| * * * * * * * * * * * * * * * * * * * * * IN THE MATTER OF: IRMSCHER, DENNIS, DONALD | * * * * * * * * * * * | 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, Irmscher Mortgage Services is a sole proprietorship 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, conducted 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, into the activities of Irmscher Mortgage Services 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 14, 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 Irmscher Mortgage Services, which Notice is incorporated herein by reference;
WHEREAS, the Commissioner alleged in the Notice that Irmscher Mortgage Services failed to file its MCR – Standard – Financial Condition (2011) 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 Irmscher Mortgage Services (Certified Mail No. 70112000000247316796);
WHEREAS, on December 20, 2012, Irmscher Mortgage Services received the Notice;
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 Irmscher Mortgage Services now desire to resolve the matters alleged in the Notice and set forth herein;
WHEREAS, Irmscher Mortgage Services admits that the report described in the Notice and set forth herein was not filed on its 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, Irmscher Mortgage Services 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 contained in the Notice and set forth herein;
WHEREAS, Irmscher Mortgage Services 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, Irmscher Mortgage Services, 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 allegations 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, Irmscher Mortgage Services, 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 Irmscher Mortgage Services, Irmscher Mortgage Services shall request surrender of its mortgage broker license and Irmscher Mortgage Services or any other company with Dennis Donald Irmscher as a control person shall not be eligible to apply for licensure as a mortgage lender, mortgage correspondent lender or mortgage broker before February 1, 2014.
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 Irmscher Mortgage Services based upon the allegations 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 Irmscher Mortgage Services 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 Irmscher Mortgage Services and reflected herein is subsequently discovered to be untrue; |
| 3. | So long as this Consent Order is promptly disclosed by Irmscher Mortgage Services and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of Irmscher Mortgage Services or any other company with Dennis Donald Irmscher 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 after February 1, 2014, 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 13th day of August 2013.
________/s/_________
Howard F. Pitkin
Banking Commissioner
I, Dennis Donald Irmscher, state on behalf of Irmscher, Dennis, Donald d/b/a Irmscher Mortgage Services, 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 Irmscher, Dennis, Donald d/b/a Irmscher Mortgage Services; that Irmscher, Dennis, Donald d/b/a Irmscher Mortgage Services agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Irmscher, Dennis, Donald d/b/a Irmscher Mortgage Services 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:
Title: Owner
Irmscher, Dennis, Donald
d/b/a Irmscher Mortgage Services
State of: CT
County of: Middlesex
On this the 5th day of August 2013, before me, Karen Lee Marsden, the undersigned officer, personally appeared Dennis Irmscher who acknowledged himself/herself to be the Owner of Irmscher, Dennis, Donald d/b/a Irmscher Mortgage Services, a sole proprietorship, and that he/she as such Owner, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the sole proprietorship by himself/herself as Owner.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: Aug. 31, 2017