offered by
Consent Order

Consent Order Sarah Grant Horvath

Date: 02/05/2013
Organization: Division of Banks
Docket Number: 2010-026-CO

Table of Contents


Suffolk, SS.

Docket No. 2010-026-CO


In the Matter of

Mortgage Loan Originator License No.: MLO21449

WHEREAS, SARAH GRANT HORVATH, a licensed mortgage loan originator under Massachusetts General Laws chapter 255F, section 2 and 209 CMR 41.00 et seq., has been advised of her 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 February 5, 2013, whereby, solely for the purpose of settling this matter, Sarah Grant Horvath 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 approved a mortgage loan originator license, license number MLO21449 for Sarah Grant Horvath to engage in the business of a mortgage loan originator on February 19, 2009;

WHEREAS, Sarah Grant Horvath’s mortgage loan originator license is approved but inactive in the Nationwide Mortgage Licensing System ("NMLS"), which inhibits Sarah Grant Horvath’s ability to originate residential mortgage loans legally in Massachusetts;

WHEREAS, Sarah Grant Horvath’s employing entity of record in the NMLS has at all relevant times been Mortgage Master, Inc., license no. MC0226, located at 102 Elm Street, Walpole, MA, 02081;

WHEREAS, on February 9, 2009, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination/inspection ("2009 examination/inspection") of the books, accounts, papers, records, and files that Mortgage Master, Inc. maintained;

WHEREAS, books the Division’s review of books and records during the 2009 examination/inspection revealed that Sarah Grant Horvath originated six residential mortgage loans on behalf of Mortgage Master, Inc. at times during which, according to her attested NMLS record, she was not licensed as a mortgage loan originator in Massachusetts; 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 Sarah Grant Horvath, and stipulate and agree as follows:

  1. On or before the thirtieth day after the effective date of this Consent Order, Sarah Grant Horvath shall pay six thousand dollars ($6,000.00) in satisfaction of an administrative penalty collected in consideration of Sarah Grant Horvath originating residential mortgage loans when she was not licensed as a mortgage loan originator in Massachusetts. Sarah Grant Horvath 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.
  2. Sarah Grant Horvath shall comply with all laws and regulations applicable to her conducting the business of a mortgage loan originator, including, but not limited to, Massachusetts General Laws chapter 255F, and the Division’s regulation 209 CMR 41.00. Such obligations shall include a duty to ensure strict compliance with Massachusetts General Laws chapter 255F, section 2, which states, in part: "No individual shall act as a mortgage loan originator with respect to any dwelling unless such person has first obtained a mortgage loan originator license from the commissioner…"
  3. This Consent Order shall become effective immediately upon the date of its issuance.
  4. The provisions of this Consent Order shall remain effective and enforceable except to the extent that, and until such time as the Commissioner or a court of competent jurisdiction modifies, terminates, suspends, or sets aside any provision of this Consent Order.
  5. 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.


Dated at Boston, Massachusetts, this 5th day of February, 2013

David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts