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WHEREAS, HOME LOAN CENTER, INC., D/B/A LENDING TREE LOANS, Irvine, California ("Home Loan Center" or the "Corporation"), a licensed mortgage lender and mortgage broker under Massachusetts General Laws chapter 255E, section 2, has been advised of its 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 January 30, 2012, whereby, solely for the purpose of settling this matter, Home Loan Center agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, an examination/inspection of Home Loan Center was conducted pursuant to General Laws chapter 255E, section 8, as of March 2, 2009, to assess the Corporation's level of compliance with applicable Massachusetts and federal statutes and the Division's and federal regulations governing the conduct of those engaged in the business of mortgage lender and mortgage broker in the Commonwealth; and
WHEREAS, the Report of Examination/Inspection (the "Report") issued pursuant to the Division's examination/inspection of Home Loan Center as of March 2, 2009 alleged non-compliance with applicable state and federal statutes, rules, and regulations governing the conduct of those engaged in the business of a mortgage lender and mortgage broker in Massachusetts.
NOW COME the parties in the above-captioned matter, the Division and Home Loan Center, and pursuant to the Consent Agreement stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 30th day of January, 2012
David J. Cotney
Commissioner of Banks