Northwest Home Mortgage LLC, and Jeffrey J. Naughton ... - Wa

Name(s):

Terms Completed

ORDER SUMMARY ? Case Number: C-06-044

Northwest Home Mortgage LLC Jeffrey J. Naughton

Order Number:

C-06-044-07-CO01

Effective Date:

November 27, 2007

License Number: Or NMLS Identifier [U/L]

License Effect:

DFI: 20191 [NMLS: 117826] -Northwest

DFI: 22092 [NMLS: 121300]

(Revoked, suspended, stayed, application denied or withdrawn) If applicable, you must specifically note the ending dates of terms.

n/a

Not Apply Until:

Not Eligible Until:

Prohibition/Ban Until:

Investigation Costs

$522.28

Due

Fine

$3,750

Due

Assessment(s)

$

Due

Restitution

$4,095.27 Due

Judgment

$

Due

Satisfaction of Judgment Filed?

Y N

No. of

Victims:

Comments:

Paid

Date

Y N 8.3.07

Paid

Date

Y N 8.3.07

Paid

Date

Y N

Paid

Date

Y N 11.27.07

Paid

Date

Y N

RECEIVED

AUG 1 5 2007

CONSUMER SERVlCES DMS!ON FINANCIAL INS11TUTIONS OLYrvlPlA. WASHINGTON

2

STATE OF WASHINGTON

DEPARTMENT OF FINANCIAL INSTITUTIONS

3

DIVISION OF CONSUMER SERVICES

4

IN THE MATTER OF DETERMINING

Whether there has been a violation of tbe

5

Mortgage Broker Practices Act of Washington by:

NO. C-06-044-07-COOI

6

NORTHWEST HOME MORTGAGE LLC, and

JEFFREY J. NAUGHTON, Owner, Managing

CONSENT ORDER

7

Member, and Designated Broker,

Respondents.

8 COMES NOW the Director ofthe Department of Financial Institutions (Director), through his designee

9 Deborah Bortner, Division Director, Division of Consumer Services, and Northwest Home Mortgage LLC, Jeffrey

10 J. Naughton, Owner, Managing Member, and Designated Broker, (collectively Respondents), and finding that the

II issues raised in the captioned matter may be economically and efficiently settled, agree to the entry ofthis Consent

12 Order. This Consent Order is entered pursuant to chapter 19.146 of Revised Code of Washington (RCW), and

13 RCW 34.05.060 ofthe Administrative Procedure Act, based on the following:

14 AGREEMENT AND ORDER

15 The Department of Financial Institutions, Division of Consumer Services (Department) and Respondents

16 have agreed upon a basis for resolution ofthe matters alleged in Statement of Charges No. C-06-044-07-SC01

17 (Statement of Charges), entered February 8, 2007, (copy attached hereto). Pursuant to chapter 19.146 RCW, the

18 iViongage Brokt:r Practic~s Act (Act) and RC\V 34.05.060 of the Administrative Procedl.!re Act, Respond~nts

19 hereby agree to the Department's entry ofthis Consent Order and further agree that the issues raised in the above

20 captioned matter may be economically and efficiently settled by entry ofthis Consent Order. The parties intend this

21 Consent Order to fully resolve the Statement of Charges and agree that Respondents do not admit any wrongdoing

22

by its entry. Respondents are agreeing not to contest the Statement of Charges in consideration ofthe terms of this

23 Consent Order.

24 Based upon the foregoing:

25

CONSENT ORDER

DEPARTMENT OF FINANCIAL INSTITUTIONS Division of Consumer Services 150 Israel Rd SW PO Box 41200 Olympia, WA 98504-1200 (360) 902-8703

1

A. Jurisdiction. It is AGREED that the Department has jurisdiction over the subject matter of the

2 activities discussed herein.

3

B. Waiver of Hearing. It is AGREED that Respondents have been infonned of the right to a hearing

4 before an administrative law judge, and that they have waived their right to a hearing and any and all administrative

5 and judicial review of the issues raised in this matter, or of the resolution reached herein. Accordingly,

6 Respondents agree to withdraw their appeal and to inform the Office of Administrative Hearings in writing of their

7 withdrawal.

8

C. No Admission of Liability. The parties intend this Consent Order to fully resolve the Statement of

9 Charges and agree that Respondents do not admit to any wrongdoing by its entry.

10

D. Fine. It is AGREED that Respondents shall pay to the Department a fme of$3,750, in the form ofa

11 cashier's check made payable to the "Washington State Treasurer," upon entry of this Consent Order.

