Bulletin # 2780 - Week Ending June 2, 2017

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.

CONSUMER CREDIT DIVISION ACTIVITY

Consent Order

On June 1, 2017, the Commissioner entered into a Consent Order with Impac Mortgage Corp. (NMLS # 128231) (“Impac”) Irvine, California.  The Consent Order was based on an investigation by the Consumer Credit Division.  As a result of such investigation, the Commissioner alleged that, from at least April to August 2016, Impac engaged in the business of making residential mortgage loans from a location that was not licensed as a branch location, in violation of Section 36a-486 of the Connecticut General Statutes, and used a fictitious name not approved by the Commissioner, in violation of Section 36a-490 of the Connecticut General Statutes.  To resolve the matter, Impac agreed not to engage in the business of making residential mortgage loans in Connecticut from an unlicensed location, in violation of Section 36a 486 of the Connecticut General Statutes, or to use a fictitious name not approved by the Commissioner, in violation of Section 36a-490 of the Connecticut General Statutes, and paid a civil penalty of $50,000.