BFI Transcript 1

COMMONWEALTH OF VIRGINIA, ex rel . vs . SECURITY TRUST MORTGAGE, LLC
Proceedings on 09/11/2013 Page 20
been removed, that all of the judgments against him
2 have either been satisfied or compromised in
3 accordance with the payment plan, that he's current
4 with his house mortgage, and so that all of the
5 litany of issues that have arisen with regard to
6 this application by Mr . McDonald and the prior one
7 in 2012, those matters are in hand, if not utterly
8 and absolutely, certainly substantially and
9 materially better .
10 And that is pertinent to the hearing of
11 Security because as counsel for BFI properly points
12 out, under the rules of -- excuse me, under the
13 Title 6 .2 of the code of Virginia, the actions of a
14 principal of a licensee are imputed of course to the
15 licensee . So -- and it's been expressly stated by
16 Bureau of Financial Institutions in this matter that
17 if Mr . McDonald does not have his house in order,
18 then by definition, Security cannot have its
19 financial house in order .
20 And there have been substantial and
21 material improvements which we're prepared to place
22 upon the record and which sort of are on the record .
23 We don't have a set of filings that I am confident
24 the Hearing Examiner is more used to seeing in the
25 nature of court pleadings, orderly and presented and
Huseby, Inc .
www.huseby.com
4860 Cox Road, Suite 200, Glen Allen, VA 23060 (804) 755-4200