WHEREAS, on May 9, 2014, the Banking Commissioner (“Commissioner”), acting pursuant to Sections 36a-494(b), 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 (“collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, the Commissioner alleged in the Notice that Respondent failed to file the financial condition component of the mortgage call report (“MCR”) that was due on March 31, 2014 (“2013 Financial Condition”), in violation of Section 36a-534b(c)(3) of Connecticut General Statutes, which violation forms the basis to issue an order to cease and desist pursuant to Sections 36a-494(b) and 36a-52(a) of the Connecticut General Statutes, and to impose a civil penalty pursuant to Sections 36a 494(b) and 36a-50(a) of the Connecticut General Statutes, subject to Respondent’s right to a hearing on the allegation contained in the Notice;

WHEREAS, upon further investigation, it has come to the attention of the Commissioner that  Respondent elected to file (but was not required to file) its MCRs as an expanded filer, and as such expanded filer, filed required financial information for 2013 in connection with each of four quarterly MCR filings;

WHEREAS, due to a configuration issue on the Nationwide Mortgage Licensing System and Registry (“System”), a System-generated deficiency was posted to Respondent’s license indicating that the 2013 Financial Condition MCR was outstanding, upon which the Commissioner relied when issuing the Notice;

WHEREAS, the obligation to file reports of condition required by the System under Section 36a-534b can be satisfied through a company’s elective decision to file, and the filing of, required financial information in each of four quarterly expanded MCRs in lieu of a single end-of-year standard financial condition MCR;

AND WHEREAS, Section 36a-1-55(b) of the Regulations of Connecticut State Agencies provides, in pertinent part, that “[t]he commissioner may withdraw an order at any time before a final decision is issued”.

NOW THEREFORE, based on the above, the Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing issued against Respondent are HEREBY WITHDRAWN.

So ordered at Hartford, Connecticut,
this 17th day of June 2014.                      _________/s/_________
                                                             Howard F. Pitkin
                                                             Banking Commissioner

This Withdrawal was mailed by
certified mail, return receipt requested,
to Respondent on June 18, 2014.

CUSTOMIZED MORTGAGE SOLUTIONS, LLC      Certified Mail No. 7012 1010 0001 7264 7322
Attention:  Victor M. Polce, President
One DeWolf Road, Suite 209
Old Tappan, New Jersey 97675

CUSTOMIZED MORTGAGE SOLUTIONS, LLC      Certified Mail No. 7012 1010 0001 7264 7339
Attention:  Victor M. Polce, President
One DeWolf Road, Suite 208
Old Tappan, New Jersey 97675

Administrative Orders and Settlements