| * * * * * * * * * * * * * * * * * * * *
IN THE MATTER OF: ATLANTIC HOME CAPITAL, CORP. ("Atlantic Funding") |
*
*
* * * * * * * * * |
CONSENT ORDER |
WHEREAS, Atlantic Funding is a New York corporation that is currently licensed as a mortgage broker under Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes;
WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”;
WHEREAS, Section 36a-490(b) of the Connecticut General Statutes requires that mortgage broker licensees file with the Nationwide Mortgage Licensing System and Registry (“NMLS”) a change of address of a main office at least 30 calendar days prior to such change, and provide directly to the commissioner, a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects the address of the main office;
WHEREAS, Atlantic Funding failed to file with NMLS a change of address of its main office at least 30 calendar days prior to such change and failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner;
WHEREAS, the Commissioner believes that such allegation would support initiation of proceedings against Atlantic Funding, which proceedings would constitute a “contested case” within the meaning of Section 4-166(4) of the Connecticut General Statutes. Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law;
WHEREAS, Atlantic Funding, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to notice and an opportunity for hearing as it pertains to the allegation set forth herein, voluntarily agrees to consent to the entry of the sanction imposed below without admitting or denying any allegation contained herein and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order;
WHEREAS, Atlantic Funding acknowledges that this Consent Order is a public record and is a reportable event for purposes of NMLS, as applicable;
AND WHEREAS, Atlantic Funding herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls to ensure that Atlantic Funding will file any change it makes to its name or any address of any office specified on its most recent filing with NMLS at least thirty (30) calendar days prior to such change and, in connection with such change, Atlantic Funding will provide, directly to the Commissioner, a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects such change.
CONSENT TO ENTRY OF SANCTION
WHEREAS, Atlantic Funding, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:
No later than the date this Consent Order is executed by Atlantic Funding, it shall remit to the Department of Banking by cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Five Hundred Dollars ($500) as a civil penalty.
CONSENT ORDER
NOW THEREFORE, the Commissioner enters the following:
| 1. | The Sanction set forth above be and is hereby entered; |
| 2. | Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Atlantic Funding based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Atlantic Funding based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Atlantic Funding and reflected herein is subsequently discovered to be untrue; |
| 3. |
So long as this Consent Order is promptly disclosed by Atlantic Funding and its control persons, as applicable, on NMLS, nothing in the issuance of this Consent Order shall adversely affect the ability of Atlantic Funding to apply for or obtain licenses or renewal licenses under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes, and for its mortgage loan originators to apply for or obtain licensure from the Commissioner, provided all applicable legal requirements for such license are satisfied; and |
| 4. |
This Consent Order shall become final when issued.
|
Issued at Hartford, Connecticut
this 31st day of December 2015. ________/s/_________
Jorge L. Perez
Banking Commissioner
I, John DeBlasio, state on behalf of Atlantic Home Capital, Corp. d/b/a Atlantic Funding, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Atlantic Home Capital, Corp. d/b/a Atlantic Funding; that Atlantic Home Capital, Corp. d/b/a Atlantic Funding agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Atlantic Home Capital, Corp. d/b/a Atlantic Funding voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein.
By: ________/s/_________
Name: John DeBlasio
Title: President
Atlantic Home Capital, Corp.
d/b/a Atlantic Funding
State of: New York
County of: Suffolk
On this the 29 day of December 2015, before me, Roy Pedersen, the undersigned officer, personally appeared John DeBlasio who acknowledged himself/herself to be the President of Atlantic Home Capital, Corp. d/b/a Atlantic Funding, a corporation, and that he/she as such President, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the corporation by himself/herself as President.
In witness whereof I hereunto set my hand.
________/s/_________
Notary Public
Date Commission Expires: 7/8/18