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In the Matter of
ACHIEVA HOME LOANS INC.
Mortgage Broker License No. MB3677; MB4365
WHEREAS, Achieva Home Loans Inc., Worcester, Massachusetts ("Achieva Home Loans" or the "Corporation"), a licensed mortgage broker under Massachusetts General Laws chapter 255E, section 2 has been advised of its right to Notice and Hearing pursuant to General Laws chapter 255E, section 7(a), 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 October 25, 2006, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a mortgage broker, Achieva Home Loans agrees to the issuance of this CONSENT ORDER ("ORDER") by the Commissioner of Banks ("Commissioner");
WHEREAS, pursuant to General Laws chapter 255E, section (7)(b), the Commissioner issued a Findings of Fact and Temporary Order to Cease and Desist, Docket No. 2006-20 (the "TEMPORARY ORDER"), against Achieva Home Loans on September 8, 2006, as a result of Achieva Home Loans' alleged failure to demonstrate and maintain the character, reputation, integrity, and general fitness that would warrant the belief that the Corporation's mortgage broker business will be operated honestly, fairly, and soundly in the public interest in violation of Massachusetts General laws chapter 255E, section 4 and the Division's regulation 209 CMR 42.06(2)(c).
WHEREAS, in recognition of the Division and Achieva Home Loans having reached the following mutual agreement under this ORDER to resolve the matters raised by the TEMPORARY ORDER, the Commissioner has terminated the TEMPORARY ORDER on this 25 th day of October 2006; and
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the TEMPORARY ORDER.
NOW COME the parties in the above-captioned matter, the Division and Achieva Home Loans, and stipulate and agree as follows:
By ORDER AND direction of the Commissioner of Banks.
Dated at Boston, Massachusetts, this 25th day of October 2006.
Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts