The State Organization Index provides an alphabetical listing of government organizations, including commissions, departments, and bureaus.
Top-requested sites to log in to services provided by the state
WHEREAS VILLAGE CAPITAL AND INVESTMENT, LLC D/B/A VILLAGE HOME MORTGAGE, ("Village Capital and Investment" or the "Company"), with its main business office located at 700 East Gate Drive, Suite 520, Mount Laurel, New Jersey, 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 July 18, 2011, whereby, solely for the purpose of settling this matter, Village Capital and Investment agrees to the issuance of this CONSENT ORDER ("Consent Order") by the Commissioner of Banks ("Commissioner");
WHEREAS, the Division of Banks ("Division"), through the Commissioner, has jurisdiction over the licensing and regulation of persons and entities engaged in the business of a mortgage lender and mortgage broker in Massachusetts pursuant to Massachusetts General Laws chapter 255E, section 2;
WHEREAS Village Capital and Investment is, and at all relevant times, has been a foreign corporation conducting business in the Commonwealth of Massachusetts. Village Capital and Investment's main office is located at 700 East Gate Drive, Suite 400, Mount Laurel, New Jersey;
WHEREAS, on July 20, 2010 the Division issued a Temporary Order to Cease and Desist and Notice of Administrative Penalty, Docket No. 2010-249 (the "2010 Order") against Village Capital and Investment based upon information reflected in a consumer solicitation received by Massachusetts consumers from Village Capital and Investment.
WHEREAS, the 2010 Order required Village Capital and Investment required the Company to cease mailing Massachusetts consumers any solicitations that contained any representations or statements that could be considered false, misleading, or have the tendency or capacity to be misleading including solicitations that had the tendency to make false promises to influence, persuade or induce a consumer to sign a mortgage loan application
WHEREAS, on May 25, 2011, pursuant to General Laws chapter 255E, section (7)(b) and General Laws chapter 255E, section 11 the Commissioner issued a Temporary Order to Cease and Desist and Notice of Administrative Penalty ("Order"), Docket No. 2011-019 based upon information reflected in two consumer solicitations received by Massachusetts consumers from Village Capital and Investment subsequent to the issuance of the 2010 Order;
WHEREAS, the parties now seek to resolve by mutual agreement, the matters identified in the Order;
WHEREAS, without this Consent Order constituting an admission by Village Capital and Investment of any allegations made or implied by the provisions of the Order; solely for the purpose of settlement of all alleged violations without protracted administrative proceedings and judicial review, Village Capital and Investment hereby waives its right to complete the hearing process relative to this proceeding and affirms that it is willing to take all necessary action as set forth in this Consent Order; and
WHEREAS, in recognition of the Division and Village Capital and Investment having reached the following mutual agreement under this Consent Order to fully resolve the matters raised by the Order, the Commissioner has terminated the Order on this 18th day of July, 2011.
NOW COME the parties in the above-captioned matter, the Division and Village Capital and Investment, and stipulate and agree as follows:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 18th day of July, 2011
David J. Cotney
Commissioner of Banks
Commonwealth of Massachusetts