On April 1, 2011, the Commissioner entered into a Consent Order with Maverick Funding Corp. (“Maverick Funding”).  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that:  (1) the qualified individual for the main office did not complete either the education requirement or the national and state tests by April 1, 2010, in violation of Section 36a-488(a)(3) of the Connecticut General Statutes; (2) the branch managers for two branches did not complete the state test by April 1, 2010, in violation of Section 36a-488(a)(3) of the Connecticut General Statutes; (3) Maverick Funding failed to promptly update the Nationwide Mortgage Licensing System and Registry (“NMLS”), or otherwise provide the Commissioner with information required by the MU1 and MU2 Forms pertaining to disclosure of certain civil and criminal matters and regulatory events, in violation of Section 36a-490(b) of the Connecticut General Statutes; (4) in 2007, Maverick Funding filed a statement with the Commissioner that was, at the time and in the light of the circumstances under which it was made, false or misleading in a material respect, in violation of Section 36a-53a of the Connecticut General Statutes; (5) from at least November 2009 through September 2010, Maverick Funding compensated unlicensed third-party lead generation service providers for mortgage brokering or mortgage loan origination, in violation of Section 36a-496 and Section 36a 498e(6) of the Connecticut General Statutes; (6) from at least November 2009 through March 2010, Maverick Funding paid various mortgage brokers a volume-based incentive that was based on the volume of loans produced by the broker each month in violation of 24 CFR 3500.14, which, in turn, constituted a violation of Section 36a-498e(8) of the Connecticut General Statutes; and (7) Maverick Funding paid an individual for unlicensed broker activity on at least two Connecticut loans made by Maverick on or about February 22, 2010 and March 17, 2010 in violation of Section 36a 496 and Section 36a-498e(6) of the Connecticut General Statutes.  As part of the Consent Order, Maverick Funding was ordered to pay a civil penalty in the amount of $48,500.

On April 8, 2011, the Commissioner entered into a Consent Order with Luxury Mortgage Corp. (“Luxury Mortgage”).  The Consent Order was based on an examination by the Consumer Credit Division.  As a result of such examination, the Commissioner alleged that Luxury Mortgage employed or retained, during the period of October 28, 2008 through May 21, 2010, six (6) individuals as mortgage loan originators who were not licensed, in violation of Sections 36a-486(b) of the Connecticut General Statutes.  As part of the Consent Order, Luxury Mortgage agreed to pay $6,000 as a civil penalty.

On April 6, 2011, the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  The Debt Answer, LLC (“Respondent”).  The Notice alleges that Respondent offered to engage in debt negotiation in Connecticut without obtaining the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes; engaged in debt negotiation in this state on and after October 1, 2009, with 116 debtors and collected fees without the required license, in violation of Section 36a-671(b) of the Connecticut General Statutes; and engaged in debt negotiation services on and after October 1, 2009, with at least 110 Connecticut residents and collected fees under terms which did not comply with Section 36a 671b(b) of the Connecticut General Statutes and the schedule of maximum fees established by the Commissioner pursuant to said section, in violation of Section 36a-671b(b) of the Connecticut General Statutes.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegations set forth in the Notice.

On April 6, 2011, the Commissioner issued a Temporary Order to Cease and Desist, Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of:  North American Asset Services, LLC d/b/a Frontier Financial Group a/k/a FFG & Associates (“Respondent”).  The Notice alleges that Respondent acted as a consumer collection agency in Connecticut without the requisite license, in violation of Section 36a-801(a) of the Connecticut General Statutes.  The Commissioner also found that public welfare required the issuance of a Temporary Order to Cease and Desist.  Respondent was afforded an opportunity to request a hearing with regard to the allegation set forth in the Notice.