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”, and Sections 9 and 19 to 21, inclusive, of Public Act 09-209;

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 Section 36a-17 of the Connecticut General Statutes, to determine if Respondent had violated, was violating or was about to violate the provisions of the Connecticut General Statutes within the jurisdiction of the Commissioner;

WHEREAS, on December 30, 2009, the Commissioner, acting pursuant to Section 36a-494(a)(2) of the Connecticut General Statutes, as amended by Public Act 09-209, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes, issued a Notice of Intent to Revoke Mortgage Loan Originator License and Notice of Right to Hearing (collectively “Notice”) against Respondent, which Notice is incorporated herein by reference;

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 revoking Respondent’s license to act as a mortgage loan originator in Connecticut;

WHEREAS, on December 30, 2009, the Notice was sent by registered mail, return receipt requested, to Respondent (registered mail nos. RB028036875US and RB028036889US);

WHEREAS, on January 6, 2010, the Notice mailed to Respondent at 21-6 Lisa Court, Waterbury, Connecticut 06704, registered mail no. RB028036875US, was returned to the Department marked, “Returned to Sender – Addressee Unknown”;

WHEREAS, the Notice sent to Respondent at 488 Perkins Avenue, Apt. 2-7, Waterbury, Connecticut 06704-1982, registered mail no. RB028036889US, was not returned to the Department and the United States Postal Service has indicated to the Department that it has no record of this item;

WHEREAS, on April 28, 2010, a copy of the Notice was sent to Respondent at 488 Perkins Avenue, Apt. 2-7, Waterbury, Connecticut 06704-1982, by registered mail, return receipt requested (registered mail no. RB028037076US), and by first class mail;

WHEREAS, the copy of the Notice sent to Respondent on April 28, 2010, again 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 revoking Respondent’s license to act as a mortgage loan originator in Connecticut;

WHEREAS, on June 2, 2010, the Notice sent to Respondent, registered mail no. RB028037076US, was returned to the Department marked, “Unclaimed”;

WHEREAS, the copy of the Notice sent to Respondent by first class mail has not been returned to the Department;

WHEREAS, Section 36a-51(a) of the Connecticut General Statutes provides that “[t]he notice shall be deemed received by the licensee on the earlier of the date of actual receipt or seven days after mailing or sending”;

WHEREAS, no request for a hearing has been received by the Commissioner;

WHEREAS, the Commissioner alleged in the Notice, with respect to the activity described therein, that Respondent’s failure to promptly file with the Nationwide Mortgage Licensing System or otherwise directly notify the Commissioner, in writing, of certain administrative actions, constitutes a violation of Section 36a-490(d) of the Connecticut General Statutes, as amended by Public Act 09-209, and constitutes sufficient grounds for the Commissioner to revoke Respondent’s license to act as a mortgage loan originator in Connecticut pursuant to Section 36a-494(a)(2) of the Connecticut General Statutes, as amended, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

WHEREAS, the Commissioner alleged in the Notice, with respect to the activity described therein, that the findings made in administrative actions by the Commissioner that Respondent violated the Connecticut Uniform Securities Act, constitute a basis for the Commissioner to conclude that Respondent failed to demonstrate character and general fitness so as to command the confidence of the community and to warrant a determination that Respondent will operate honestly, fairly and efficiently within the purpose of Sections 36a-485 to 36a-498c, inclusive, as amended, Sections 36a-534a and 36a-534b, as amended, and Sections 9 and 19 to 21, inclusive, of Public Act 09-209.  Such failure would prohibit the Commissioner from issuing an initial license under Section 36a-489(b)(1)(C) of the Connecticut General Statutes, as amended, which constitutes sufficient grounds to revoke Respondent’s mortgage loan originator license pursuant to Section 36a-494(a)(2) of the Connecticut General Statutes, as amended, and subsections (a) and (b) of Section 36a-51 of the Connecticut General Statutes;

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 . . . revoke. . . the license.  No such license shall be . . . revoked except 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”.

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