You will complete a capstone that integrates the knowledge and skills you have developed in the business core coursework and over the duration of the term by creating an executive summary that highlights the performance of your company from the Capsim simulation. The executive summary is your opportunity to show your knowledge of the organization, products, and business functions—skills that professionals in this field must possess. You will also reflect on your journey through the business core and how you plan to position yourself both professionally and in your upcoming program of study. This personal and professional reflection will specifically focus on business communication skills, professional etiquette, and peer-to-peer and peer-to-leader collaboration.

On August 12, 2014, the Consumer Financial Protection Bureau (CFPB) took action against Amerisave Mark Smith had been in the mortgage business for over seven years before finally opening his own company—Mark Smith Mortgage (MCM) as a CRMLA-licensed mortgage lender. The main focus of his business was to originate and fund federally related residential mortgage loans. Mark was careful to follow all of the rules and regulations required under the California Financial Code for CRMLA-licensed lenders. For example, MCM conspicuously displayed the licenses of the sponsored mortgage loan originators at the authorized place of business. In addition, he made sure to supervise the lending activities of every mortgage loan originator that MCM sponsored. To meet this goal, Mark monitored the phone calls of his sponsored MLOs, reviewed their paperwork for accuracy, and checked all advertising to be sure that there were no misleading statements being made to borrowers. Olive, the office manager, was in charge of handling administrative and accounting tasks. She set up a system to keep MCM’s books, accounts, and records in compliance with the DBO Commissioner’s rules and regulations. The residential real estate market finally improved and business was booming. Mark was busy hiring and training new MLOs, both CRMLA mortgage loan originators and licensed California real estate agents with the MLO license endorsement. In addition to her current duties, Mark asked Olive to monitor the licenses of all the sponsored MLOs to be sure the licenses were current and in compliance with the NMLS. With over 200 sponsored MLOs, Olive was having difficulty keeping up with all of her responsibilities, so she set up a system to track the MLO licenses. Imagine his shock when during a regulatory examination conducted by the DBO Commissioner, Mark was informed that some of his sponsored MLOs had inactive licenses. In fact, one person who was a licensed real estate broker with the MLO endorsement had not renewed her real estate license. What was MSM’s violation and what enforcement action(s) could the DBO Commissioner take against Mike Smith Mortgage?