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COMMONWEALTH OF MASSACHUSETTS
COMMISSIONER OF BANKS
MORTGAGE LENDER AND
Docket No. 2010-249
FINDINGS OF FACT AND
TEMPORARY ORDER TO
CEASE AND DESIST
NOTICE OF ADMINISTRATIVE
In the Matter of
VILLAGE CAPITAL AND INVESTMENT, LLC
D/B/A VILLAGE HOME MORTGAGE
Mortgage Company License No(s): MC4562 and MC5375
The Commissioner of Banks ("Commissioner") having determined that VILLAGE CAPITAL AND INVESTMENT, LLC D/B/A VILLAGE HOME MORTGAGE., ("Village Home Mortgage" or the "Company"), located at 700 East Gate Drive, Suite 400, Mount Laurel, New Jersey, 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 TEMPORARY ORDER TO CEASE AND DESIST AND NOTICE OF ADMINISTRATIVE PENALTY ("Order") pursuant to General Laws chapter 255E, section 7(b) and General Laws chapter 255E, section 11.
FINDINGS OF FACT
Unfair methods of competition and unfair or deceptive acts or practices in the conduct of any trade or commerce are hereby declared unlawful.
It is an unfair or deceptive act or practice for a mortgage broker or lender to make any representation or statement of fact in an advertisement if the representation or statement is false or misleading or has the tendency or capacity to be misleading.
It is a prohibited act or practice for a mortgage broker or mortgage lender to make false promises to influence, persuade or induce a consumer to sign a mortgage loan application or mortgage loan documents.
CONCLUSIONS OF LAW
ORDER TO CEASE AND DESIST AND NOTICE OF ADMINISTRATIVE PENALTY
BY ORDER AND DIRECTION OF THE COMMISSIONER OF BANKS.
Dated at Boston, Massachusetts, this 20th day of July, 2010
By: Steven L. Antonakes
Commissioner of Banks
Commonwealth of Massachusetts