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, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation of the activities of Respondent, pursuant to the authority granted by Sections 36a-17 and 36a-498f of the Connecticut General Statutes, to determine if Respondent continues to meet the minimum qualifications for licensure under the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on October 9, 2015, the Commissioner, acting pursuant to Section 36a-494(a)(1) of the Connecticut General Statutes, as amended by Public Act 15-235, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, issued a Notice of Intent to Revoke Mortgage Lender License and Notice of Right to Hearing (“Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on October 9, 2015, the Notice was sent by certified mail, return receipt requested, to Respondent (Certified Mail No. 70143490000235259640);

WHEREAS, the Notice provided Respondent with the opportunity for a hearing and stated that if a hearing was not requested within 14 days of its receipt, the Commissioner would issue an order revoking Respondent’s mortgage lender license in Connecticut;

WHEREAS, on October 13, 2015, Respondent received the Notice and no request for a hearing has been received by the Commissioner;

WHEREAS, the Commissioner alleged in the Notice, with respect to the activity described therein, that Respondent’s failure to designate any qualified individual would constitute sufficient grounds to deny a mortgage lender license under Sections 36a-489(a)(1) and 36a-488 of the Connecticut General Statutes, which constitutes sufficient grounds to revoke Respondent’s license to engage in the business of making residential mortgage loans in Connecticut for the 2015 licensing period under Section 36a-494(a)(1) of the Connecticut General Statutes, as amended, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, Section 36a-51(b) of the Connecticut General Statutes provides, in pertinent part, that “[i]f the licensee does not request a hearing within the time specified in the notice . . . , the commissioner shall . . . revoke . . . the license.  No such license shall be . . . revoked except in accordance with the provisions of chapter 54”;

AND WHEREAS, Section 36a-1-31(a) of the Regulations of Connecticut State Agencies provides, in pertinent part, that “[w]hen a party fails to request a hearing within the time specified in the notice, the allegations against the party may be deemed admitted.  Without further proceedings or notice to the party, the commissioner shall issue a final decision in accordance with section 4-180 of the Connecticut General Statutes and section 36a-1-52 of the Regulations of Connecticut State Agencies”.

1.	The Commissioner finds that the matters asserted, as set forth in paragraphs 1 through 12, inclusive, of Section II of the Notice shall constitute findings of fact within the meaning of Section 4-180(c) of the Connecticut General Statutes, and that the conclusions as set forth in Section III of the Notice shall constitute conclusions of law within the meaning of Section 4-180(c) of the Connecticut General Statutes and Section 36a-1-52 of the Regulations of Connecticut State Agencies.
2.	The Commissioner finds that Respondent failed to designate any qualified individual which, pursuant to Section 36a-494(a)(1) of the Connecticut General Statutes, as amended, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, constitutes sufficient grounds to revoke Respondent’s license to engage in the business of making residential mortgage loans in Connecticut.
3.	The Commissioner finds that the Notice was given in compliance with subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes and Sections 4-177 and 4-182(c) of the Connecticut General Statutes.

1.	The license of MCM Holdings, Inc. d/b/a MCM Holdings, II, Inc., to engage in the business of making residential mortgage loans in Connecticut be and is hereby REVOKED; and
2.	This Order shall become effective when mailed.

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