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In the Matter of
AEGIS WHOLESALE CORPORATION
Mortgage Lender License No(s). ML2298, et al.
and its affiliate,
AEGIS FUNDING CORPORATION
Mortgage Lender License No(s) ML2303, and
The Commissioner of Banks ("Commissioner") having determined that (a) AEGIS WHOLESALE CORPORATION, ("Aegis Wholesale"); and (b) AEGIS FUNDING CORPORATION ("Aegis Funding"); both of which are located at 3250 Briarpark Drive, Houston, Texas, 77042, have engaged in, or are engaging in, or are 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).
FINDINGS OF FACT
A. The Parties
Aegis Mortgage Corporation
Aegis Wholesale Corporation
Aegis Funding Corporation
B. Failure to Fund Certain Residential Mortgage Loan Obligations in Massachusetts
C. Impairment of Lender Lines of Credit Used to Fund the Aegis Corporations' Lending Operations and Failure to Maintain Minimum Standards of Financial Responsibility for Holding a Mortgage Company License in Massachusetts
CONCLUSIONS OF LAW
ORDER TO CEASE AND DESIST
After taking into consideration the FINDINGS OF FACT and CONCLUSIONS OF LAW stated herein, it is hereby:
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 8th day of August, 2007.
By: Steven L. Antonakes
Commissioner of Banks