Bulletin # 2746 - Week Ending October 7, 2016

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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800.  Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE CREDIT UNION ACTIVITY

Branch Activity

CONSUMER CREDIT DIVISION ACTIVITY

Notice of Intent to Issue Order to Cease and Desist And Notice of Intent to Impose Civil Penalty

On September 26, 2016, 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:  Landmark Financial Services, LLC d/b/a Landmark Home Loans (NMLS # 120296) (“Respondent”), Stamford, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner alleges that Respondent failed to timely file certain quarterly information required on the Nationwide Multistate Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegation set forth in the Notice.

Notice of Intent Not to Renew Mortgage Broker License, Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Impose Civil Penalty

On September 26, 2016, the Commissioner issued a Notice of Intent Not to Renew Mortgage Broker License, 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:  Patriot Financial, Inc (NMLS # 1642) (“Respondent”), Cary, North Carolina.  The Notice was the result of an investigation by the Consumer Credit Division.  The Commissioner alleges that Respondent failed to cooperate with the Commissioner and failed to provide information as directed by the Commissioner, in violation of Sections 36a-17(d) and 36a-498f(b) of the Connecticut General Statutes, which constitutes sufficient grounds to refuse to renew Respondent’s license to act as a mortgage broker and forms the basis to issue an order to cease and desist and to impose a civil penalty.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.