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WHEREAS, FIRST HOME MORTGAGE CORPORATION, Baltimore, Maryland (“First Home” or the “Company”), a licensed mortgage lender under Massachusetts General Laws chapter 255E, section 2, has been advised of its right to Notice and Hearing pursuant to General Laws chapter 255E, section 7(a), 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 October 2, 2012 whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a mortgage lender, First Home agrees to the issuance of this CONSENT ORDER (“Order”) by the Commissioner of Banks (“Commissioner”);
WHEREAS, a Mortgage Lender Community Investment examination of First Home was conducted pursuant to General Laws chapter 255E, section 8, as of May 18, 2012 to assess the Company’s level of compliance with applicable Massachusetts statutes and the Division’s regulations governing the conduct of those engaged in the business of a mortgage lender in the Commonwealth; and
WHEREAS, the Report of Examination (the “Report”) issued pursuant to the Division’s examination of First Home as conducted as of May 18, 2012 alleged non-compliance with certain applicable state and federal statutes, rules, and regulations governing the conduct of those engaged in the business of a mortgage lender in Massachusetts.
NOW COME the parties in the above-captioned matter, the Division and First Home, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 2nd day of October, 2012
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts
THIS CONSENT ORDER WAS TERMINATED ON AUGUST 1, 2016.