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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:
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