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WHEREAS, JON HOWARD SICCO ("Jon Sicco" 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 May 21, 2010, whereby, solely for the purpose of settling this matter, Jon Sicco 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, Jon Sicco 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 MLO16371 to Jon Sicco to engage in the business of a mortgage loan originator on or about October 23, 2008;
WHEREAS, on or about September 19, 2009 pursuant to the authority granted under Massachusetts General Laws chapter 255F, section 14, the Division commenced an Investigation (the "2009 Investigation") of the books, accounts, papers, records, and files maintained by Jon Sicco in response to an inquiry received by the Division's Consumer Assistance Unit;
WHEREAS, the findings of the Division's 2009 Investigation raised serious concerns relating to Jon Sicco's 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 February 26, 2010, Jon Sicco appeared at the Division's offices for an informal conference to discuss the matters raised in the Investigation; and
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified during the Investigation.
NOW COME the parties in the above-captioned matter, the Division and Jon Sicco, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of May, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts