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WHEREAS, JEFFREY PAUL CHALMERS ("Jeffrey Chalmers" 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 October 21, 2010, whereby, solely for the purpose of settling this matter, Jeffrey Chalmers 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, Jeffrey Chalmers 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 MLO76803, to Jeffrey Chalmers to engage in the business of a mortgage loan originator on or about October 31, 2008;
WHEREAS, on or about April 28, 2010, based upon the findings of a 2010 investigation/inspection of certain activity involving Jeffrey Chalmers, the Division issued a FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST (the "Temporary Order"), Docket No. 2010-199, against Jeffrey Chalmers and alleged a failure to comply with state and federal laws, rules, regulations and regulatory bulletins governing the conduct of a licensed loan originator in Massachusetts;
WHEREAS, on or about May 6, 2010, Jeffrey Chalmers filed a response to the Temporary Order and by his response, Jeffrey Chalmers further reserved his right to proceed to an administrative hearing in accordance with Massachusetts General Laws chapter 30A;
WHEREAS, on or about May 26, 2010, Jeffrey Chalmers appeared at the Division's offices for an informal conference to discuss the matters raised by the Temporary Order;
WHEREAS, Jeffrey Chalmers agrees to enter this Consent Order solely for the purpose of settling this matter and without admitting any allegations or implications of fact or the existence of any violations of applicable state and federal statutes or rules;
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Temporary Order; and
WHEREAS, in recognition of the Division and Jeffrey Chalmers having reached the following mutual agreement under this Consent Order to resolve the matters raised by the Temporary Order, the Commissioner has terminated the Temporary Order on this 21st day of October, 2010.
NOW COME the parties in the above-captioned matter, the Division and Jeffrey Chalmers, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of October, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts