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WHEREAS, AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC d/b/a ANNIEMAC HOME MORTGAGE, (American Neighborhood Mortgage or the Company), a licensed mortgage broker and mortgage lender 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 July 12, 2017, 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 and mortgage lender, American Neighborhood Mortgage agrees to the issuance of this CONSENT ORDER (Consent Order) by the Commissioner of Banks (Commissioner);
WHEREAS, a compliance examination and Mortgage Lender Community Investment (CRA) examination of American Neighborhood Mortgage were conducted pursuant to General Laws chapter 255E, section 8, as of November 29, 2016 to assess the Company’s level of compliance with applicable Massachusetts and federal statutes, rules and regulations governing the conduct of those engaged in the business of a mortgage broker and mortgage lender in the Commonwealth;
WHEREAS, the Report of Examination (Report) issued pursuant to the Division’s Examination, alleged non-compliance with applicable Massachusetts and federal statutes, rules, and regulations governing the conduct and licensing of those engaged in the business of a mortgage broker and mortgage lender in the Commonwealth; and
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Report;
NOW COME the parties in the above-captioned matter, the Division and American Neighborhood Mortgage, stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 12th day of July, 2017
By: Terence A. McGinnis
Commissioner of Banks
Commonwealth of Massachusetts