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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:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS:
Dated at Boston, Massachusetts, this 29th day of May, 2013
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts