Common use of SETTLEMENT TERMS AND CONDITIONS Clause in Contracts

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. R.B.I. Without admitting or denying the Department’s findings, the Applicant 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 598Agreement. 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. The Applicant agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying complying with the requirements of Article 12-D of the Banking Law Law, and Part 38 of the Superintendent’s Regulations;General Regulations of the Banking Board; and b. Assigning ensuring that it will submit an application and receive approval from the Department prior to utilizing any domain name and websites to conduct regulated mortgage loan originators only to locations licensed by the Superintendent, and displaying the license for each mortgage loan originator working at such location;origination activity; and c. Providing ensuring that it will not activate any websites prior to receiving approval from 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.Department; and d. Maintaining books ensuring that its advertisements do not mislead consumers as to whether the Applicant can fund a mortgage loan or make a mortgage loan; e. ensuring that it does not enter into an employment or otherwise engage any employee or independent contractor who has an employment or independent contractor relationship with any other mortgage banker, mortgage broker or exempt organization without the written approval of the Superintendent; and f. ensuring that its advertisements do not mislead consumers as to the terms and records in a manner 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 g. ensuring that it will enable not advertise terms of credit using footnotes, asterisks, small print and color contrasts that materially contradict or modify the Superintendent principal message of its advertisements, and will disclose clearly, and conspicuously all material information. 2. The Applicant agrees to determine whether R.B.I. is complying develop appropriate written advertisement policies and procedures designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirementsrequirements and guidance letters. 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 guidance letters; and (ii) establish a training program to ensure that the Applicant and its employees involved in preparing or approving advertisements understand all applicable federal and state laws, regulations, supervisory requirements and guidance letters. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, the Applicant agrees to submit a draft of its advertisement policies and procedures to the Department. 4. Within one hundred twenty (120) days from the effective date of this Agreement, the Applicant agrees to submit a copy of its final advertisement policies and procedures to the Department together with a letter from an authorized officer of the Applicant indicating his/her approval of such policies and procedures. 5. The Applicant further agrees to provide copies of all advertisements run by it for the twelve (12) month period following the effective date of this Agreement. 6. The Applicant agrees to pay a fine of $5,000$ 10,000 payable upon execution of this Agreement 7. The Registrant Applicant further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Contour 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. Contour shall not: a. Under any name or designation conduct or transact business in this state at any physical location that has not been approved by the Superintendent; b. 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. c. Conduct or transact business under any name or designation other than that shown on its license or branch certificate; c. d. Assign mortgage loan originators to locations that are not licensed by the Superintendent; d. e. Engage in net branching or offer net branching opportunities in violation of the Department’s prohibition against net branching; f. Transfer or assign its mortgage banker license; g. Engage in conduct prohibited by Part 38 of the General Regulations. 2. R.B.I. Contour 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 Banking Law Articles 12-D and 12- E, Part 420 of the Banking Law Superintendent’s Regulations, and Part 38 of the Superintendent’s General 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.Contour; and d. Maintaining books and records in a manner that will enable the Superintendent to determine whether R.B.I. Contour is complying with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. 3. R.B.I. Contour agrees to develop a comprehensive operations manual governing its day-to-day operations, which shall, at a minimum, address the: a. Establishment of new business locations; b. Use of business names and designations; c. Activities and supervision of employees, independent contractors, and consultants; and d. Maintenance of books and records. 4. Contour agrees to develop a written compliance manual designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. The manual shall, at a minimum, address: a. The designation of an individual responsible for monitoring compliance with all applicable laws, regulations, supervisory requirements, and guidance letters; b. Prohibited conduct as described by Section 38.7 of the General Regulations; c. The duties of an originating entity as described by Part 420 of the Superintendent’s Regulations; d. Reporting requirements as described by Part 420 of the Superintendent’s Regulations; e. Use of business names and designations, domain names, and websites; f. The duties and responsibilities of employees, independent contractors, and consultants; and g. A compliance training program for employees and independent contractors. 5. Within ninety (90) days from the effective date of this Agreement, Xxxxxxx agrees to submit drafts of its operations and compliance manuals to the Department. 6. Within one hundred twenty (120) days from the effective date of this Agreement, Xxxxxxx agrees to submit copies of its final operations and compliance manuals to the Department together with a letter from an authorized officer of Contour indicating his or her approval of said manuals. 