Consent Order - Central Mortgage Funding, LLC d/b/a Supreme Team Lending

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IN THE MATTER OF: * * CENTRAL MORTGAGE * FUNDING, LLC * CONSENT ORDER d/b/a SUPREME TEAM LENDING * NMLS # 1699966 * * (“Central Mortgage”) * *

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WHEREAS, the Banking Commissioner (“Commissioner”) is charged with the administration of Part I of Chapter 668, Sections 36a-485 to 36a-534b, inclusive, of the Connecticut General Statutes, “Mortgage Lenders, Correspondent Lenders, Brokers and Loan Originators”; WHEREAS, Central Mortgage is a Michigan limited liability company with a main address of 29777 Telegraph Road, Suite 4500, Southfield, Michigan, that is currently licensed as a mortgage correspondent lender under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes; WHEREAS, Section 36a-490(b)(2) of the Connecticut General Statutes requires that a mortgage correspondent lender licensee file with the Nationwide Multistate Licensing System and Registry (“NMLS”) an addition of a fictitious name at least thirty (30) calendar days prior to such change, and provide directly to the Commissioner a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects the fictitious name; WHEREAS, Central Mortgage failed to file with NMLS an advance change notice to add the use of the fictitious name “Supreme Team Lending”, at least thirty (30) calendar days prior to such change

• 2 - and failed to provide a bond rider or endorsement or addendum, as applicable, to the surety bond on file with the Commissioner; WHEREAS, the Commissioner believes that such allegation would support initiation of proceedings against Central Mortgage, which proceedings would constitute a “contested case” within the meaning of Section 4-166(4) of the Connecticut General Statutes. Section 4-177(c) of the Connecticut General Statutes and Section 36a-1-55(a) of the Regulations of Connecticut State Agencies provide that a contested case may be resolved by consent order, unless precluded by law; WHEREAS, Central Mortgage, through its execution of this Consent Order, voluntarily agrees to waive its procedural rights, including a right to a notice and an opportunity for a hearing as it pertains to the allegation set forth herein, voluntarily agrees to consent to the entry of the sanction imposed below and voluntarily waives its right to seek judicial review or otherwise challenge or contest the validity of this Consent Order; WHEREAS, Central Mortgage acknowledges that it has had the opportunity to consult with and be represented by independent counsel in negotiating and reviewing this Consent Order and executes this Consent Order freely; WHEREAS, Central Mortgage acknowledges that this Consent Order is a public record and is a reportable event for purposes of NMLS, as applicable; AND WHEREAS, Central Mortgage herein represents to the Commissioner that it has reviewed and updated its internal policies, procedures and controls to ensure that Central Mortgage will file any change it makes to its name or any address of any office specified on its most recent filing with NMLS at least thirty (30) calendar days prior to such change and, in connection with such change, Central Mortgage will provide directly to the Commissioner a bond rider or endorsement, or addendum, as applicable, to the surety bond on file with the Commissioner that reflects such change.

• 3 - CONSENT TO ENTRY OF SANCTION WHEREAS, Central Mortgage, through its execution of this Consent Order, consents to the Commissioner’s entry of a Consent Order imposing the following sanction: No later than the date this Consent Order is executed by Central Mortgage, it shall remit to the Department of Banking by electronic funds transfer, cashier’s check, certified check or money order made payable to “Treasurer, State of Connecticut”, the sum of Five Hundred Dollars ($500) as a civil penalty. CONSENT ORDER NOW THEREFORE, the Commissioner enters the following:

1. The Sanction set forth above be and is hereby entered;
2. Upon issuance of this Consent Order by the Commissioner, this matter will be resolved and the Commissioner will not take any future enforcement action against Central Mortgage based upon the allegation contained herein; provided that issuance of this Consent Order is without prejudice to the right of the Commissioner to take enforcement action against Central Mortgage based upon a violation of this Consent Order or the matters underlying its entry, if the Commissioner determines that compliance with the terms herein is not being observed or if any representation made by Central Mortgage and reflected herein is subsequently discovered to be untrue;
3. Central Mortgage shall not take any action or make or permit to be made any public statement, including in regulatory filings, any proceeding in any forum or otherwise, denying, directly or indirectly, any allegation referenced in this Consent Order or create the impression that this Consent Order is without factual basis. Except as specifically provided herein, Central Mortgage shall not take any position in any proceeding brought by or on behalf of the Commissioner, or to which the Commissioner is a party, that is inconsistent with any part of this Consent Order. Nothing in this provision affects Central Mortgage’s (i) testimonial obligations, or (ii) right to take any legal or factual position that may contradict an allegation in this Consent Order in litigation or other legal proceedings in which the Commissioner is not a party;
4. Subject to the foregoing, and so long as this Consent Order is promptly disclosed by Central Mortgage and its control persons, as applicable, on NMLS, nothing in the issuance of this Consent Order shall adversely affect the ability of Central Mortgage to apply for or obtain licenses or renewal licenses under Part I of Chapter 668, Sections 36a-485 et seq., of the Connecticut General Statutes, provided all applicable legal requirements for such license are satisfied and the terms of this Consent Order are followed;
5. This Consent Order shall be binding upon Central Mortgage and its successors and assigns; and

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6. This Consent Order shall become final when issued. /s/___________________________________ Issued at Hartford, Connecticut Jorge L. Perez this 28th day of September 2023. Banking Commissioner

• 5 - I, Lawrence Karmo, state on behalf of Central Mortgage Funding, LLC d/b/a Supreme Team Lending, that I have read the foregoing Consent Order; that I know and fully understand its contents; that I am authorized to execute this Consent Order on behalf of Central Mortgage Funding, LLC d/b/a Supreme Team Lending; that Central Mortgage Funding, LLC d/b/a Supreme Team Lending agrees freely and without threat or coercion of any kind to comply with the sanction entered and terms and conditions ordered herein; and that Central Mortgage Funding, LLC d/b/a Supreme Team Lending voluntarily agrees to enter into this Consent Order, expressly waiving the procedural rights set forth herein as to the matters described herein. By: /s/_____________________________________ Name: Lawrence Karmo Title: Branch Manager Central Mortgage Funding, LLC d/b/a Supreme Team Lending State of: Michigan County of: Oakland On this the 23rd day of August 2023, before me, Rodney Morrow, the undersigned officer, personally appeared Lawrence Karmo, who acknowledged himself/herself to be the Branch Manager of Central Mortgage Funding, LLC d/b/a Supreme Team Lending, a member managed/manager managed limited liability company, and that he/she as such position, being authorized so to do, executed the foregoing instrument for the purposes therein contained, by signing the name of the limited liability company by himself/herself as Branch Manager. In witness whereof I hereunto set my hand. /s/________________________________ Notary Public Date Commission Expires: 2/5/2028