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, Earnest Home is a Delaware limited liability company that is currently licensed as a mortgage lender under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes, with a main office at 303 Second Street, 4th Floor, San Francisco, California;

WHEREAS, Section 36a-490(b) of the Connecticut General Statutes, as amended by Public Act 17-38, requires that a mortgage lender licensee file with the Nationwide Mortgage Licensing System and Registry (“NMLS”) a change of the address of its main office at least thirty (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 new address of the main office;

WHEREAS, on November 27, 2017, Earnest Home filed an advance change notice for the location of its main office with an effective date of December 11, 2017;

WHEREAS, Earnest Home failed to file with NMLS a change of address of its main office at least thirty (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 Earnest Home, 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, Earnest Home, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a notice and an opportunity for a hearing as it pertains to the allegation set forth herein, voluntarily agrees to consent to the entry of the sanction imposed below and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order;

WHEREAS, Earnest Home acknowledges that this Consent Order is a public record and is a reportable event for purposes of NMLS, as applicable;

AND WHEREAS, Earnest Home herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls to ensure that Earnest Home 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, Earnest Home 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, Earnest Home, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction:

CONSENT ORDER

NOW THEREFORE, the Commissioner enters the following:

Issued at Hartford, Connecticut
this 1st day of May 2018.                                    ______/s/__________
                                                                      Jorge L. Perez
                                                                      Banking Commissioner

I, Benjamin Hutchinson, state on behalf of Earnest Home LLC, 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 Earnest Home LLC; that Earnest Home LLC agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Earnest Home LLC 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:  Benjamin Hutchinson
                                                                   Title:  Manager
                                                                   Earnest Home LLC