12

E. Restitution. It is AGREED that Respondents shall pay to the borrower $4,095.27 in the form of a

13 cashier's check or money order and will provide the Department with a photocopy ofthe cashier's check or money

14 order, upon entry of this Consent Order.

15

F. Investigation Fee. It is AGREED that Respondents shall pay to the Department an investigation fee of

16 $522.28, in the form of a cashier's check made payable to the "Washington State Treasurer," upon entry ofthis

17 Consent Order.

18

G. Authority to Execute Order. It is AGREED that the undersigned Respondents have represented and

19 warranted that they have the full power and right to execute this Consent Order on behalf of the parties represented.

20

H. Non-Compliance with Order. It is AGREED that Respondents understand that failure to abide by

21 the terms and conditions of this Consent Order may result in further legal action by the Director. In the event of

22 such legal action, Respondents may be responsible to reimburse the Director for the cost incurred in pursuing

23 such action, including but not limited to, attorney fees.

24

I. Voluntarily Entered. It is AGREED that the undersigned Respondents have voluntarily entered into

25 this Consent Order, which is effective when signed by the Director's designee.

CONSENT ORDER

2

DEPARTMENT OF FINANCIAL INSTITUTIONS

Division of Consumer Services

150 Israel Rd SW

PO Box 41200

Olympia, WA 98504-1200

(360) 902?8703

J. Completely Read, Understood, and Agreed. It is AGREED that Respondents have read this Consent

2 Order in its entirety and fully understand and agree to all of the same.

3 RESPONDENTS: 4 Northwest Home Mortgage, LLC

By: 5

6 7

8

9

DV~'7

rJ;~iM1

10

11 John 2~!tW~A ~

12 Attorney at Law Attorney for Respondents

'6'1 ~ IDi

Date

13

14

n~2007. DO NOT WRITE BELOW THIS LINE

THIS ORDER ENTERED THIS J){f!oAY OF

15

16

~~J-$nL

17

DEBORAH BORTNER

Director

18

Division of Consumer Services

Department of Financial Institutlons

19

20

21

22

23

24

25

CONSENT ORDER

3

DEPARTMENT OF FINANCIAL INSTITUTIONS

Division of Consumer Services

150 Israel Rd SW

PO Box 41200

Olympia, WA 98504-1200

(360) 902-8703

STATE OF WASHINGTON

2

DEPARTMENT OF FINANCIAL INSTITUTIONS

DIVISION OF CONSUMER SERVICES 3

IN THE MATTER OF DETERMINING

4

Whether there has been a violation of the

NO. C-06-044-07-SCOI

Mortgage Broker Practices Act of Washington by: 5

NORTHWEST HOME MORTGAGE, LLC, and

STATEMENT OF CHARGES and

6 JEFFREY J. NAUGHTON, Owner, Managing

NOTICE OF INTENTION TO ENTER

Member, and Designated Broker,

AN ORDER TO IMPOSE FINE, ORDER

7

RESTITUTION, AND COLLECT INVESTIGATION

Res ondents. FEE

8

9

INTRODUCTION 10

Pursuant to RCW 19.146.220 and RCW 19.146.223, the Director of the Department of Financial II

Institutions of the State of Washington (Director) is responsible for the administration of chapter 19.146 RCW, the 12

Mortgage Broker Practices Act (Act). After having conducted an investigation pursuant to RCW 19.146.235, and 13

based upon the facts available as of February 8, 2007, the Director, through his designee, Deborah Bortner, Acting 14

Division Director, Division of Consumer Services, institutes this proceeding and fmds as follows: IS

16

I. FACTUAL ALLEGATIONS

17 1.1 Respondents.

18

A. Northwest Home Mortgage, LLC, (Respondent Northwest) was licensed by the Department

19 of Financial Institutions of the State of Washington (Department) to conduct business as a mortgage broker on

20 January 20, 2000, and continues to be licensed to date. Respondent Northwest is licensed to conduct the

21 business of a mortgage broker at two locations. Respondent Northwest's main office is located at 1201 East

22 Howell St., Seattle, WA 98118.

23

B.

Jeffrey J. Naughton (Respondent Naughton) is Owner, Managing Member, and Designated

24 Broker of Respondent Northwest. Respondent Naughton was named Designated Broker of Respondent

25 Northwest on January 20, 2000, and continues as Designated Broker to date.

STATEMENT OF CHARGES C-06-044-07-SCOI Northwest Home Mortgage, LLC, and Jeffrey J. Naughton

DEPARTMENT OF FINANCIAL INSTITUTIONS Division of Consumer Services 150 Israel Rd SW PO Box 41200 Olympia, WA 98504-1200 (360) 902-8703

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download