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In the Matter of
Mortgage Broker License No. MB3208, et al.
The Commissioner of Banks ("Commissioner") having determined that QUOTEMEARATE.COM, INC. ("Quotemearate" or the "Corporation"), with its main business office located at 10333 Harwin Drive, Suite 425, Houston, Texas, has engaged, or is engaged 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).
FINDINGS OF FACT
A. Undisclosed Points and Fees
B. Commingling Consumer Funds in the Operating Accounts Maintained for the Corporation
C. Engaging in the Mortgage Broker Business in Massachusetts from a Network of Unlicensed Locations
D. Engaging in the Mortgage Broker Business in Massachusetts Under the Direction of a Network of Unapproved Branch Managers
E. Engaging Unauthorized Individuals to Originate Mortgage Loans in Massachusetts
F. Failure to Notify the Commissioner of the closing of Massachusetts office locations
CONCLUSIONS OF LAW
ORDER TO CEASE AND DESIST
IT IS FURTHER ORDERED, that Quotemearate, its officers, directors, employees, and their successors or assigns, take the following affirmative actions:
By ORDER AND direction of the Commissioner of Banks.
Dated at Boston, Massachusetts, this 27th day of March, 2006.
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts