offered by
Consent Order

Consent Order David Francis Bardsley Jr.

Date: 05/29/2013
Organization: Division of Banks
Docket Number: 2012-009

Table of Contents


Suffolk, SS.

Docket No. 2012-009


In the Matter of


Mortgage Loan Originator License No. MLO23303

WHEREAS, David Francis Bardsley, Jr. (David Bardsley), a licensed Massachusetts mortgage loan originator, has been advised of his 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 May 29, 2013, whereby, solely for the purpose of settling this matter, David Bardsley 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, David Bardsley’s Massachusetts mortgage loan originator license expired as of January 1, 2011 because he failed file a license renewal application for calendar year 2011;

WHEREAS, David Bardsley re-applied for a Massachusetts mortgage loan originator license on March 3, 2011 and such license was approved and issued on April 12, 2011;

WHEREAS, on June 7, 2011, 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 Norwich Commercial Group, Inc. d/b/a Norcom Mortgage ("Norwich Commercial Group"), Avon, Connecticut, license no. ML71655;

WHEREAS, the Division’s review of books and records during the examination/inspection revealed that David Bardsley originated four (4) Massachusetts residential mortgage loan applications on behalf of Norwich Commercial Group after his initial license expired and before his March 3, 2011 application was approved; 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 David Bardsley, and stipulate and agree as follows:

  1. On or before the thirtieth day after the effective date of this Consent Order, David Bardsley shall submit a payment of four thousand dollars ($4,000.00) in satisfaction of an administrative penalty collected in consideration of David Bardsley originating four residential mortgage loans without being licensed as a mortgage loan originator in Massachusetts. David Bardsley shall remit payment in full of the amount indicated above, payable to the "Commonwealth of Massachusetts", to the Office of the Commissioner of Banks, Attn: Mortgage Supervision Licensing Unit, 1000 Washington Street, 10th Floor, Boston, Massachusetts 02118.
  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, 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.
  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.


Dated at Boston, Massachusetts, this 29th day of May, 2013

David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts