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Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided.  Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days.  Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180.

On February 2, 2010, the Commissioner issued Findings of Fact, Conclusions of Law and Order (“Order”) In the Matter of:  Ideal Mortgage Bankers, Ltd. d/b/a Lending Key (“Respondent”).  In the Order, the Commissioner found that Respondent violated Section 36a-494(b) of the Connecticut General Statutes by failing to perform agreements with borrowers in that Respondent failed to ensure that the settlement agents funded borrower loans in accordance wit the HUD-1 settlement statements and the agreements that Respondent entered into with at least seven Connecticut borrowers.  The Commissioner ordered that (1) Respondent’s license to engage in the business of making mortgage loans in Connecticut be revoked, (2) Respondent cease and desist from failing to perform any agreement with borrowers, (3) a $100,000 civil penalty be imposed against Respondent, and (4) the Temporary Order to Cease and Desist no longer be in effect upon the entry of the Permanent Order to Cease and Desist.  A copy of the Order can be obtained from the Department’s website.

On February 2, 2010, the Commissioner issued an Order Revoking and Refusing to Renew Consumer Collection Agency License and Order to Cease and Desist (“Order”) in the Matter of:  Receivables Management Solutions, Inc. (“Respondent”).  The Order revokes and refuses to renew Respondent’s license to act as a consumer collection agency in Connecticut from 260 East Wentworth Avenue, W. St. Paul, Minnesota, and orders Respondent to cease and desist from violating Section 36a-802(a) of the Connecticut General Statutes, as amended by Public Act 09 208.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-802(a) of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.

On February 2, 2010, the Commissioner issued an Order Revoking Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Atlantis Mortgage Corporation d/b/a Atlantis Funding Corporation (“Respondent”).  The Order revokes Respondent’s license to act as a mortgage broker in Connecticut from 29 Union Street, New Bedford, Massachusetts, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09 209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.

On February 2, 2010, the Commissioner issued an Order Revoking Mortgage Broker License and Order to Cease and Desist (“Order”) in the Matter of:  Frontier Financial Group, Inc. (“Respondent”).  The Order revokes Respondent’s license to act as a mortgage broker in Connecticut from 21 Pershing Street, Hamden, Connecticut, and orders Respondent to cease and desist from violating Section 36a-492 of the Connecticut General Statutes, as amended by Public Act 09 209.  The Order was based on Respondent’s failure to maintain a surety bond in violation of Section 36a-492 of the Connecticut General Statutes, as amended.  A copy of the Order can be obtained from the Department’s website.

On February 5, 2010, the Commissioner entered into a Settlement Agreement with Cambridge Home Capital, LLC (“Cambridge Home Capital”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Cambridge Home Capital employed or retained, during the period of April 10, 2007 through December 18, 2007, three individuals as originators without registering them, in violation of Sections 36a-486(b) and 36a 511(b) of the then applicable Connecticut General Statutes.  As part of the Settlement Agreement, Cambridge Home Capital paid a civil penalty in the amount of $3,000.  A copy of the Settlement Agreement can be obtained from the Department’s website.

On February 5, 2010, the Commissioner entered into a Settlement Agreement with Darien Financial Services, Inc. (“Darien Financial Services”).  The Settlement Agreement was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Darien Financial Services employed or retained, during the period of November 2007 through January 2008, one individual as an originator without registering such individual, in violation of Sections 36a-486(b) and 36a 511(b) of the then applicable Connecticut General Statutes.  As part of the Settlement Agreement, Darien Financial Services paid $1,000 as a civil penalty.  A copy of the Settlement Agreement can be obtained from the Department’s website.