|Organization:||Division of Banks|
Consent Order Carol Ann Green
Carol Ann Green - Consent Order
COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2012-027
In the Matter of
CAROL ANN GREEN
Mortgage Loan Originator License No. MLO22389
WHEREAS, CAROL ANN GREEN (Carol Green), a formerly 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, 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 20, 2012, whereby, solely for the purpose of settling this matter, Carol Green 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, Carol Green’s Massachusetts mortgage loan originator license was in an inactive status from June 4, 2009 through November 10, 2009 because she was not properly sponsored by an employing entity through the National Multi-State Licensing System & Registry (NMLS);
WHEREAS, an email notification was delivered to Carol Green that her Massachusetts mortgage loan originator license status had changed to "inactive" on June 4, 2009, when her license status was updated on the NMLS;
WHEREAS, the Division’s review of books and records during an examination of a licensed mortgage lender revealed that Carol Green originated eleven (11) Massachusetts residential mortgage loan applications when her license was in an inactive status; 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 Carol Green, and stipulate and agree as follows:
- In consideration of Carol Green originating eleven (11) residential mortgage loans in Massachusetts while her mortgage loan originator license was in an inactive status, the Division has accepted an administrative penalty payment in the amount of eleven thousand dollars ($11,000.00) from the mortgage lender for whom the relevant loans were originated, which was submitted on Carol Green’s behalf.
- Carol Green, during all relevant times in the future shall comply with all laws and regulations applicable to 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 et seq. Such obligations shall include a duty to ensure that she refrains from acting as a mortgage loan originator in Massachusetts unless she holds an active mortgage loan originator license and is properly sponsored through the NMLS by the appropriate employing entity.
- 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, 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.
- 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 20th day of November, 2012
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts