By the Division of Banks

COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
MORTGAGE LOAN ORIGINATOR
LICENSING
Docket No. 2010-378

CONSENT ORDER

In the Matter of
LAURA JEANNE GIBB

Mortgage Loan Originator License No.: MLO109625


.

WHEREAS, LAURA JEANNE GIBB ("Laura Gibb"), a licensed mortgage loan originator under Massachusetts General Laws chapter 255F, section 2 and 209 CMR 41.00 et seq., 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 March 8, 2010, whereby, solely for the purpose of settling this matter, Laura Gibb 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, the Commissioner initially approved a mortgage loan originator license, license number MLO109625 for Laura Gibb to engage in the business of a mortgage loan originator on September 10, 2008;

WHEREAS, on April 30, 2010, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination/inspection ("examination/inspection") of the books, accounts, papers, records, and files maintained by Blue Water Mortgage Corporation, license no. MB2616, Hampton, New Hampshire;

WHEREAS, the Division's review of books and records during the examination/inspection revealed that Laura Gibb originated two residential mortgage loan applications on behalf of Blue Water Mortgage Corporation at a time during which she was not yet licensed as a mortgage loan originator in Massachusetts; and

WHEREAS, the parties now seek to resolve by mutual agreement, the aforementioned matters.

ORDER

NOW COME the parties in the above-captioned matter, the Division and Laura Gibb, and stipulate and agree as follows:

  1. On or before the thirtieth day after the effective date of this Consent Order, Laura Gibb shall pay two thousand dollars ($2,000.00) in satisfaction of an administrative penalty collected in consideration of Laura Gibb originating a residential mortgage loan when she was not licensed as a mortgage loan originator in Massachusetts. Laura Gibb 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, One South Station, 3rd Floor, Boston, Massachusetts 02110.

  2. This Consent Order shall become effective immediately upon the date of its issuance.

  3. 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.

  4. 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 8th day of March, 2011






By: David J. Cotney
Commissioner of Banks