|Organization:||Division of Banks|
Consent Order Lucio Avila
Table of Contents
Lucio Avila - Consent Order
COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2009-148-CO
In the Matter of
Mortgage Loan Originator License No. MLO21170
WHEREAS, LUCIO AVILA, a licensed mortgage loan originator under Massachusetts General Laws chapter 255F, section 2 and 209 CMR 41.00 et seq., has been advised of his right to Notice and Hearing pursuant to Massachusetts General Laws chapter 30A, section 10 and chapter 255F, section 11(b), 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 21, 2010 whereby, solely for the purpose of settling this matter, Lucio Avila 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, the Commissioner initially issued an approved mortgage loan originator license, license number MLO21170 to Lucio Avila to engage in the business of a mortgage loan originator on or about July 7, 2008;
WHEREAS, beginning on December 22, 2008, and ending on June 23, 2009, Lucio Avila's Massachusetts mortgage loan originator license was in an inactive status because he was not properly sponsored in Massachusetts; and he was therefore not authorized to originate mortgage loans in the Commonwealth during that period of time;
WHEREAS, on December 11, 2008, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination/inspection (the "2008 examination/inspection") of the books, accounts, papers, records, and files maintained by The Mortgage Group, Ltd., license no. MB4627, located at 1107 Pleasant Street, Fall River, MA, 02723;
WHEREAS, books and records reviewed by the Division during the 2008 examination/inspection revealed that Lucio Avila originated two (2) Massachusetts residential mortgage loans on behalf of The Mortgage Group, Ltd. at times during which his mortgage loan originator license was inactive; 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 Lucio Avila, and stipulate and agree as follows:
- Lucio Avila shall immediately cease engaging in the activities of a mortgage loan originator as defined in General Law chapter 255F, section 1, for any entity other than his Employing Entity through whom Lucio Avila is sponsored under the NMLS.
- Within thirty (30) days from the effective date of this Consent Order, Lucio Avila shall submit a payment of two thousand dollars ($2,000.00) in satisfaction of an administrative penalty collected in consideration of Lucio Avila originating residential mortgage loans during a period of time when his mortgage loan originator license was inactive. Lucio Avila shall remit payment in full of the amount indicated above, payable to the "Commonwealth of Massachusetts," with the executed copy of the Consent Agreement, to the Office of the Commissioner of Banks, One South Station, 3rd Floor, Boston, Massachusetts 02110. The Division shall remit the payment for deposit into the General Fund of the Commonwealth.
- Lucio Avila shall comply with all laws and regulations applicable to his conducting the business of a mortgage loan originator, including, but not limited to, Massachusetts General Laws chapter 255F, and the Division's regulations 209 CMR 41.00. Such obligations shall necessarily include a duty to ensure compliance with the Division's licensing requirements including the Division's regulation 209 CMR 41.06(3), which prohibits mortgage loan originators from originating mortgage loans when their licenses are inactive.
- This Consent Order shall become effective immediately upon the date of its issuance.
- The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as, any provisions of this Consent Order shall have been modified, terminated, suspended, or set aside by the Commissioner or upon an order of a court of competent jurisdiction.
- This Consent Order and the Consent Agreement are the complete documents that represent the resolution of this matter. There are no other agreements, promises, representations, or warranties other than those set forth in this Consent Order and the Consent Agreement.
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of January, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts