COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-002-CO
In the Matter of
WHEREAS, CHANTELL VANSTEENSEL, has been advised of her right to Notice and Hearing pursuant to Massachusetts General Laws chapter 30A, section 10 and chapter 255F, section 11(b), and having waived those rights, entered into a STIPULATION AND CONSENT TO THE ISSUANCE OF A CONSENT ORDER ("Consent Agreement") with representatives of the Division of Banks ("Division") dated August 9,2010, whereby, solely for the purpose of settling this matter, Chantell VanSteensel agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, the Division, through the Commissioner, has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a mortgage loan originator in Massachusetts pursuant to Massachusetts General Laws chapter 255F, section 2;
WHEREAS, Chantell VanSteensel's Massachusetts mortgage loan originator license application was deemed "abandoned" as of December 31, 2008;
WHEREAS, Chantell VanSteensel never obtained a Massachusetts mortgage loan originator license and she was never authorized to originate loans for Massachusetts property;
WHEREAS, on February 9, 2009, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination/inspection ("2009 examination/inspection") of the books, accounts, papers, records, and files maintained by Mortgage Master, Inc., license no. MC0226, located at 102 Elm Street, Walpole, MA, 02081;
WHEREAS, the Division's review of books and records during the 2009 examination/inspection revealed that Chantell VanSteensel originated two Massachusetts residential mortgage loans on behalf of Mortgage Master, Inc. at times during which, according to her attested record in the Nationwide Mortgage Licensing System ("NMLS"), she did not have an approved Massachusetts mortgage loan originator license in accordance with Massachusetts law; and
WHEREAS, the parties now seek to resolve by mutual agreement, the aforementioned matters.
NOW COME the parties in the above-captioned matter, the Division and Chantell VanSteensel, and stipulate and agree as follows:
- Chantell VanSteensel shall immediately cease engaging in the activities of a mortgage loan originator as defined in Massachusetts General Laws chapter 255F, section 1, for any entity until she obtains a mortgage loan originator license in Massachusetts and proper sponsorship from an employing entity through the NMLS, unless she qualifies for one of the seven exceptions to the mortgage loan originator's licensing requirements enumerated in the Division's regulation 209 CMR 41.03.
- On or before the thirtieth day after the effective date of this Consent Order, Chantell VanSteensel shall submit a payment of two thousand dollars ($2,000.00) in satisfaction of an administrative penalty collected in consideration of Chantell VanSteensel originating residential mortgage loans without being licensed as a mortgage loan originator in Massachusetts. Chantell VanSteensel shall remit payment in full of the amount indicated above, payable to the "Commonwealth of Massachusetts," with the executed copy of the Consent Agreement, to the Office of the Commissioner of Banks, 1000 Washington Street, 10 th Floor, Boston, Massachusetts 02118-6400.
- Chantell VanSteensel shall comply with all laws and regulations applicable to her conducting the business of a mortgage loan originator, including, but not limited to, Massachusetts General Laws chapter 255F, and the Division's regulation 209 CMR 41.00. Such obligations shall include a duty to ensure strict compliance with Massachusetts General Laws chapter 255F, section 2, which states, in part: "No individual shall act as a mortgage loan originator with respect to any dwelling unless such person has first obtained a mortgage loan originator license from the commissioner…"
- This Consent Order shall become effective immediately upon the date of its issuance.
- The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as the Commissioner or a court of competent jurisdiction modifies, terminates, suspends, or sets aside any provision of this Consent Order.
- This Consent Order and the Consent Agreement are the complete documents that represent the resolution of this matter. There are no other agreements, promises, representations, or warranties other than those set forth in this Consent Order and the Consent Agreement.
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 9th day of August, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts