| * * * * * * * * * * * * * * * * * * * * * * * IN THE MATTER OF: MILLER MORTGAGE, LLC | * * * * * * * * * * * | CONSENT ORDER |
WHEREAS, Miller Mortgage is a Massachusetts limited liability company that is currently licensed in Connecticut as a mortgage broker under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes;
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 pursuant to the authority granted by Sections 36a-17 and 36a-498f of the Connecticut General Statutes into the activities of Miller Mortgage 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 8, 2015, as a result of the investigation, the 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 (“Notice”) against Miller Mortgage, which Notice is incorporated herein by reference;
WHEREAS, the Commissioner alleged in the Notice that Miller Mortgage failed to file a mortgage call report (“MCR”) that was due on March 31, 2015 (“Standard Financial Condition 2014”). The Commissioner alleged that such failure to file the Standard Financial Condition 2014 MCR on the date that it was due constituted a violation of Section 36a-534b(c)(3) of Connecticut General Statutes and which forms the basis to issue an order to cease and desist pursuant to Sections 36a-494(b) and/or 36a-52(a) of the Connecticut General Statutes and to impose a civil penalty pursuant to Sections 36a-494(b) and/or 36a-50(a) of the Connecticut General Statutes;
WHEREAS, on September 8, 2015 the Notice was sent by certified mail, return receipt requested, to Miller Mortgage (Certified Mail Nos. 70143490000235345060 and 70133020000042269401);
WHEREAS, on September 10, 2015, Miller Mortgage received the Notice and on September 17, 2015, 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 Miller Mortgage now desire to resolve the matters alleged in the Notice and set forth herein;
WHEREAS, Miller Mortgage admits that the Standard Financial Condition 2014 MCR described in the Notice and set forth herein was not filed on its due date;
WHEREAS, Miller Mortgage 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, Miller Mortgage voluntarily agrees to consent to the entry of the sanctions imposed 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, Miller Mortgage 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, Miller Mortgage, through its execution of this Consent Order, voluntarily agrees to waive any applicable procedural rights, including its right to a hearing, regarding 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, Miller Mortgage, 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 Miller Mortgage, they shall request surrender of its Connecticut mortgage broker license on NMLS. Miller Mortgage (and any subsequent company with Christopher Miller serving in the capacity of control person, qualified individual or branch manager) shall not be eligible to apply for licensure as a mortgage lender, mortgage correspondent lender, mortgage broker or mortgage servicer under applicable provisions of the Connecticut General Statutes for a period of time that is six (6) months from the date that the surrender request is accepted on NMLS by the Commissioner.
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 Miller Mortgage 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 Miller Mortgage 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 Miller Mortgage and reflected herein is subsequently discovered to be untrue; |
| 3. | Subject to the foregoing, and so long as this Consent Order is promptly disclosed by Miller Mortgage and its control persons on NMLS, as applicable, nothing in the issuance of this Consent Order shall adversely affect the ability of Miller Mortgage to apply for or obtain licenses or renewal licenses as a mortgage lender, mortgage correspondent lender, mortgage broker or mortgage servicer after the expiration of the period that is six (6) months from the date that the surrender request is accepted on NMLS by the Commissioner, provided that all applicable legal requirements for such license are satisfied; and |
| 4. | This Consent Order shall become final when issued. |
Issued at Hartford, Connecticut
this 4th day of December 2015. _______/s/_________
Jorge L. Perez
Banking Commissioner
I, Christopher Miller, state on behalf of Miller Mortgage, LLC, 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 Miller Mortgage, LLC; that Miller Mortgage, LLC agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Miller Mortgage, LLC 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: Christopher Miller
Title: Manager
Miller Mortgage LLC
State of: MA
County of: Essex
On this the 24 day of November 2015, before me, DL MA, the undersigned officer, personally appeared Christopher Miller who acknowledged himself/herself to be the Christopher Miller of Miller Mortgage, LLC, a member managed/manager managed limited liability company, and that he/she as such Christopher Miller, 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/herself as Christopher Miller.
In witness whereof I hereunto set my hand.
_________/s/_________
Notary Public
Date Commission Expires: September 17, 2021