Common use of SETTLEMENT TERMS AND CONDITIONS Clause in Contracts

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 immediately following nine (9) months. 6. MLD Mortgage further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. MLD FFC 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 FFC 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 FFC 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 FFC 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 FFC 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 FFC 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 FFC Mortgage indicating his/her approval of such policies and procedures. 5. MLD FFC 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 immediately following nine (9) months5,000. 6. MLD FFC Mortgage further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. MLD Mortgage UMC 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 The Entity 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 in this state under any name, assumed name or designation using any website, domain, or other name that has not been approved by the Superintendent. 2. MLD Mortgage The Entity 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 and (ii) establish a training program to ensure that MLD Mortgage the Entity 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 the Entity 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 the Entity 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 the Entity indicating his/her approval of such policies and procedures. 5. MLD Mortgage The Entity 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 immediately following nine (9) months5,000. 6. MLD Mortgage The Entity further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.

SETTLEMENT TERMS AND CONDITIONS. MLD Mortgage Franklin First 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 Franklin First 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 location, any restricted word, under any assumed name or designation using any website, domain, or other name that has not been approved by the Superintendent. 2. MLD Mortgage Franklin First 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 Franklin First 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 Franklin First 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 Franklin First 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 Franklin First indicating his/her approval of such policies and procedures. 5. MLD Mortgage Franklin First 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 immediately following nine (9) months. 6. MLD Mortgage Franklin First further agrees that such payment will be made in immediately available funds in accordance with the Department’s payment instructions.