Bulletin 2564 - April 12, 2013

State of Connecticut Department of Banking

The Department of Banking News Bulletin

Bulletin # 2564 - Week Ending April 12, 2013

This bulletin constitutes the only official notification you will receive from this office concerning any of the following applications. Any observations you may have are solicited. Any comments should be in writing to Howard F. Pitkin, Banking Commissioner, at the Connecticut Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800 or via E-mail . Written comments will be considered only if they are received within ten days from the date of this bulletin.

STATE BANK ACTIVITY

Branch Activity

Section 36a-145 of the Connecticut General Statutes requires certain applications for a branch, or for a limited branch at which loans will be made, be accompanied by a plan detailing how adequate services to meet the banking needs of all community residents will be provided.  Plans are submitted when such applications are filed and are available for public inspection and comment at this Department for a period of 30 days.  Questions concerning branch activity should be directed to the Financial Institutions Division, (860) 240-8180 .

Date

Bank

Location

Activity

04/08/13

Farmington Bank

Farmington

957 Main Street

East Hartford, CT  06108

Notice of Intent

Not to Disapprove

04/09/13

Savings Bank of Danbury

Danbury

• 29 South Main Street

West Hartford, CT  06107

Filed

04/09/13

Savings Bank of Danbury

Danbury

• 524 Hopmeadow Street

Simsbury, CT  06070

Filed

04/09/13

Savings Bank of Danbury

Danbury

• 358 Scott Swamp Road

Farmington, CT  06032

Filed

04/09/13

Savings Bank of Danbury

Danbury

• 821 North Main Street Ext.

Wallingford, CT  06492

Filed

*Loan Production Office

CONSUMER CREDIT DIVISION ACTIVITY

Notice of Intent to Issue Order to Cease and Desist and Notice of Intent to Issue Order Imposing Civil Penalty

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: Compass Mortgage, LLC (NMLS # 517460) (“Respondent”), Clinton, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual and quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: Mortgage Assistance Company, LLC (NMLS # 2754) (“Respondent”), Plainville, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual and quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: New England Residential Finance, LLC (NMLS # 815059) (“Respondent”), Plantsville, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: P.I.C. Property Funding Corp (NMLS # 17541) (“Respondent”), Syosset, New York.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: Quantum Mortgage Corporation (NMLS # 59626) (“Respondent”), White Plains, New York.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual and quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

On March 22, 2013, the Commissioner issued a Notice of Intent to Issue Order to Cease and Desist, Notice of Intent to Impose Civil Penalty and Notice of Right to Hearing (“Notice”) in the Matter of: Xpress Loan Center, LLC (NMLS # 99009) (“Respondent”), New Canaan, Connecticut.  The Notice was the result of an investigation by the Consumer Credit Division.  The Notice alleges that Respondent failed to timely file certain annual and quarterly information required on the Nationwide Mortgage Licensing System and Registry, in violation of Section 36a-534b(c)(3) of the 2012 Supplement to the General Statutes in effect prior to October 1, 2012, and Section 36a-534b(c)(3) of the Connecticut General Statutes.  Respondent was afforded an opportunity to request a hearing on the allegations set forth in the Notice.

Dated:  Tuesday, April 16, 2013

Howard F. Pitkin

Banking Commissioner