Regulatory Alerts2016-12-16
Added · Updated
Bulletin 2756 - December 16, 2016
The Connecticut Department of Banking entered into Consent Orders with Home Point Financial Corporation and Shamrock Financial Corporation for violations of Section 36a-490(b) of the Connecticut General Statutes. Both entities failed to file a change of address for their branch offices with the Nationwide Multistate Licensing System and Registry at least 30 calendar days prior to the change. Home Point Financial Corporation also failed to provide a required bond rider or endorsement to its surety bond. As part of the orders, each company paid a $500 civil penalty.
State of Connecticut Department of Banking
The Department of Banking News Bulletin
Bulletin # 2756 - Week Ending December 16, 2016
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 Jorge L. Perez, Banking Commissioner, Department of Banking, 260 Constitution Plaza, Hartford, CT 06103-1800. Written comments will be considered only if they are received within ten days from the date of this bulletin.
CONSUMER CREDIT DIVISION ACTIVITY
Consent Orders
On December 5, 2016, the Commissioner entered into a Consent Order with Home Point Financial Corporation (NMLS # 7706) (“Home Point”), Ann Arbor, Michigan. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Home Point failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its branch office at least 30 calendar days prior to such change and failed to provide a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner, in violation of Section 36a-490(b) of the Connecticut General Statutes. As part of the Consent Order, Home Point paid $500 as a civil penalty.
On December 8, 2016, the Commissioner entered into a Consent Order with Shamrock Financial Corporation (NMLS # 2227) (“Shamrock Financial”), East Providence, Rhode Island. The Consent Order was based on an investigation by the Consumer Credit Division. As a result of such investigation, the Commissioner alleged that Shamrock Financial failed to file with the Nationwide Multistate Licensing System and Registry a change of address of its branch office at least 30 calendar days prior to such change, in violation of Section 36a-490(b) of the Connecticut General Statutes. As part of the Consent Order, Shamrock Financial paid $500 as a civil penalty.
Dated: Tuesday, December 20, 2016
Jorge L. Perez Banking Commissioner