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WHEREAS, DENA MARIE FREITAS (Dena Freitas), a 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 December 24, 2013, whereby, solely for the purpose of settling this matter, Dena Freitas 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, Dena Freitas’ Massachusetts mortgage loan originator license was in an inactive status from February 2, 2009 through September 29, 2009 and from January 15, 2010 through April 15, 2010 because she was not properly sponsored by an employing entity through the National Mortgage Licensing System (NMLS);
WHEREAS, email notifications were delivered to Dena Freitas that her Massachusetts mortgage loan originator license status had changed to “inactive” on February 2, 2009 and on January 15, 2010, when her license status was updated on the NMLS;
WHEREAS, on May 18, 2011, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination of the books, accounts, papers, records, and files maintained by a licensed mortgage broker;
WHEREAS, on October 16, 2012, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination of the books, accounts, papers, records, and files maintained by a licensed mortgage broker and mortgage lender;
WHEREAS, the Division’s review of books and records during the above referenced examinations revealed that Dena Freitas originated Massachusetts residential mortgage loan applications on behalf of licensed mortgage companies 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 Dena Freitas, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 24th day of December, 2013
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts