SETTLEMENT TERMS AND CONDITIONS. R.B.I. is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing provided for under Banking Law Sections 44 and 598. Therefore, in consideration of the promises and covenants set forth herein, the Settling Parties agree, as follows:
1. R.B.I. shall not:
a. Under any name or designation conduct or transact business in this state through the use of any website or domain name that has not been approved by the Superintendent;
b. Conduct or transact business under any name or designation other than that shown on its license or branch certificate;
c. Assign mortgage loan originators to locations that are not licensed by the Superintendent;
d. Engage in conduct prohibited by Part 38 of the General Regulations.
2. R.B.I. agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters relating to its mortgage business, including but not limited to:
a. Complying with the requirements of Article 12-D of the Banking Law and Part 38 of the Superintendent’s Regulations;
b. Assigning mortgage loan originators only to locations licensed by the Superintendent, and displaying the license for each mortgage loan originator working at such location;
c. Providing the proper oversight and supervision of each individual who becomes employed by, or affiliated as an independent contractor of or consultant for, R.B.I.; and
d. Maintaining books and records in a manner that will enable the Superintendent to determine whether R.B.I. is complying with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters.
3. R.B.I. agrees to pay a fine of $5,000. The Registrant further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.
SETTLEMENT TERMS AND CONDITIONS. WEM is willing to resolve the violations by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein:
1. WEM shall correct the violations cited herein and take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements relating to its mortgage business, including, but not limited to:
a. complying with the requirements of federal and state laws and regulations governing mortgage loan origination and credit extension activities;
b. ensuring that all documents, books and records for loans secured by 1-4 four family residential property located in New York are accurately maintained and preserved for inspection in compliance with the provisions of applicable laws and regulations. For the purpose of this Agreement, books and records include without limitation paper and electronic records, financial statements and account ledgers; and
c. notify the Department of relevant changes and information when appropriate.
2. WEM agrees to develop and implement a Compliance Management Program (“CMP”), designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters. The CMP shall, at a minimum: (i) include an enterprise wide risk assessment that adequately identify the inherent risks throughout WEM’s operations; (ii) designate an individual responsible for monitoring compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters; and (iii) establish a training program to ensure that WEM employees are knowledgeable about applicable laws and regulations, supervisory requirements and guidance letters and WEM’s internal policies and procedures governing its mortgage loan origination activities.
3. XXX agrees to pay a fine of $7,500 upon execution of this Agreement.
4. WEM further agrees that such payment will be made by wire transfer in accordance with the Department’s payment instruction.
5. Neither WEM, nor any of its parents, subsidiaries, or affiliates shall, collectively or individually, seek or accept, directly or indirectly, reimbursement or indemnification, including but not limited, to payment made pursuant to any insurance policy, or from any of its parents, subsidiaries, or affiliates, with regard to any or all of the am...
SETTLEMENT TERMS AND CONDITIONS. The Registrant is willing to resolve the violation cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein, the Settling Parties agree, as follows:
1. Registrant agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements relating to its mortgage business.
2. Registrant agrees to the payment of a fine in the amount of $7,500 in eleven equal installments, with the exception of the first installment payment which shall be in the amount of $1,000 upon the execution of this Agreement. The remaining installment payments of $650 are to be received by the 15th of each month until the fine is fully paid. The installments shall be made in electronic transfers, in immediately available funds, pursuant to transfer instructions received from the Department. Failure to make timely payment on any of the installments shall result in immediate revocation of Registrant’s registration.
3. Registrant further agrees that such payment will be made in immediately available funds in accordance with Department payment instructions.
SETTLEMENT TERMS AND CONDITIONS. MLD Mortgage is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein:
1. MLD Mortgage agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements relating to its mortgage business, including, but not limited to:
a. complying with the requirements of Article 12-D of the Banking Law, and Part 38 of the General Regulations;
b. ensuring that it will provide appropriate training for its employees regarding the utilization of any location to conduct regulated mortgage business, assumed name or any website, domain, or other name; and
c. not conducting or transacting New York regulated mortgage business using any website, domain, or other name that has not been approved by the Superintendent.
