WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534b, 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 (“Department”), 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, as amended by Public Act 17-38, to determine if it had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on November 13, 2017, the Commissioner, acting pursuant to Sections 36a-494(b), 36a-52(a) and 36a-50(a)(1) of the Connecticut General Statutes, as amended by Public Act 17-38, 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”) against Respondent, which Notice is incorporated herein by reference;

WHEREAS, on November 13, 2017, the Notice was sent by electronic mail to the natural person designated by Respondent as the primary contact in the contact employee fields on the Nationwide Multistate Licensing System and Registry;

WHEREAS, the Notice provided Respondent with the opportunity for a hearing, and stated that if a hearing was not requested by Respondent within 14 days of Respondent’s receipt, the allegation would be deemed admitted and the Commissioner would issue an order that Respondent cease and desist from violating Section 36a-534b(c) of the Connecticut General Statutes, as amended by Public Act 17-38, and that the Commissioner may order a civil penalty in an amount not to exceed One Hundred Thousand Dollars ($100,000) per violation be imposed upon Respondent;

WHEREAS, the Notice issued against Respondent is deemed received by Respondent on the earlier of the date of actual receipt by any natural person to whom it was sent or seven days after sending, pursuant to Section 6 of Public Act 17-38;

WHEREAS, Respondent failed to request a hearing within the prescribed time period;

WHEREAS, the Commissioner alleged in the Notice, with respect to the activity described therein, that Respondent’s failure to timely file the mortgage call report that was due on March 31, 2017 (“MCR-Standard-Financial Condition–2016”) violated Section 36a-534b(c) of the Connecticut General Statutes, as amended, which forms the basis to issue an order to cease and desist pursuant to Sections 36a-494(b) and 36a-52(a) of the Connecticut General Statutes, as amended, and to impose a civil penalty pursuant to Sections 36a-494(b) and 36a-50(a) of the Connecticut General Statutes, as amended;

WHEREAS, Section 36a-52(a) of the Connecticut General Statutes, as amended, provides, in pertinent part, that “[i]f the person does not request a hearing within the time specified in the notice . . . the commissioner shall issue an order to cease and desist against the person.  No such order shall be issued except in accordance with the provisions of chapter 54”;

WHEREAS, Section 36a-50(a)(2) of the Connecticut General Statutes, provides, in pertinent part, that “[i]f such person does not request a hearing within the time specified in the notice . . . the commissioner may, as the facts require, order that a civil penalty not exceeding one hundred thousand dollars per violation be imposed upon such person”;

WHEREAS, Section 36a-50(a)(3) of the Connecticut General Statutes, provides that “[e]ach action undertaken by the commissioner under this subsection shall be in accordance with the provisions of chapter 54”;

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 7, 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 has engaged in acts or conduct which, pursuant to Sections 36a-494(b) and 36a-52(a) of the Connecticut General Statutes, as amended, forms the basis to issue an order to cease and desist against Respondent, and, pursuant to Sections 36a-494(b) and 36a-50(a) of the Connecticut General Statutes, as amended, forms the basis to impose a civil penalty upon Respondent.
3.	The Commissioner finds that the Notice was given in compliance with Section 6 of Public Act 17-38, Sections 36a-52(a) and 36a-50(a) of the Connecticut General Statutes, as amended, and Section 4-177 of the Connecticut General Statutes. III.  ORDER

1.	Medford Mortgage LLC CEASE AND DESIST from violating Section 36a-534b(c) of the Connecticut General Statutes, as amended;
2.	A CIVIL PENALTY of Three Thousand Five Hundred Dollars ($3,500) be imposed upon Medford Mortgage LLC, to be remitted to the Department of Banking by wire transfer, cashier’s check, certified check or money order, made payable to “Treasurer, State of Connecticut”, no later than thirty (30) days from the date this Order is mailed; and
3.	This Order shall become effective when mailed.

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