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WHEREAS, DAVID GEORGE ROBISON, JR. ("David Robison" or the "Licensee"), a licensed mortgage loan originator under Massachusetts General Laws chapter 255F, section 2, has been advised of his right to Notice and Hearing pursuant to Massachusetts General Laws chapter 30A, section 10, 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 __September 17__, 2010, whereby, solely for the purpose of settling this matter, David Robison agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, The Division of Banks ("Division"), through the Commissioner, has jurisdiction over the licensing and regulation of persons engaged in the business of a mortgage loan originator in Massachusetts pursuant to Massachusetts General Laws chapter 255F, section 2;
WHEREAS, David Robison is licensed by the Commissioner as a mortgage loan originator under Massachusetts General Laws chapter 255F, section 2. According to records maintained on file with the Division, the Commissioner initially issued a mortgage loan originator license, license number MLO58052, to David Robison to engage in the business of a mortgage loan originator on September 24, 2009;
WHEREAS, David Robison was formerly the President and 34% owner of Arista Lending Solutions, Inc., Dover, New Hampshire ("Arista Lending");
WHEREAS, on April 28, 2009 the State of New Hampshire Banking Department issued an Order to Show Cause dated April 28, 2009 against Arista Lending Solutions, Inc. and David G. Robison, individually ("New Hampshire Order to Show Cause");
WHEREAS, the New Hampshire Order to Show Cause commenced an adjudicative proceeding pursuant to which the New Hampshire Banking Department sought the revocation of Arista Lending's New Hampshire mortgage broker license and the imposition of monetary penalties;
WHEREAS, David Robison initially applied for a Massachusetts mortgage loan originator license on August 3, 2009 and his application was deemed complete on September 21, 2009;
WHEREAS, in executing the application for licensure on the Nationwide Mortgage Licensing System (NMLS), David Robison attested that all information and statements contained therein, were current, true, accurate and complete, and were made under the penalties of perjury;
WHEREAS, in executing the application for licensure on the NMLS, David Robison attested that he would keep the information contained in the application form current and that he would file accurate supplementary information on a timely basis;
WHEREAS, in executing the application for licensure on the NMLS, David Robison agreed that if he made a false statement of a material fact in his application, said application may be denied by the Division;
WHEREAS, David Robison answered "no" to Disclosure Question (I)(4) on the NMLS application which asks: "Has any State or federal regulatory agency or foreign financial regulatory authority ever entered an order against you in connection with financial services-related activity?"
WHEREAS, David Robison's failure to disclose the New Hampshire Order to Show Cause prevented the Division from conducting a complete and informed investigation into his qualifications for licensure;
WHEREAS, on December 1, 2009, the New Hampshire Order to Show Cause was settled pursuant to a Consent Order (New Hampshire Consent Order) whereby, without David Robison admitting nor denying the factual basis for the consent order, the parties agreed, in part, to the revocation of Arista Lending's New Hampshire mortgage broker license and that David Robison would be prohibited from applying for a New Hampshire mortgage loan originator license for a period of 24 months from the effective date of the New Hampshire Consent Order;
WHEREAS, David Robison had the capability to update his application information on the NMLS at any time;
WHEREAS, David Robison answered "no" to Disclosure Questions (I)(5) and (I)(6) which ask: "Has any State or federal regulatory agency or foreign financial regulatory authority ever: (5) revoked your registration or license? (6) denied or suspended your registration or license, disciplined you, or otherwise by order, prevented you from associating with a financial services-related business or restricted your activities?"
WHEREAS, David Robison updated his responses to the above-referenced Disclosure Questions on July 22, 2010; only after being informed by Division staff that the Division had become aware of the New Hampshire regulatory actions referenced above;
WHEREAS, the Division has serious concerns relating to David Robison's failure to disclose the New Hampshire Order to Show Cause upon initial application and his failure to update his NMLS record after the New Hampshire Consent Order was issued;
WHEREAS, the Division and David Robison have engaged in numerous discussions regarding this matter;
WHEREAS, the parties now seek to resolve by mutual agreement, the issues identified above.
NOW COME the parties in the above-captioned matter, the Division and David Robison, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 17th day of September, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts