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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2009-123-CO
In the Matter of
STEPHEN A. SUECH
Mortgage Loan Originator License No.: MLO4255
WHEREAS, Stephen A. Suech, 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 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 November 30, 2009, whereby, solely for the purpose of settling this matter, Stephen A. Suech 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 a mortgage loan originator license, license number MLO4255 to Stephen Suech to engage in the business of a mortgage loan originator on or about October 31, 2008;
WHEREAS, the Division through the Commissioner, also has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a mortgage broker in Massachusetts pursuant to Massachusetts General Laws chapter 255E, section 2;
WHEREAS, Stephen A. Suech formerly held a mortgage broker license, license no. MB3644, under Massachusetts General Laws chapter 255E, section 2, as a sole proprietor operating as Stephen A. Suech, d/b/a Realmarket Mortgage Solutions ("RealMarket Mortgage Solutions");
WHEREAS, on March 4, 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 RealMarket Mortgage Solutions;
WHEREAS, the Division's Report of Examination/Inspection on Consumer Compliance (the "Report"), issued as of March 4, 2008, presented the findings of the 2008 examination/inspection and alleged significant failures to comply with applicable state and federal laws, rules, regulations, and regulatory bulletins governing the conduct of those engaged in the business of a mortgage broker in Massachusetts;
WHEREAS, Stephen A. Suech opted not to renew the Massachusetts mortgage broker license for RealMarket Mortgage Solutions for the calendar year 2009 and that such license expired as of December 31, 2008; and
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Report.
NOW COME the parties in the above-captioned matter, the Division and Stephen A. Suech, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 30th day of November, 2009
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts