WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534c, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”;

WHEREAS, the Commissioner, through the Consumer Credit Division of the Department of Banking, conducted an investigation of the activities of Respondent, pursuant to the authority granted by Sections 36a-17 and 36a-498f of the Connecticut General Statutes, to determine if Respondent continues to meet the minimum standards for renewal of its mortgage broker license under the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on April 11, 2016, the Commissioner, acting pursuant to Section 36a-494(a)(1) of the 2016 Supplement to the General Statutes and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, issued a Notice of Intent to Not to Renew Mortgage Broker License and Notice of Right to Hearing (“Notice”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on April 13, 2016, the Notice was sent by certified mail, return receipt requested, to Respondent (Certified Mail No. 70142120000036974091), and its registered agent (Certified Mail No. 70142120000036974237);

WHEREAS, the Notice provided Respondent with the opportunity for a hearing and stated that if a hearing was not requested within 14 days of its receipt, the Commissioner would issue an order refusing to renew Respondent’s mortgage broker license in Connecticut for the reasons set forth in the Notice, and that such order shall cause Respondent’s mortgage broker license in Connecticut to be deemed expired;

WHEREAS, on April 14, 2016, Respondent’s registered agent received the Notice and on April 18, 2016, Respondent received the Notice, and no request for a hearing has been received by the Commissioner;

WHEREAS, the Commissioner alleged in the Notice that Respondent’s failure to have a designated qualified individual for Connecticut at its main office (“QI”) who has the required experience and the required mortgage loan originator license would constitute sufficient grounds to deny an application for a mortgage broker license under Section 36a-489(a)(1)(A) of the Connecticut General Statutes, which constitutes sufficient grounds to refuse to renew Respondent’s mortgage broker license in Connecticut under Section 36a-494(a)(1) of the 2016 Supplement to the General Statutes, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, the Commissioner further alleged in the Notice that Respondent’s failure to have a QI who has the required experience and mortgage loan originator license also causes Respondent to fail to meet minimum standards for renewal under Section 36a-489(a)(2)(A) of the Connecticut General Statutes, which shall cause such license to expire;

WHEREAS, Section 36a-51(b) of the Connecticut General Statutes provides, in pertinent part, that “[i]f the licensee does not request a hearing within the time specified in the notice . . . , the commissioner shall . . . refuse to renew the license”;

AND WHEREAS, Section 36a-1-31(a) of the Regulations of Connecticut State Agencies provides, in pertinent part, that “[w]hen a party fails to request a hearing within the time specified in the notice, the allegations against the party may be deemed admitted.  Without further proceedings or notice to the party, the commissioner shall issue a final decision in accordance with section 4-180 of the Connecticut General Statutes and section 36a-1-52 of the Regulations of Connecticut State Agencies”.

1.	The Commissioner finds that the matters asserted, as set forth in paragraphs 1 through 26, inclusive, of Section II of the Notice shall constitute findings of fact within the meaning of Section 4-180(c) of the Connecticut General Statutes, and that the conclusions as set forth in Section III of the Notice shall constitute conclusions of law within the meaning of Section 4-180(c) of the Connecticut General Statutes and Section 36a-1-52 of the Regulations of Connecticut State Agencies.
2.	The Commissioner finds that Respondent failed to designate a QI with the required experience and mortgage loan originator license, which pursuant to Section 36a-494(a)(1) of the 2016 Supplement to the General Statutes and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, constitutes sufficient grounds to refuse to renew Respondent’s mortgage broker license in Connecticut.
3.	The Commissioner finds that Respondent has failed to meet minimum standards for renewal under Section 36a-489(a)(2)(A) of the Connecticut General Statutes, which shall cause such license to expire.
4.	The Commissioner finds that the Notice was given in compliance with subsections (a) and (b) of Section 36a-51 and Sections 4-177 and 4-182(c) of the Connecticut General Statutes.

1.	The license of QuinStreet Media, Inc., to act as a mortgage broker in Connecticut NOT BE RENEWED;
2.	The license of QuinStreet Media, Inc., to act as a mortgage broker in Connecticut, shall be deemed EXPIRED; and
3.	This Order shall become effective when mailed.

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