Romik Yeghnazary - All About Consent Order

A consent order is also known as a decree order and it’s any order which has been finalized by a judge with the consent of all the parties involved. It is an agreement that has been reached by the parties and then submitted to the court for approval. Once it has been approved, it has legal force on both parties. Although it is not strictly a judgment, it is binding and cannot be appealable. It can however be set aside by the court in cases of fraud or error on the part of both parties.

Consent orders can be used to finalise divorces, in children consent and finances. Moreover, consent orders can also take place in different fields and professions and mortgage agents aren’t left out. To be a mortgage agent or broker, one must be licensed and this will empower them to solicit for borrowers, negotiate, provide advisory services or carry out any other mortgage activities. Different countries and states have their regulatory laws binding on mortgage brokers in order to protect the interest of the public as well as provide standards by which brokerage activities will be carried out.



Therefore, the state expects licensed mortgage brokers or agents to demonstrate the highest level of professionalism and ethical conduct. Failure to do this often results in a consent order also known as stipulation or sanction. In most cases, content orders are issued when the agent or broker fails to address correspondence from a regulatory body.

There are different mistakes that can lead a mortgage agent or broker to receive a consent order. For instance, if these cases are not reported within the stipulated time frame, it can result in a consent order.
Breach of Consent Order

Failure to adhere to a consent order is considered a breach of the consent order which the court does not look favorably upon. When this happens, the court will usually enforce the order, and you will be liable to fulfill the responsibilities immediately. Expect there is a very good reason for the breach of the order.

There are various disciplinary actions when an agent or brokers violate the laws and a consent order is issued says Romik Yeghnazary. The board will review the violations and the recommended sanctions. Any of the following sanctions can be administered: 
  • Mandating the culprit to cease and desist from violations of laws
  • Revoke, suspend, fine or reprimand a mortgage broker or agent
  • Suspension or revocation of license
  • Probation
  • Additional education / continuing education
  • Denial of license renewal
  • Termination from duties (in extreme cases)
Location: Las Vegas, NV, USA

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