7. Contour agrees that its mortgage banking activities will be subject to examinations semi-annually for a twenty-four-month period following the execution of this Agreement. 8. Contour agrees to pay a fine of $5,00020,000. The Registrant Contour further agrees that such payment will be made in immediately available funds in accordance with the Department’s Department payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Without admitting or denying the Department’s findings, Premium Mortgage 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 598598 on such violations. 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. Premium Mortgage agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying with the requirements of the Federal Truth-In-Lending Act (Regulation Z), Article 12-D of the Banking Law Law, and Part 38 of the Superintendent’s General Regulations; b. Assigning mortgage loan originators only ensuring that its advertisements do not misrepresent the fees for obtaining financing, including, representing, directly or by implication, that there are no fees associated with obtaining credit when that is not the case; and c. ensuring that its advertisements do not otherwise mislead consumers as to locations licensed by the Superintendentterms and conditions of credit it is offering and that such advertisements disclose clearly and conspicuously the existence of material terms, conditions, and displaying the license for each mortgage loan originator working at such location; c. Providing the proper oversight and supervision limitations relating to any advertised offer of each individual who becomes employed by, or affiliated as an independent contractor of or consultant for, R.B.I.credit; and d. Maintaining books ensuring that it will not advertise terms of credit using footnotes, asterisks, small print and records in a manner color contrasts that materially contradict or modify the principal message of its advertisements, and will enable the Superintendent disclose clearly and conspicuously all material information. 2. Premium Mortgage agrees to determine whether R.B.I. is complying develop appropriate written advertisement policies and procedures designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance lettersguidelines. 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; (iv) establish a training program to ensure that Premium Mortgage and its employees involved in preparing or approving advertisements understand all applicable federal and state laws, regulations, and truth in advertising guidelines. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, Premium Mortgage agrees to submit a draft of its advertisement policies and procedures to the Department. 4. Within one hundred twenty (120) days from the effective date of this Agreement, Premium Mortgage agrees to submit a copy of its final advertisement policies and procedures to the Department together with a letter from an authorized officer of Premium Mortgage indicating his/her approval of such policies and procedures. Premium Mortgage further agrees to provide copies of all advertisements run by it for the twelve (12) month period following the effective date of this Agreement. 5. Premium Mortgage agrees to pay a fine of $5,000$ 3,000. 6. The Registrant Premium Mortgage further agrees that such payment will be made in immediately available funds in accordance with the Department’s Department payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. JBN is willing to resolve the violations cited stated 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. JBN agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying complying with the requirements of Article 12-D of the Banking Law Law, and Part 38 of the Superintendent’s RegulationsGeneral Regulations of the Banking Board; b. Assigning not conducting or transacting New York regulated mortgage loan originators only to locations licensed business at any location that has not been approved by the Superintendent, and displaying the license for each mortgage loan originator working at such location; c. Providing not conducting or transacting business in this state under any assumed name or designation using a name that has not been approved by the proper oversight and supervision of each individual who becomes employed by, or affiliated as an independent contractor Superintendent; d. ensuring that it will provide appropriate training for its employees regarding the establishment of or consultant forthe change of branch locations; e. ensuring that all individuals engaged in New York regulated mortgage loan activities are duly licensed; f. ensuring that VOORs submitted are accurate, R.B.I.and that JBN maintains supporting documents which can be used to reconcile the information reported in the VOORs; g. ensuring that it reports all revenue from New York regulated forward and reverse mortgages in the VOORs; h. ensuring that it maintains for three years and has a list of closing agents available for examination upon request; and d. Maintaining books i. ensuring that all mortgage applications for New York properties are signed by the employee taking the application. 2. JBN agrees to develop appropriate written compliance policies and records in a manner that will enable the Superintendent procedures designed to determine whether R.B.I. is complying ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance lettersguidelines. 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 and regulations; (iii) establish a mechanism for ensuring that all applicable laws and regulations are met; (iv) establish a training program to ensure that JBN and its employees involved in establishing new branch locations and utilizing new assumed names understand all applicable federal and state laws and regulations. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, JBN agrees to submit a draft of its compliance policies and procedures to the Department. 4. Within thirty (30) days of receipt of non-objection or any comments from the Department, and after incorporation and adoption of all comments, JBN agrees to submit a copy of its final compliance policies and procedures to the Department together with a letter from an authorized officer of JBN indicating his/her approval of such policies and procedures. 5. JBN agrees to pay a fine penalty of $5,000$ 15,000. 6. The Registrant JBN further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Equity Prime Mortgage LLC 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 598598 on such violations. 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. Equity Prime Mortgage LLC agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying complying with the requirements of Article 12-D of the Banking Law Law, and Part 38 of the Superintendent’s General Regulations; b. Assigning ensuring that it will provide appropriate training for its employees regarding the utilization of any location to conduct regulated mortgage loan originators only to locations licensed 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. Equity Prime Mortgage LLC agrees to develop, written advertisement and displaying the license for each mortgage loan originator working at such location; c. Providing the proper oversight compliance policies and supervision of each individual who becomes employed byprocedures (“Compliance P&P”), 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 designed to determine whether R.B.I. is complying ensure compliance with all applicable federal and state laws, regulations, supervisory requirementsrequirements 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 Equity Prime Mortgage LLC and its MLO and non-MLO employees understand all applicable federal and state laws, regulations, supervisory requirements and guidance letters. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, Equity Prime Mortgage LLC 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, Equity Prime Mortgage LLC agrees to submit a copy of its final Compliance P&P to the Department together with a letter from an authorized officer of Equity Prime Mortgage LLC indicating his/her approval of such policies and procedures. 5. Equity Prime Mortgage LLC agrees to pay a fine of $5,000. 6. The Registrant Equity Prime Mortgage LLC further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Without admitting or denying the Department’s findings, Guaranteed Home is willing to resolve the violations violation 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 598598 on such violations. 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. Guaranteed Home agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying complying with the requirements of the Federal Truth-In-Lending Act and Regulation Z, Title 18 U.S.C. §709, Article 12-D of the Banking Law Law, and Part 38 of the Superintendent’s Regulations;General Regulations of the Banking Board; and b. Assigning mortgage loan originators only ensuring that its advertisements do not utilize the name or the seal of any government agency, including HUD and FHA, to locations licensed imply that the advertisements are from or its services or products have some connection with, authorization from, or are endorsed by the Superintendent, and displaying the license for each mortgage loan originator working at such location;government agency; and c. Providing ensuring that its advertisements do not mislead consumers as to the proper oversight and supervision identity of each individual who becomes employed by, or affiliated as an independent contractor of or consultant for, R.B.I.the party offering credit; and d. Maintaining books ensuring that its advertisements do not otherwise mislead consumers as to the terms and records in a manner 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 e. ensuring that it will enable not advertise terms of credit using footnotes, asterisks, small print and color contrasts that materially contradict or modify the Superintendent principal message of its advertisements, and will disclose clearly and conspicuously all material information. 2. Guaranteed Home agrees to determine whether R.B.I. is complying develop appropriate written advertisement policies and procedures designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance lettersguidelines. 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; (iv) establish a training program to ensure that Guaranteed Home and its employees involved in preparing or approving advertisements understand all applicable federal and state laws, regulations, and truth in advertising guidelines. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, Guaranteed Home agrees to submit a draft of its advertisement policies and procedures to the Banking Department for non-objection or comment. 4. Within one hundred twenty (120) days from the effective date of this Agreement, Guaranteed Home agrees to submit a copy of its final advertisement policies and procedures to the Banking Department together with a letter from an authorized officer of Guaranteed Home indicating his/her approval of such policies and procedures. Guaranteed Home further agrees to provide copies of all advertisements run by it for the twelve (12) month period following the effective date of this Agreement. 5. Guaranteed Home agrees to pay a fine penalty of $5,000$ 7,500. 6. The Registrant Guaranteed Home further agrees that such payment will be made in immediately available funds in accordance with the Department’s Banking Department payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Without admitting or denying the Department’s findings, Associated is willing to resolve the violations cited herein and in the visitation report by entering into this Agreement and freely and voluntarily waives its right to a hearing provided for under Banking Law Sections 44 and 598598 on such violations. 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. Associated agrees to take all necessary steps to ensure its compliance with all applicable federal and state laws, regulations, and supervisory requirements, and guidance letters requirements relating to its mortgage business, including including, but not limited to: a. Complying complying with the requirements of Article 12-D and Article 12-E of the Banking Law, Section 420 of the Superintendent’s Regulations, and Part 38 of the General Regulations; and b. ensuring that its MLOs who conduct mortgage origination activities are licensed pursuant to Article 12-E of the Banking Law and Part 38 Section 420 of the Superintendent’s Regulations; b. Assigning mortgage loan originators only c. ensuring that its MLOs do not mislead consumers as to locations licensed by the Superintendent, and displaying the their 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.status; and d. Maintaining ensuring that its MLOs do not share their unique identifier with any other individual or entity; and e. ensuring that its non-MLO staff does not engage in mortgage activities that require a license; and f. ensuring that its non-MLO staff does not have access to any mortgage loan origination system, software, and documents, and they do not utilize a MLOs unique identifier; and g. ensuring that its books and records records, specifically the application logs, are in a manner that will enable compliance with Section 410.7 of the Superintendent Superintendent’s Regulation. 2. Associated agrees to determine whether R.B.I. is complying continue to further develop appropriate written compliance policies and procedures designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirementsrequirements and guidance letters. 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 guidance letters; and (ii) establish a training program to ensure that Associated and its MLO and non-MLO employees understand all applicable federal and state laws, regulations, supervisory requirements and guidance letters. 3. R.B.I. Within ninety (90) days from the effective date of this Agreement, Associated agrees to submit a draft of its compliance policies and procedures to the Department. 4. Within one hundred twenty (120) days from the effective date of this Agreement, Associated agrees to submit a copy of its final compliance policies and procedures to the Department together with a letter from an authorized officer of Associated indicating his/her approval of such policies and procedures. 5. Associated agrees to pay a fine of $ $5,00025,000 payable in two (2) equal installments as follows: $12,500 upon execution of this Agreement $12,500 within 30 days after the execution of this Agreement. 6. The Registrant Associated further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. R.B.I. Semper Home 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. Semper Home shall not: a. Under any name or designation conduct or transact business in this state at any physical location that has not been approved by the Superintendent; b. 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. c. Conduct or transact business under any name or designation other than that shown on its license or branch certificate; c. d. Assign mortgage loan originators to locations that are not licensed by the Superintendent; d. e. Engage in net branching or offer net branching opportunities in violation of the Department’s prohibition against net branching; f. Transfer or assign its mortgage banker license; g. Engage in conduct prohibited by Part 38 of the General Regulations. 2. R.B.I. Semper Home 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 Banking Law Articles 12-D and 12- E, Part 420 of the Banking Law Superintendent’s Regulations, and Part 38 of the Superintendent’s General 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.Semper Home; and d. Maintaining books and records in a manner that will enable the Superintendent to determine whether R.B.I. Semper Home is complying with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. 3. R.B.I. Semper Home agrees to develop a comprehensive operations manual governing its day-to-day operations, which shall, at a minimum, address the: a. Establishment of new business locations; b. Use of business names and designations; c. Activities and supervision of employees, independent contractors, and consultants; and d. Maintenance of books and records. 4. Semper Home agrees to develop a written compliance manual designed to ensure compliance with all applicable federal and state laws, regulations, supervisory requirements, and guidance letters. The manual shall, at a minimum, address: a. The designation of an individual responsible for monitoring compliance with all applicable laws, regulations, supervisory requirements, and guidance letters; b. Prohibited conduct as described by Section 38.7 of the General Regulations; c. The duties of an originating entity as described by Part 420 of the Superintendent’s Regulations; d. Reporting requirements as described by Part 420 of the Superintendent’s Regulations; e. Use of business names and designations, domain names, and websites; f. The duties and responsibilities of employees, independent contractors, and consultants; and g. A compliance training program for employees and independent contractors. 5. Within ninety (90) days from the effective date of this Agreement, Xxxxxx Home agrees to submit drafts of its operations and compliance manuals to the Department. 6. Within one hundred twenty (120) days from the effective date of this Agreement, Xxxxxx Home agrees to submit copies of its final operations and compliance manuals to the Department together with a letter from an authorized officer of Semper Home indicating his or her approval of said manuals. 7. Semper Home agrees that its mortgage banking activities will be subject to examinations semi-annually for a twenty-four-month period following the execution of this Agreement. 8. Semper Home agrees to pay a fine of $5,00020,000 payable in twelve monthly installments, with the first installment of $1,300 due upon execution of this Agreement. The Registrant remaining eleven payments of $1,700 are due by the 15th of each successive month until the fine is fully paid. 9. Semper Home further agrees that such payment will be made in immediately available funds in accordance with the Department’s Department payment instructions.