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The Department of Banking News Bulletin 

Bulletin # 2552
Week Ending January 18, 2013

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail. Written comments will be considered only if they are received within ten days from the date of this bulletin.



SECURITIES AND BUSINESS INVESTMENTS DIVISION ACTIVITY
Order Imposing Fine
On January 18, 2013, the Banking Commissioner entered an Order Imposing Fine (Docket No. CRF-12-7892-S) against Steadfast Holdings Group, Inc. f/k/a Beere Financial Group, Inc. of East Haven, Connecticut and Las Vegas, Nevada.  The action had been preceded by a December 17, 2012 Order to Cease and Desist, Order to Make Restitution, Notice of Intent to Fine and Notice of Right to Hearing (Docket No. CRF-12-7892-S) alleging that 1) Steadfast Holdings Group, Inc., together with correspondents Stead-Fast Custom Linings, LLC, John Calash and Christopher Borgo, offered and sold unregistered securities in violation of Section 36b-16 of the Connecticut Uniform Securities Act; 2) Steadfast Holdings Group, Inc. violated Section 36b-6(b) of the Act by engaging unregistered agents of issuer; and 3) Steadfast Holdings Group, Inc., together with respondents John Calash, Susan Calash and Stead-Fast Custom Linings, LLC, violated the antifraud provisions in Section 36b-4(a) of the Act.
In fining Steadfast Holdings Group, Inc. $50,000, the Commissioner adopted as Findings of Fact and Conclusions of Law the allegations in the December 17, 2012 Order to Cease and Desist, Order to Make Restitution and Notice of Intent to Fine.  Steadfast Holdings Group, Inc. did not appear or contest the imposition of the fine.  Similarly uncontested by the respondent were the Order to Cease and Desist and the Order to Make Restitution, each of which became permanent as to Steadfast Holdings Group, Inc. on January 4, 2013.
CONSUMER CREDIT DIVISION ACTIVITY
Notice of Intent to Issue Order to Cease and Desist
and Notice of Intent to Impose Civil Penalty
On December 11, 2012, the Commissioner 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”) in the Matter of:  First Choice Mortgage Services, LLC (NMLS # 70986) (“Respondent”), Stratford, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes and Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes, as amended by Public Act 12 96.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.
On December 11, 2012, the Commissioner 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”) in the Matter of:  Fort Funding Corp (NMLS # 39463) (“Respondent”), Brooklyn, New York.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain quarterly and annual information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes and Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes, as amended by Public Act 12 96.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.
       Dated:  Wednesday, January 23, 2013
       Howard F. Pitkin
       Banking Commissioner