
State of:  Connecticut

County of:  Fairfield

On this the 19th day of November 2016, before me, James V. Lacerenza, the undersigned officer, personally appeared John Lasko who acknowledged himself to be the John Lasko / Member of Landmark Financial Services, LLC d/b/a Landmark Home Loans, a member managed/manager managed limited liability company, and that he as such John Lasko, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself as John Lasko

In witness whereof I hereunto set my hand.


                                                      __________/s/___________
                                                      Notary Public
                                                      Date Commission Expires:  4/30/2019



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