2. MLD Mortgage agrees to develop, written advertisement and compliance policies and procedures (“Compliance P&P”), designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters. If it already has developed Compliance P&P, it is required to review and update them so that they address the aforementioned concerns. The Compliance P&P shall, at a minimum: (i) designate an individual responsible for monitoring compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters; and (ii) establish a training program to ensure that MLD Mortgage and its MLO and non-MLO employees understand all applicable federal and state laws, regulations, supervisory requirements and guidance letters.
3. Within ninety (90) days from the effective date of this Agreement, MLD Mortgage agrees to submit a draft of its Compliance P&P to the Department.
4. Within thirty (30) days from receipt of non-objection or any comments from the Department, and after incorporation and adoption of all comments, MLD Mortgage agrees to submit a copy of its final Compliance P&P to the Department together with a letter from an authorized officer of MLD Mortgage indicating his/her approval of such policies and procedures.
5. MLD Mortgage agrees to pay a fine of $10,000 payable in ten (10) equal monthly installments as follows: $1,000 upon execution of this Agreement $1,000 each on or before the 15th day of ...
SETTLEMENT TERMS AND CONDITIONS. Total Group is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein:
1. Total Group agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements relating to its mortgage business, including, but not limited to:
a. complying with the requirements of Article 12-D of the Banking Law, and Part 38 of the General Regulations;
b. not conducting or transacting business in this state under any assumed name or designation using any website, domain, or other name that has not been approved by the Superintendent;
c. ensuring that its advertisements do not otherwise mislead consumers as to the terms and conditions of credit it is offering and that such advertisements disclose clearly and conspicuously the existence of material terms, conditions, and limitations relating to any advertised offer of credit; and
d. ensuring that it will not advertise terms of credit using footnotes, asterisks, small print and color contrasts that materially contradict or modify the principal message of its advertisements, and will disclose clearly and conspicuously all material information.
2. Total Group agrees to develop appropriate written advertisement policies and procedures designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidelines. The policies and procedures shall, at a minimum: (i) designate an individual responsible for monitoring compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidelines; (ii) include a listing of all applicable laws, regulations, and truth in advertising guidelines; (iii) establish a mechanism for ensuring that all applicable laws, regulations, and truth in advertising guidelines are met; and (iv) establish a training program to ensure that Total Group and its employees involved in preparing or approving advertisements understand all applicable federal and state laws, regulations, and truth in advertising guidelines.
3. Within ninety (90) days from the effective date of this Agreement, Total Group agrees to submit a draft of its advertisement policies and procedures to the Department.
4. Within thirty (30) days of receipt of non-objection or any com...
SETTLEMENT TERMS AND CONDITIONS. TMS is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under BL Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein:
1. TMS agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations and supervisory requirements relating to its mortgage business, including, but not limited to:
a. Complying with the requirements of BL Article 12-D and GRS Part 38; and
b. Ensuring that TMS does not conduct or transact New York regulated mortgage business using any website, domain or other name that has not been approved by the Superintendent.
2. TMS agrees to regularly review and update its written advertisement and compliance policies and procedures (collectively, “Compliance Policies and Procedures”) designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters, and to provide copies thereof to the Department whenever requested. The Compliance Policies and Procedures shall, at a minimum: (i) designate an individual responsible for monitoring compliance with all applicable federal and state laws, regulations, supervisory requirements and guidance letters; and (ii) establish a training program to ensure that TMS and its employees involved in loan origination understand all applicable federal and state laws, regulations, supervisory requirements and guidance letters.
3. Within thirty (30) days of the receipt of non-objection or any comments from the Department with respect to the draft version of TMS’s Compliance Policies and Procedures that is currently under review by the Department, and after incorporation and adoption of all comments, TMS agrees to submit a copy of its final Compliance Policies and Procedures to the Department together with a letter from an authorized officer of TMS indicating his/her approval of such Compliance Policies and Procedures.
4. TMS agrees to pay a fine of $25,000.
5. TMS further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.
SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by Xx. Xxxxxxxxxx that:
1. Xx. Xxxxxxxxxx is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waives his right to a hearing under Section 44 of the Banking law and 3 NYCRR 420.21 and any appeal on such violations. In consideration of the promises and covenants set forth herein, the Parties agrees as follows:
2. Xx. Xxxxxxxxxx agrees to take all necessary steps to ensure his compliance with all applicable federal and state laws, regulations and supervisory requirements relating to his mortgage business, including, but not limited to:
a. complying with the requirements of Articles 12-D and 12-E of the Banking Law and 3 NYCRR 420; and
b. ensuring that he will not copy, download or delete loan files or other information from the premises or automated system of any originating entity without prior authorization of such originating entity;
3. Xx. Xxxxxxxxxx agrees to pay a fine of $8,500 as a penalty. Xx. Xxxxxxxxxx further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.
