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WHEREAS, SUSAN MOORE KELLY (“Susan Kelly”), 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, 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, 2014, whereby, solely for the purpose of settling this matter, Susan Kelly 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, Susan Kelly’s employing entity of record in the National Mortgage Licensing System (“NMLS”) from June 18, 2008 to the present is William Raveis Mortgage, LLC, NMLS ID No. 2630, located in Shelton, Connecticut;
WHEREAS, pursuant to General Laws chapter 255F, section 4(b), a mortgage loan originator may be employed by no more than one entity;
WHEREAS, on October 28, 2010, pursuant to the authority granted under Massachusetts General Laws chapter 255E, section 8, the Division commenced an examination/inspection ("examination/inspection") of the books, accounts, papers, records, and files maintained by Covenant Mortgage, LLC, Westford, Massachusetts, license no. MC2963;
WHEREAS, the Division’s review of books and records during the examination/inspection revealed that Susan Kelly originated two (2) Massachusetts residential mortgage loan applications on behalf of Covenant Mortgage, LLC at a time during which, according to her NMLS record, she was sponsored by William Raveis Mortgage, LLC; 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 Susan Kelly, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of January, 2014
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts