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This order was terminated on October 1, 2012.
COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
Docket No. 2010-197
In the Matter of
THE MORTGAGE GROUP, LTD.
Fall River, Massachusetts
Mortgage Broker License No(s). MB4627 et al.
WHEREAS, THE MORTGAGE GROUP, LTD., Fall River, Massachusetts ("Mortgage Group" or the "Corporation"), a licensed mortgage broker under Massachusetts General Laws chapter 255E, section 2, has been advised of its right to Notice and Hearing pursuant to General Laws chapter 255E, section 7(a), 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 April 21 2010, whereby, solely for the purpose of settling this matter, and without admitting any allegations or implications of fact or the existence of any violation of state or federal laws and regulations governing the conduct and operation of a mortgage broker, Mortgage Group agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, an examination/inspection of Mortgage Group was conducted pursuant to General Laws chapter 255E, section 8, as of December 11, 2008, to assess the Corporation's level of compliance with applicable Massachusetts statutes and the Division's regulations governing the conduct of those engaged in the business of a mortgage broker in the Commonwealth; and
WHEREAS, the Report of Examination/Inspection (the "Report") issued pursuant to the Division's examination/inspection of Mortgage Group as of December 11, 2008 (the "2008 examination/inspection") alleged substantial non-compliance with applicable state and federal statutes, rules, and regulations governing the conduct of those engaged in the business of a mortgage broker in Massachusetts.
NOW COME the parties in the above-captioned matter, the Division and Mortgage Group, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 21st day of April, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts