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The Commissioner of Banks ("Commissioner") having determined that 5K MORTGAGE CORPORATION, LLC, ANTHONY J. ANDERSEN, and LAURA ANDERSEN (collectively, "5K Mortgage Corporation" or the "Corporation"), located at 28 Sylvan Lane, Florence, Massachusetts, 01062 has engaged in, or is engaging in, or is about to engage in, acts or practices constituting violations of Massachusetts General Laws chapter 255E and applicable regulations found at 209 CMR 42.00 et seq., hereby issues the following FINDINGS OF FACT AND TEMPORARY ORDER TO CEASE AND DESIST ("Temporary Order") pursuant to General Laws chapter 255E, section 7(b).
A. FINDINGS OF FACT
(i) Felony Indictments/Convictions Affecting a Determination of the Licensee's Financial Responsibility, Character, Reputation, Integrity and General Fitness to Engage in the Licensed Business as to Anthony J. Andersen
Upon the filing of an application for a license, if the commissioner finds that the financial responsibility, character, reputation, integrity and general fitness of the applicant, and of the partners or members thereof if the applicant is a partnership or association, and of the officers, directors and principal employees if the applicant is a corporation, are such as to warrant belief that the business will be operated honestly, fairly, soundly and efficiently in the public interest consistent with the purposes of this chapter, he shall thereupon issue the applicant a license to engage in the business of a mortgage lender or mortgage broker. If the commissioner shall not so find, he shall not issue a license and he shall notify the applicant of the denial.
The commissioner may suspend or revoke any license issued pursuant to this chapter if said commissioner finds that: (i) the licensee has violated any provision of this chapter or any rule or regulation adopted hereunder, or any other law applicable to the conduct of its business; or (ii) any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the commissioner in refusing to issue such license.
(ii) Felony Indictments/Convictions Affecting a Determination of the Licensee's Financial Responsibility, Character, Reputation, Integrity and General Fitness to Engage in the Licensed Business as to Laura Andersen
Ms. Andersen knowingly and willfully made materially false, fraudulent statements and representations in an interview conducted on February 14, 2006 by Special Agents of the Federal Bureau of Investigation and the Criminal Investigation Division of the Internal Revenue Service, U.S. Department of the Treasury. To wit, Ms. Andersen falsely stated, among other things, that she never signed any type of mortgage-related paperwork on behalf of anyone else and that Mr. Andersen had never requested that she forge signatures or falsely complete any part of any mortgage application package.
(iii)Failure to Timely Notify the Division of the Occurrence of Significant Developments
A Licensee shall notify the Commissioner immediately, and in writing within five business days, of the occurrence of any of the following significant developments: . . . (b) Criminal felony indictment or conviction of any of the Licensee's officers, directors, principal stockholders, or affiliates.
B. CONCLUSIONS OF LAW
C. ORDER TO CEASE AND DESIST
After taking into consideration the FINDINGS OF FACT and CONCLUSIONS OF LAW stated herein, it is hereby:
All information on file as of the date of submission regarding 5K Mortgage Corporation's open application list, including but not limited to, the following: The names of all individuals from whom 5K Mortgage Corporation has accepted an application for a residential mortgage loan; the applicants' addresses and telephone numbers; the amount of all prepaid loan fees submitted by the customer; the amount of each loan; application status (i.e. filed, submitted to lenders, cleared to close, etc.); scheduled closing dates; rate lock status; and a list identifying the applicable broker(s) or lender(s) with whom the applicants' application was placed. The latter list should include telephone numbers of contact persons familiar with the Corporation's submitted loans.
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS
Dated at Boston, Massachusetts, this 25th day of January, 2008.
By: Steven L. Antonakes
Commissioner of Banks