4. Xx. Xxxxxxxxxx shall not accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of his affiliates, with regard to any or all of the amount payable pursuant to this Agreement.
5. Xx. Xxxxxxxxxx agrees that he will not claim, assert, or apply for a tax deduction or tax credit with regard to any United States federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.
SETTLEMENT TERMS AND CONDITIONS. The Parties agree to address SSJID’s concerns regarding the Regionalization Proposal and Updated Regionalization Proposal (referred to as the Updated Regionalization Proposal below) as follows:
1. In response to SSJID’s concerns regarding a lack of specificity summarized above, PG&E clarifies and confirms that its implementation of regionalization, as managed by the Regionalization Program Management Office (“PMO”) and its successor(s), will not include any work to oppose municipalization efforts by SSJID. For purposes of this Settlement Agreement between PG&E and SSJID, PMO is defined as the director of the PMO and that person’s direct reports.
2. PG&E shall ensure that PG&E and the PMO shall separate by work category and functionally any work or activity related to any PG&E efforts to oppose SSJID’s municipalization efforts from PG&E’s implementation of regionalization. The PMO shall document in writing the steps taken to implement and maintain this separation, and shall make such documentation available to the Commission or SSJID upon request.
3. SSJID acknowledges that PG&E (including Regional Vice Presidents, Regional Safety Directors, and/or their staff) may continue to respond to SSJID’s municipalization efforts in other appropriate forums and proceedings, separate and apart from the regionalization proceeding (A.20-06-011) and/or implementation of the Updated Regionalization Proposal (including any revisions or updates thereto) as managed by the PMO.
4. SSJID acknowledges that the Updated Regionalization Proposal does not include an explicit reference to municipalization efforts.
5. To the extent that a dispute arises regarding PG&E’s compliance with this Settlement Agreement, PG&E and SSJID agree to meet and confer to resolve said dispute informally, prior to undertaking any action before the Commission.
SETTLEMENT TERMS AND CONDITIONS. IT IS XXXXXX UNDERSTOOD AND AGREED by CMB and all subsidiaries, affiliates, successors, assigns, agents, representatives and employees, that:
1. CMB is willing to resolve the violations cited herein by entering into this Agreement and freely and voluntarily waive its right to a hearing under Sections 44 and 598 of the Banking Law and appeal on such violations. Therefore, in consideration of the promises and covenants set forth herein:
2. CMB agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations and supervisory requirements relating to its mortgage business, including, but not limited to:
a. ensuring that CMB obtains the prior approval of the Superintendent of any action that will result in the use a different domain name or website.
b. complying with the requirements of Article 12-D of the Banking Law and Part 38 of the General Regulations; and
3. CMB agrees to pay a fine of $10,000, as a penalty, to the Department no later than ten (10) days after the effective date of this Agreement. The payment shall be made by wire transfer in accordance with the Department’s payment instructions.
4. Neither CMB, nor any of its parents, subsidiaries, or affiliates shall, collectively or individually, seek or accept, directly or indirectly, reimbursement or indemnification including but not limited to payment made pursuant to any insurance policy, or from any of its parents, subsidiaries, or affiliates, with regard to any or all of the amount payable pursuant to this Agreement.
5. CMB agrees that it will not claim, assert, or apply for a tax deduction or tax credit with regard to any U.S. federal, state or local tax, directly or indirectly, for any portion of the penalty paid pursuant to this Agreement.
SETTLEMENT TERMS AND CONDITIONS. The Licensee is willing to resolve the violation cited herein by entering into this Agreement and freely and voluntarily waives its right to a hearing under Banking Law Sections 44 and 598 on such violations. Therefore, in consideration of the promises and covenants set forth herein, the Settling Parties agree, as follows:
1. Licensee agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements relating to its mortgage business.
2. Licensee agrees to pay a fine in the amount of $10,000 upon the execution of this Agreement.
3. Licensee further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.
4. Licensee agrees to file the 2020 VOOR no later than October 15, 2021.
