By the Division of Banks


COMMONWEALTH OF MASSACHUSETTS

Suffolk, SS.

COMMISSIONER OF BANKS
MORTGAGE LOAN
ORIGINATOR LICENSING
Docket No. 2011-083-CO

CONSENT ORDER

In the Matter of
CHRISTOPHER M. TREMBLAY

Mortgage Loan Originator License No. MLO13152


WHEREAS, CHRISTOPHER M. TREMBLAY ("Christopher Tremblay" or the "Licensee"), a licensed mortgage loan originator under Massachusetts General Laws chapter 255F, section 2, has been advised of his right to Notice and Hearing pursuant to Massachusetts General Laws chapter 30A, section 10, 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 November 9, 2012, whereby Christopher Tremblay agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner"), solely for the purpose of settlement and compromise and expressly without admission of liability;

WHEREAS, the Division of Banks ("Division"), through the Commissioner, has jurisdiction over the licensing and regulation of persons engaged in the business of a mortgage loan originator in Massachusetts pursuant to Massachusetts General Laws chapter 255F, section 2;

WHEREAS, Christopher Tremblay is licensed by the Commissioner as a mortgage loan originator under Massachusetts General Laws chapter 255F, section 2. According to records maintained on file with the Division, the Commissioner initially issued a mortgage loan originator license, license number MLO13152, to Christopher Tremblay to engage in the business of a mortgage loan originator on or about September 23, 2008;

WHEREAS, Christopher Tremblay at all relevant times has been a Managing Member of Mortgage Dreams, LLC ("Mortgage Dreams"), a licensed mortgage broker under Massachusetts General Laws, chapter 255E, section 2;

WHERAS, on or about September 6, 2011, based upon the findings of a 2011 examination/inspection of Mortgage Dreams, the Division issued a FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST (the "Temporary Order"), Docket No. 2011-083, against Christopher Tremblay and alleged a failure to comply with applicable state and federal statutes, rules, and regulations governing the conduct of a licensed loan originator in Massachusetts;

WHEREAS, on or about September 19, 2011 Christopher Tremblay filed a request to reserve his right to proceed to an administrative hearing in accordance with Massachusetts General Laws chapter 30A;

WHEREAS, on or about November 4, 2011 Christopher Tremblay filed a response to the Temporary Order;

WHEREAS, Christopher Tremblay expressly denies and disputes any and all alleged failure to comply with applicable state and federal statutes, rules, and regulations governing the conduct of a licensed loan originator in Massachusetts;

WHEREAS after extensive negotiations and without this Consent Order constituting an admission by Christopher Tremblay of any allegations made or implied by the provisions of the Temporary Order, solely for the purpose of settlement of all alleged violations in the Temporary Order, without protracted administrative proceedings and judicial review, Christopher Tremblay hereby waives his right to complete the hearing process relative to this proceeding and affirms that he is willing to take all necessary action as set forth in this Consent Order;

WHEREAS, the parties now seek to resolve by mutual agreement, any and all matters arising out of the Temporary Order; and

WHEREAS, in recognition of the Division and Christopher Tremblay having reached the following mutual agreement under this Consent Order to resolve the matters raised by the Temporary Order, the Commissioner has terminated the Temporary Order on this 9th day of November, 2012, it having no further force or effect.

ORDER

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

  1. Immediately upon the execution of this Consent Order, Christopher Tremblay will refrain from negotiating, soliciting, arranging, providing or accepting any Massachusetts residential mortgage loan application, or assisting any consumer in completing such application, or otherwise operate as a mortgage loan originator, as that term is defined under General Laws chapter 255F, section 1.
  2. Immediately, upon the execution of this Consent Order, Christopher Tremblay’s mortgage loan originator license will be placed in a "Suspended" license status in the Nationwide Mortgage Licensing System (NMLS) until January 1, 2014.
  3. To the extent that Christopher Tremblay wishes to resume activity as a mortgage loan originator in Massachusetts on or after January 1, 2014, he will be required to submit a license renewal application to the Division through the NMLS. In addition to the application, Christopher Tremblay will need to complete all renewal requirements in accordance with the Division’s procedures. Upon approval of the renewal application, Christopher Tremblay’s license shall be placed in "Approved" status. The Commissioner shall have all of the discretion set forth within General Laws chapter 255F section 4, and the Division’s regulation 209 CMR 41.00 et seq. in determining whether to renew a license to Christopher Tremblay to conduct the licensed business; provided, however, any such renewal application shall not be denied on the basis of any allegation contained in the Temporary Order.
  4. The provisions of this Consent Order shall not limit, estop, or otherwise prevent any other state agency or department, other than the Division or the Commissioner of his designee, from taking any other action affecting Christopher Tremblay.
  5. This Consent Order shall become effective immediately upon the date of its issuance.
  6. In accordance with the terms of the Consent Agreement entered by Christopher Tremblay and the Commissioner, Christopher Tremblay has waived all rights of appeal that he may have relative to the Temporary Order and this Consent Order or any of its provisions.
  7. The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this Consent Order shall have been modified, terminated, suspended, or set aside by the Commissioner or upon an order of a court of competent jurisdiction.
  8. Nothing in this Consent Order shall be deemed to be an admission of Christopher Tremblay of any allegations or implications of fact or the existence of any violations of applicable state or federal rules, statutes, or regulations, including, without limitation, any such allegations set forth in the Temporary Order with Christopher Tremblay expressly denies.
  9. This Consent Order and the Consent Agreement are the complete documents representing 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 November, 2012

By:
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts