Preview
1 Sarah Shapero (Bar No. 281748)
Jessica Adair (Bar No. 348364)
2 SHAPERO LAW FIRM
ELECTRONICALLY
3 100 Pine St., Ste. 530
San Francisco, CA 94111 FILED
Superior Court of California,
4 Telephone: (415) 273-8892 County of San Francisco
Attorney for Plaintiffs, 05/30/2023
5 EDUARDO PANIAGUA Clerk of the Court
ELENA ASTURIAS BY: RONNIE OTERO
6 Deputy Clerk
7
SUPERIOR COURT OF THE STATE OF CALIFORNIA
8
FOR THE COUNTY OF SAN FRANCISCO
9
Eduardo Paniagua and Elena Asturias, Case No.: CGC-18-571279
10 individuals, Plaintiffs,
MOTION IN LIMINE NO. 3: TO
11 vs. ADMIT CERTAIN DOCUMENTS
12 INTO EVIDENCE
Milestone Financial, LLC, a California
13 corporation, Bear Bruin Ventures, Inc. a
California Corporation, William R. Stuart, an
14 individual, Carolyn Stuart, an individual, Zoe
Hamilton, an individual, and DOES 1-100,
15 inclusive, Defendants
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TO ALL PARTIES AND THEIR ATTORNEYS OF RECORD:
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PLEASE TAKE NOTICE THAT that Plaintiff EDUARDO PANIAGUA will move the
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Court in limine for an order admitting the attached two documents into evidence in this action.
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Specifically, Plaintiff requests that Exhibit A (March 3, 2015, Order to Desist and Refrain) and
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Exhibit B (April 27, 2015 Second Amended Order to Desist and Refrain) be admitted into
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evidence.
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This motion is based on the grounds that California courts permit all relevant evidence to be
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admitted at trial unless the evidence’s probative value is substantially outweighed by its prejudice
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and is further based upon this notice, attached memorandum of points and authorities, the
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attached declaration of Sarah Shapero, upon all pleadings and documents filed in this matter, and
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upon any other oral and/or documentary evidence that may be presented at the hearing of the
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motion.
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MOTION IN LIMINE
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DATED: May 30, 2023 Respectfully submitted,
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SHAPERO LAW FIRM
4
5 ______________________
6 Sarah Shapero
Jessica Adair
7 Attorneys for Plaintiff
EDUARDO PANIAGUA
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MOTION IN LIMINE
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POINTS AND AUTHORITIES
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I. INTRODUCTION
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Plaintiff seeks an order from the Court allowing the two attached Bureau of Real Estate
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(“BRE”) Orders to Desist and Refrain into evidence at trial in this action. These BRE Orders
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indicate that Defendants, at the time of the dealings with Plaintiff in 2014, had been ordered by
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the Bureau of Real Estate to stop the exact actions that it was taking when dealing with Plaintiff,
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ie, negotiating loans on real property without a broker and acting as a broker. This evidence
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serves to impeach Mr. Stuart and Ms. Hamilton’s testimony and the probative value of this
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evidence is not substantially outweighed by its probability of undue prejudice.
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LEGAL ARGUMENT
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Section 350 of the California Evidence Code permits only relevant evidence to be admitted at
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trail. Relevant evidence is evidence “having any tendency in reason to prove or disprove any
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disputed fact that is of consequence to the determination of the action.” (Cal. Evid. Code § 210)
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The court has discretion to exclude evidence “if its probative value is substantially outweighed by
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the probability that its admission will…create substantial danger of undue prejudice, or confusing
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the issues, or of misleading the jury.” (Cal. Evid. Code § 352).
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In the present case, Plaintiff seeks to admit into evidence two Orders to Desist and Refrain
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from the BRE against Defendants Milestone, Stuart, Hamilton, and Bear Bruin. The Orders to
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Desist and Refrain cite these defendants, in 2014, for acting as a real estate broker without a
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license and soliciting borrowers for or negotiating loans in connection with loans secured directly
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or collaterally by lines on real property, which is exactly the conduct that Plaintiff claimed was
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done in 2014 by Defendants in originating Plaintiff’s loan. Furthermore, Plaintiff alleges that
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Defendant should have informed Plaintiff about these orders but failed to do so when negotiating
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the loan at issue in this case. Therefore, this information is extremely relevant and should be
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admitted at trial in this action. This evidence is also more probative than prejudicial, as this
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information has a tendency to prove that Defendants were not licensed at the time that it was
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negotiating this loan with Plaintiff and, in fact, did not hold the proper license to make these types
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of loans and that Defendants committed fraud in making the loan at issue.
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MOTION IN LIMINE
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I. CONCLUSION
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For the foregoing reasons, the Court should grant Plaintiff’s Motion in Limine to introduce
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relevant evidence should be granted.
4
5 DATED: May 30, 2023 Respectfully submitted,
6 SHAPERO LAW FIRM
7
8 ______________________
Sarah Shapero
9 Jessica Adair
Attorneys for Plaintiff
10 EDUARDO PANIAGUA
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MOTION IN LIMINE
EXHIBIT A
Slag
BUREAU OF REAL ESTATE
FILED
P. O. Box 137007
N Sacramento, CA 95813-7007 MAR 1 3 2015
3
BUREAU OF REAL ESTATE
Telephone: (916) 263-8672
4 By S. Black
5
STATE OF CALIFORNIA
10 BUREAU OF REAL ESTATE
11 To:
CAROLYN TOBIASON STUART, No. H- 6235 SAC
12 WILLIAM ROBINSON STUART,
ZOE REBECCA HAMILTON, ORDER TO DESIST AND REFRAIN
13
BEAR BRUIN VENTURES, INC. and (B&P Code Section 10086)
14 MILESTONE FINANCIAL, LLC.
15
16 The Commissioner of the California Bureau of Real Estate (Bureau) caused an
17 investigation to be made of the activities of CAROLYN TOBIASON STUART ("C.
18 STUART"), WILLIAM ROBINSON STUART ("W. STUART"), ZOE REBECCA
19 HAMILTON ("HAMILTON"), BEAR BRUIN VENTURES, INC., ("BEAR"), doing business
20 as "Page Mill Funding", and MILESTONE FINANCIAL, LLC ("MILESTONE"). Based on
21 that investigation, the Commissioner has determined that C. STUART, W. STUART,
22 HAMILTON, BEAR, and MILESTONE have engaged in, are engaging in, or are attempting to
23 engage in, acts or practices constituting violations of the California Business and Professions
24 Code (Code) and/or Title 10, Chapter 6, California Code of Regulations (Regulations),
25 including the business of, acting in the capacity of, and/or advertising or assuming to act as, a
26 real estate broker in the State of California within the meaning of Sections 10130 (act as a real
27 estate broker without a license), 10131(d) (solicits borrowers or lenders for or negotiates loans
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630
or collects payments or performs services for borrowers or lenders or note owners in connection
N with loans secured directly or collaterally by liens on real property or on a business
w opportunity), and/or 10166.02(b) (failing to obtain a mortgage loan originator license
endorsement) of the Code. Furthermore, based on the investigation, the Commissioner hereby
U issues the following Findings of Fact, Conclusions of Law, and Desist and Refrain Order under
the authority of Section 10086 of the Code.
Whenever acts referred to below are attributed to BEAR, "Page Mill Funding"
00 and/or MILESTONE, those acts are alleged to have been done by C. STUART, W. STUART,
and/or HAMILTON, acting by themselves, or by and/or through one or more agents, associates,
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affiliates, and/or co-conspirators, and using the name BEAR, "Page Mill Funding" and/or
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MILESTONE, or other names or fictitious names unknown at this time.
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FINDINGS OF FACT
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1. At all times mentioned, C. STUART has been licensed by the Bureau as
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a real estate broker. At no time mentioned has C. STUART obtained a mortgage loan
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originator license endorsement.
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2. At all times mentioned, W. STUART has been licensed by the Bureau as
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a real estate salesperson. At no time mentioned has W. STUART obtained a mortgage loan
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originator license endorsement.
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3. HAMILTON has been licensed by the Bureau as a real estate
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salesperson. On December 22, 2004, HAMILTON's real estate salesperson license expired
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and said license has not been renewed or reinstated. At no time mentioned has HAMILTON
22 obtained a mortgage loan originator license endorsement.
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BEAR is a corporation in the State of California, with a primary place of
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business located at 2626 Hanover St., Palo Alto, CA 94304. At all times mentioned, BEAR
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has been licensed by the Bureau as a corporate real estate broker. At no time mentioned, has
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BEAR obtained a mortgage loan originator license endorsement. At all times mentioned,
27 BEAR was doing business as Page Mill Funding.
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5. MILESTONE is a corporation in the State of California, with a primary
2 place of business located at 4970 El Camino Real #230, Los Altos, CA 94022. At no time
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herein mentioned was MILESTONE licensed by the Bureau in any capacity. At no time
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mentioned, has MILESTONE obtained a mortgage loan originator license endorsement.
6. During the period of time set forth below, C. STUART, W. STUART,
HAMILTON, BEAR, and MILESTONE solicited borrowers or lenders for or negotiated loans or
7
collected payments or performed services for borrowers or lenders or note owners in connection
with loans secured directly or collaterally by liens on real property or on a business opportunity.
7. In or about March, 2014, MILESTONE solicited and/or offered borrowers
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lending services through a flier which stated that MILESTONE is a "Wholesale Direct Lender"
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offering "Fast Quotes", "Fast Closings" and "Competitive Rates". The MILESTONE flier is
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attached hereto and is incorporated herein by reference as Exhibit "A".
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8. The flier discussed above in Paragraph 7 also advertised a website for
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MILESTONE at www.milestonelender.com. The website indicates that MILESTONE is "In the
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business of originating or purchasing loans secured by California real estate." Additionally, the
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website states that W. STUART "serves as the President of Page Mill Funding, a licensed real
17
estate broker and manager of Milestone", and that C. STUART is the "DRE broker for
18
Milestone."
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9. Between June 10, 2014 and July 1, 2014, a Special Investigator for the
20
Bureau's Sacramento District Office ("Investigator") engaged in email correspondence with
21 HAMILTON, acting on behalf of MILESTONE. Within the course of the email
22
correspondence, HAMILTON solicited mortgage loan originator activity on behalf of
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MILESTONE and arranged to meet the Investigator with the purpose of negotiating a
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residential mortgage loan refinance agreement.
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10. On or about July 2, 2014, the Investigator met with HAMILTON at the
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MILESTONE office address advertised on the MILESTONE flier (See Exhibit "A".) At the
27 meeting, HAMILTON, acting on behalf of MILESTONE, solicited and/or offered to negotiate
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632
the terms and rates of a residential mortgage loan refinance with the Investigator concerning a
N piece of real property located within the State of California.
CONCLUSIONS OF LAW
1. Based on the findings of fact contained in paragraphs 1 through 10, C.
STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited, offered, and/or
negotiated terms of a residential mortgage loan for one or more borrowers without obtaining a
mortgage loan originator license endorsement in violation of Section 10166.02(b) of the Code.
2. Based on the Findings of Fact contained in Paragraphs 9 through 10,
HAMILTON has performed and/or participated in mortgage loan activities which require a real
10
estate license under Code Sections 10130 and 10131(b) during a period of time when
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HAMILTON's real estate salesperson license was expired.
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3. Based on the Findings of Fact contained in Paragraphs 9 through 10,
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MILESTONE has performed and/or participated in mortgage loan activities which require a real
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estate license under Code Sections 10130 and 10131(b) during a period of time when
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MILESTONE was not licensed by the Bureau in any capacity.
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DESIST AND REFRAIN ORDER
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Based on the Findings of Fact and Conclusions of Law stated herein, C.
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STUART, W. STUART, HAMILTON, BEAR, and MILESTONE, whether doing business under
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your own name, or any other names or fictitious names, ARE HEREBY ORDERED to:
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Immediately desist and refrain from performing any acts within the State of
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California for which a real estate broker license and/or mortgage loan originator license
22 endorsement is required. In particular, you are ordered to desist and refrain from soliciting
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borrowers and/or performing services for borrowers or lenders in connection with loans secured
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directly or collaterally by one or more liens on real property, unless and until you obtain a real
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estate broker license and a mortgage loan originator license endorsement issued by the Bureau.
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DATED: FEBRUARY 15, 2015
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REAL ESTATE COMMISSIONER
5
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By: JEFFREY MASON
Chief Deputy Commissioner
10 NOTICE-
Business and Professions Code Section 10139 provides that "Any person acting as a real estate
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broker or real estate salesperson without a license or who advertises using words indicating that
he or she is a real estate broker without being so licensed shall be guilty of a public offense
12
punishable by a fine not exceeding twenty thousand dollars ($20,000), or by imprisonment in the
13 county jail for a term not to exceed six months, or by both fine and imprisonment; or if a
corporation, be punished by a fine not exceeding sixty thousand dollars ($60,000)."
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EXHIBIT B
BUREAU OF REAL ESTATE
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P. O. Box 137007
Sacramento, CA 95813-7007
FILED APR 2 7 2015
Telephone: (916) 263-8672
BUREAU OF REAL ESTATE
By XJust
a
00
STATE OF CALIFORNIA
10 BUREAU OF REAL ESTATE
11 To:
CAROLYN TOBIASON STUART, No. H- 6235 SAC
12
WILLIAM ROBINSON STUART,
ZOE REBECCA HAMILTON, SECOND AMENDED
13
BEAR BRUIN VENTURES, INC. and ORDER TO DESIST AND REFRAIN
(B&P Code Section 10086)
14 MILESTONE FINANCIAL, LLC.
15
16 The Commissioner of the California Bureau of Real Estate (Bureau) caused an
17 investigation to be made of the activities of CAROLYN TOBIASON STUART ("C.
18 STUART"), WILLIAM ROBINSON STUART ("W. STUART"), ZOE REBECCA
19 HAMILTON ("HAMILTON"), BEAR BRUIN VENTURES, INC., ("BEAR"), doing business
20 as "Page Mill Funding", and MILESTONE FINANCIAL, LLC ("MILESTONE"). Based on
21 that investigation, the Commissioner has determined that C. STUART, W. STUART,
22 HAMILTON, BEAR, and MILESTONE have engaged in, are engaging in, or are attempting to
23 engage in, acts or practices constituting violations of the California Business and Professions
24 Code (Code) and/or Title 10, Chapter 6, California Code of Regulations (Regulations),
25 including the business of, acting in the capacity of, and/or advertising or assuming to act as, a
26 real estate broker in the State of California within the meaning of Sections 10130 (act as a real
27 estate broker without a license), 10131(d) (solicits borrowers or lenders for or negotiates loans
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or collects payments or performs services for borrowers or lenders or note owners in connection
N with loans secured directly or collaterally by liens on real property or on a business
opportunity), and/or 10166.02(b) (failing to obtain a mortgage loan originator license
endorsement) of the Code. Furthermore, based on the investigation, the Commissioner hereby
U issues the following Findings of Fact, Conclusions of Law, and Desist and Refrain Order under
6
the authority of Section 10086 of the Code.
Whenever acts referred to below are attributed to BEAR, "Page Mill Funding"
and/or MILESTONE, those acts are alleged to have been done by C. STUART, W. STUART,
and/or HAMILTON, acting by themselves, or by and/or through one or more agents, associates,
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affiliates, and/or co-conspirators, and using the name BEAR, "Page Mill Funding" and/or
11 MILESTONE, or other names or fictitious names unknown at this time.
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FINDINGS OF FACT
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1. At all times mentioned, C. STUART has been licensed by the Bureau as
14 a real estate broker. At no time mentioned has C. STUART obtained a mortgage loan
15 originator license endorsement.
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2. At all times mentioned, W. STUART has been licensed by the Bureau as
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a real estate salesperson. At no time mentioned has W. STUART obtained a mortgage loan
18 originator license endorsement.
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3. HAMILTON has been licensed by the Bureau as a real estate
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salesperson. On December 22, 2004, HAMILTON's real estate salesperson license expired
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and said license has not been renewed or reinstated. At no time mentioned has HAMILTON
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obtained a mortgage loan originator license endorsement.
23 4. BEAR is a corporation in the State of California, with a primary place of
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business located at 2626 Hanover St., Palo Alto, CA 94304. At all times mentioned, BEAR
25 has been licensed by the Bureau as a corporate real estate broker. At no time mentioned, has
26 BEAR obtained a mortgage loan originator license endorsement. At all times mentioned,
27 BEAR was doing business as Page Mill Funding.
- 2. 637
5. MILESTONE is a corporation in the State of California, with a primary
2 place of business located at 4970 El Camino Real #230, Los Altos, CA 94022. At no time
3 herein mentioned was MILESTONE licensed by the Bureau in any capacity. At no time
mentioned, has MILESTONE obtained a mortgage loan originator license endorsement.
6. During the period of time set forth below, C. STUART, W. STUART,
HAMILTON, BEAR, and MILESTONE solicited borrowers or lenders for or negotiated loans or
7 collected payments or performed services for borrowers or lenders or note owners in connection
with loans secured directly or collaterally by liens on real property or on a business opportunity.
7. In or about March, 2014, MILESTONE solicited and/or offered borrowers
10 lending services through a flier which stated that MILESTONE is a "Wholesale Direct Lender"
11
offering "Fast Quotes", "Fast Closings" and "Competitive Rates". The MILESTONE flier is
12 attached hereto and is incorporated herein by reference as Exhibit "A".
13
8. The flier discussed above in Paragraph 7 also advertised a website for
14 MILESTONE at www.milestonelender.com. The website indicates that MILESTONE is "In the
15
business of originating or purchasing loans secured by California real estate." Additionally, the
16
website states that W. STUART "serves as the President of Page Mill Funding, a licensed real
17
estate broker and manager of Milestone", and that C. STUART is the "DRE broker for
18 Milestone."
10
9. Between June 10, 2014 and July 1, 2014, a Special Investigator for the
20
Bureau's Sacramento District Office ("Investigator") engaged in email correspondence with
21 HAMILTON, acting on behalf of MILESTONE. Within the course of the email
22
correspondence, HAMILTON solicited mortgage loan originator activity on behalf of
23
MILESTONE and arranged to meet the Investigator with the purpose of negotiating a
24 residential mortgage loan refinance agreement.
25
10. On or about July 2, 2014, the Investigator met with HAMILTON at the
26 MILESTONE office address advertised on the MILESTONE flier (See Exhibit "A".) At the
27
meeting, HAMILTON, acting on behalf of MILESTONE, solicited and/or offered to negotiate
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the terms and rates of a residential mortgage loan refinance with the Investigator concerning a
N piece of real property located within the State of California.
w CONCLUSIONS OF LAW
Based on the findings of fact contained in paragraphs 1 through 10, C.
STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited, offered, and/or
6 negotiated terms of a residential mortgage loan for one or more borrowers without obtaining a
7
mortgage loan originator license endorsement in violation of Section 10166.02(b) of the Code.
2. Based on the Findings of Fact contained in Paragraphs 9 through 10,
9
HAMILTON has performed and/or participated in mortgage loan activities which require a real
10
estate license under Code Sections 10130 and 10131(b) during a period of time when
11 HAMILTON's real estate salesperson license was expired.
12
3. Based on the Findings of Fact contained in Paragraphs 9 through 10,
13
MILESTONE has performed and/or participated in mortgage loan activities which require a real
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estate license under Code Sections 10130 and 10131(b) during a period of time when
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MILESTONE was not licensed by the Bureau in any capacity.
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DESIST AND REFRAIN ORDER
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I. As to C. STUART, W. STUART, and BEAR
Based on the Findings of Fact and Conclusions of Law stated herein,
20 C. STUART, W. STUART, and BEAR, whether doing business under your own name, or any
21 other names or fictitious names, ARE HEREBY ORDERED to:
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Immediately desist and refrain from performing any acts within the State of California
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for which a mortgage loan originator license endorsement is required, unless and until you obtain
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a mortgage loan originator license endorsement issued by the Bureau.
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II. As to HAMILTON and MILESTONE
N
Based on the Findings of Fact and Conclusions of Law stated herein, HAMILTON and
w MILESTONE, whether doing business under your own name, or any other names or fictitious
4
names, ARE HEREBY ORDERED to:
(1) Immediately desist and refrain from performing any acts within the State of
California for which a real estate broker license is required unless and until you
7
obtain the appropriate license issued by the Bureau; and
8
(2) Immediately desist and refrain from performing any acts within the State of
10 California for which a real estate broker license and mortgage loan originator
license endorsement are required, unless and until you obtain the appropriate
12
license issued by the Bureau and a mortgage loan originator license endorsement
13
issued by the Bureau.
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15 APR 2 3 2015
DATED:
16
REAL ESTATE COMMISSIONER
17
18
19
20
By: JEFFREY MASON
21 Chief Deputy Commissioner
22
23
- NOTICE-
24 Business and Professions Code Section 10139 provides that "Any person acting as a real estate
broker or real estate salesperson without a license or who advertises using words indicating that
he or she is a real estate broker without being so licensed shall be guilty of a public offense
26
punishable by a fine not exceeding twenty thousand dollars ($20,000), or by imprisonment in the
county jail for a term not to exceed six months, or by both fine and imprisonment; or if a
27 corporation, be punished by a fine not exceeding sixty thousand dollars ($60,000)."
-5- 640
Preview
1 Sarah Shapero (Bar No. 281748) Jessica Adair (Bar No. 348364) 2 SHAPERO LAW FIRM ELECTRONICALLY 3 100 Pine St., Ste. 530 San Francisco, CA 94111 FILED Superior Court of California, 4 Telephone: (415) 273-8892 County of San Francisco Attorney for Plaintiffs, 05/30/2023 5 EDUARDO PANIAGUA Clerk of the Court ELENA ASTURIAS BY: RONNIE OTERO 6 Deputy Clerk 7 SUPERIOR COURT OF THE STATE OF CALIFORNIA 8 FOR THE COUNTY OF SAN FRANCISCO 9 Eduardo Paniagua and Elena Asturias, Case No.: CGC-18-571279 10 individuals, Plaintiffs, MOTION IN LIMINE NO. 3: TO 11 vs. ADMIT CERTAIN DOCUMENTS 12 INTO EVIDENCE Milestone Financial, LLC, a California 13 corporation, Bear Bruin Ventures, Inc. a California Corporation, William R. Stuart, an 14 individual, Carolyn Stuart, an individual, Zoe Hamilton, an individual, and DOES 1-100, 15 inclusive, Defendants 16 17 TO ALL PARTIES AND THEIR ATTORNEYS OF RECORD: 18 PLEASE TAKE NOTICE THAT that Plaintiff EDUARDO PANIAGUA will move the 19 Court in limine for an order admitting the attached two documents into evidence in this action. 20 Specifically, Plaintiff requests that Exhibit A (March 3, 2015, Order to Desist and Refrain) and 21 Exhibit B (April 27, 2015 Second Amended Order to Desist and Refrain) be admitted into 22 evidence. 23 This motion is based on the grounds that California courts permit all relevant evidence to be 24 admitted at trial unless the evidence’s probative value is substantially outweighed by its prejudice 25 and is further based upon this notice, attached memorandum of points and authorities, the 26 attached declaration of Sarah Shapero, upon all pleadings and documents filed in this matter, and 27 upon any other oral and/or documentary evidence that may be presented at the hearing of the 28 motion. 1 MOTION IN LIMINE 1 2 DATED: May 30, 2023 Respectfully submitted, 3 SHAPERO LAW FIRM 4 5 ______________________ 6 Sarah Shapero Jessica Adair 7 Attorneys for Plaintiff EDUARDO PANIAGUA 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2 MOTION IN LIMINE 1 POINTS AND AUTHORITIES 2 I. INTRODUCTION 3 Plaintiff seeks an order from the Court allowing the two attached Bureau of Real Estate 4 (“BRE”) Orders to Desist and Refrain into evidence at trial in this action. These BRE Orders 5 indicate that Defendants, at the time of the dealings with Plaintiff in 2014, had been ordered by 6 the Bureau of Real Estate to stop the exact actions that it was taking when dealing with Plaintiff, 7 ie, negotiating loans on real property without a broker and acting as a broker. This evidence 8 serves to impeach Mr. Stuart and Ms. Hamilton’s testimony and the probative value of this 9 evidence is not substantially outweighed by its probability of undue prejudice. 10 LEGAL ARGUMENT 11 Section 350 of the California Evidence Code permits only relevant evidence to be admitted at 12 trail. Relevant evidence is evidence “having any tendency in reason to prove or disprove any 13 disputed fact that is of consequence to the determination of the action.” (Cal. Evid. Code § 210) 14 The court has discretion to exclude evidence “if its probative value is substantially outweighed by 15 the probability that its admission will…create substantial danger of undue prejudice, or confusing 16 the issues, or of misleading the jury.” (Cal. Evid. Code § 352). 17 In the present case, Plaintiff seeks to admit into evidence two Orders to Desist and Refrain 18 from the BRE against Defendants Milestone, Stuart, Hamilton, and Bear Bruin. The Orders to 19 Desist and Refrain cite these defendants, in 2014, for acting as a real estate broker without a 20 license and soliciting borrowers for or negotiating loans in connection with loans secured directly 21 or collaterally by lines on real property, which is exactly the conduct that Plaintiff claimed was 22 done in 2014 by Defendants in originating Plaintiff’s loan. Furthermore, Plaintiff alleges that 23 Defendant should have informed Plaintiff about these orders but failed to do so when negotiating 24 the loan at issue in this case. Therefore, this information is extremely relevant and should be 25 admitted at trial in this action. This evidence is also more probative than prejudicial, as this 26 information has a tendency to prove that Defendants were not licensed at the time that it was 27 negotiating this loan with Plaintiff and, in fact, did not hold the proper license to make these types 28 of loans and that Defendants committed fraud in making the loan at issue. 3 MOTION IN LIMINE 1 I. CONCLUSION 2 For the foregoing reasons, the Court should grant Plaintiff’s Motion in Limine to introduce 3 relevant evidence should be granted. 4 5 DATED: May 30, 2023 Respectfully submitted, 6 SHAPERO LAW FIRM 7 8 ______________________ Sarah Shapero 9 Jessica Adair Attorneys for Plaintiff 10 EDUARDO PANIAGUA 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 4 MOTION IN LIMINE EXHIBIT A Slag BUREAU OF REAL ESTATE FILED P. O. Box 137007 N Sacramento, CA 95813-7007 MAR 1 3 2015 3 BUREAU OF REAL ESTATE Telephone: (916) 263-8672 4 By S. Black 5 STATE OF CALIFORNIA 10 BUREAU OF REAL ESTATE 11 To: CAROLYN TOBIASON STUART, No. H- 6235 SAC 12 WILLIAM ROBINSON STUART, ZOE REBECCA HAMILTON, ORDER TO DESIST AND REFRAIN 13 BEAR BRUIN VENTURES, INC. and (B&P Code Section 10086) 14 MILESTONE FINANCIAL, LLC. 15 16 The Commissioner of the California Bureau of Real Estate (Bureau) caused an 17 investigation to be made of the activities of CAROLYN TOBIASON STUART ("C. 18 STUART"), WILLIAM ROBINSON STUART ("W. STUART"), ZOE REBECCA 19 HAMILTON ("HAMILTON"), BEAR BRUIN VENTURES, INC., ("BEAR"), doing business 20 as "Page Mill Funding", and MILESTONE FINANCIAL, LLC ("MILESTONE"). Based on 21 that investigation, the Commissioner has determined that C. STUART, W. STUART, 22 HAMILTON, BEAR, and MILESTONE have engaged in, are engaging in, or are attempting to 23 engage in, acts or practices constituting violations of the California Business and Professions 24 Code (Code) and/or Title 10, Chapter 6, California Code of Regulations (Regulations), 25 including the business of, acting in the capacity of, and/or advertising or assuming to act as, a 26 real estate broker in the State of California within the meaning of Sections 10130 (act as a real 27 estate broker without a license), 10131(d) (solicits borrowers or lenders for or negotiates loans -1- 630 or collects payments or performs services for borrowers or lenders or note owners in connection N with loans secured directly or collaterally by liens on real property or on a business w opportunity), and/or 10166.02(b) (failing to obtain a mortgage loan originator license endorsement) of the Code. Furthermore, based on the investigation, the Commissioner hereby U issues the following Findings of Fact, Conclusions of Law, and Desist and Refrain Order under the authority of Section 10086 of the Code. Whenever acts referred to below are attributed to BEAR, "Page Mill Funding" 00 and/or MILESTONE, those acts are alleged to have been done by C. STUART, W. STUART, and/or HAMILTON, acting by themselves, or by and/or through one or more agents, associates, 10 affiliates, and/or co-conspirators, and using the name BEAR, "Page Mill Funding" and/or 11 MILESTONE, or other names or fictitious names unknown at this time. 12 FINDINGS OF FACT 13 1. At all times mentioned, C. STUART has been licensed by the Bureau as 14 a real estate broker. At no time mentioned has C. STUART obtained a mortgage loan 15 originator license endorsement. 16 2. At all times mentioned, W. STUART has been licensed by the Bureau as 17 a real estate salesperson. At no time mentioned has W. STUART obtained a mortgage loan 18 originator license endorsement. 19 3. HAMILTON has been licensed by the Bureau as a real estate 20 salesperson. On December 22, 2004, HAMILTON's real estate salesperson license expired 21 and said license has not been renewed or reinstated. At no time mentioned has HAMILTON 22 obtained a mortgage loan originator license endorsement. 23 BEAR is a corporation in the State of California, with a primary place of 24 business located at 2626 Hanover St., Palo Alto, CA 94304. At all times mentioned, BEAR 25 has been licensed by the Bureau as a corporate real estate broker. At no time mentioned, has 26 BEAR obtained a mortgage loan originator license endorsement. At all times mentioned, 27 BEAR was doing business as Page Mill Funding. -2- 631 5. MILESTONE is a corporation in the State of California, with a primary 2 place of business located at 4970 El Camino Real #230, Los Altos, CA 94022. At no time 3 herein mentioned was MILESTONE licensed by the Bureau in any capacity. At no time 4 mentioned, has MILESTONE obtained a mortgage loan originator license endorsement. 6. During the period of time set forth below, C. STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited borrowers or lenders for or negotiated loans or 7 collected payments or performed services for borrowers or lenders or note owners in connection with loans secured directly or collaterally by liens on real property or on a business opportunity. 7. In or about March, 2014, MILESTONE solicited and/or offered borrowers 10 lending services through a flier which stated that MILESTONE is a "Wholesale Direct Lender" 11 offering "Fast Quotes", "Fast Closings" and "Competitive Rates". The MILESTONE flier is 12 attached hereto and is incorporated herein by reference as Exhibit "A". 13 8. The flier discussed above in Paragraph 7 also advertised a website for 14 MILESTONE at www.milestonelender.com. The website indicates that MILESTONE is "In the 15 business of originating or purchasing loans secured by California real estate." Additionally, the 16 website states that W. STUART "serves as the President of Page Mill Funding, a licensed real 17 estate broker and manager of Milestone", and that C. STUART is the "DRE broker for 18 Milestone." 19 9. Between June 10, 2014 and July 1, 2014, a Special Investigator for the 20 Bureau's Sacramento District Office ("Investigator") engaged in email correspondence with 21 HAMILTON, acting on behalf of MILESTONE. Within the course of the email 22 correspondence, HAMILTON solicited mortgage loan originator activity on behalf of 23 MILESTONE and arranged to meet the Investigator with the purpose of negotiating a 24 residential mortgage loan refinance agreement. 25 10. On or about July 2, 2014, the Investigator met with HAMILTON at the 26 MILESTONE office address advertised on the MILESTONE flier (See Exhibit "A".) At the 27 meeting, HAMILTON, acting on behalf of MILESTONE, solicited and/or offered to negotiate - 3- 632 the terms and rates of a residential mortgage loan refinance with the Investigator concerning a N piece of real property located within the State of California. CONCLUSIONS OF LAW 1. Based on the findings of fact contained in paragraphs 1 through 10, C. STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited, offered, and/or negotiated terms of a residential mortgage loan for one or more borrowers without obtaining a mortgage loan originator license endorsement in violation of Section 10166.02(b) of the Code. 2. Based on the Findings of Fact contained in Paragraphs 9 through 10, HAMILTON has performed and/or participated in mortgage loan activities which require a real 10 estate license under Code Sections 10130 and 10131(b) during a period of time when 11 HAMILTON's real estate salesperson license was expired. 12 3. Based on the Findings of Fact contained in Paragraphs 9 through 10, 13 MILESTONE has performed and/or participated in mortgage loan activities which require a real 14 estate license under Code Sections 10130 and 10131(b) during a period of time when 15 MILESTONE was not licensed by the Bureau in any capacity. 16 DESIST AND REFRAIN ORDER 17 Based on the Findings of Fact and Conclusions of Law stated herein, C. 18 STUART, W. STUART, HAMILTON, BEAR, and MILESTONE, whether doing business under 19 your own name, or any other names or fictitious names, ARE HEREBY ORDERED to: 20 Immediately desist and refrain from performing any acts within the State of 21 California for which a real estate broker license and/or mortgage loan originator license 22 endorsement is required. In particular, you are ordered to desist and refrain from soliciting 23 borrowers and/or performing services for borrowers or lenders in connection with loans secured 24 25 26 27 -4- 633 directly or collaterally by one or more liens on real property, unless and until you obtain a real 2 estate broker license and a mortgage loan originator license endorsement issued by the Bureau. w DATED: FEBRUARY 15, 2015 4 REAL ESTATE COMMISSIONER 5 6 By: JEFFREY MASON Chief Deputy Commissioner 10 NOTICE- Business and Professions Code Section 10139 provides that "Any person acting as a real estate 11 broker or real estate salesperson without a license or who advertises using words indicating that he or she is a real estate broker without being so licensed shall be guilty of a public offense 12 punishable by a fine not exceeding twenty thousand dollars ($20,000), or by imprisonment in the 13 county jail for a term not to exceed six months, or by both fine and imprisonment; or if a corporation, be punished by a fine not exceeding sixty thousand dollars ($60,000)." 14 15 16 17 18 19 20 21 22 23 24 25 26 27 -5- 634 EXHIBIT B BUREAU OF REAL ESTATE N w P. O. Box 137007 Sacramento, CA 95813-7007 FILED APR 2 7 2015 Telephone: (916) 263-8672 BUREAU OF REAL ESTATE By XJust a 00 STATE OF CALIFORNIA 10 BUREAU OF REAL ESTATE 11 To: CAROLYN TOBIASON STUART, No. H- 6235 SAC 12 WILLIAM ROBINSON STUART, ZOE REBECCA HAMILTON, SECOND AMENDED 13 BEAR BRUIN VENTURES, INC. and ORDER TO DESIST AND REFRAIN (B&P Code Section 10086) 14 MILESTONE FINANCIAL, LLC. 15 16 The Commissioner of the California Bureau of Real Estate (Bureau) caused an 17 investigation to be made of the activities of CAROLYN TOBIASON STUART ("C. 18 STUART"), WILLIAM ROBINSON STUART ("W. STUART"), ZOE REBECCA 19 HAMILTON ("HAMILTON"), BEAR BRUIN VENTURES, INC., ("BEAR"), doing business 20 as "Page Mill Funding", and MILESTONE FINANCIAL, LLC ("MILESTONE"). Based on 21 that investigation, the Commissioner has determined that C. STUART, W. STUART, 22 HAMILTON, BEAR, and MILESTONE have engaged in, are engaging in, or are attempting to 23 engage in, acts or practices constituting violations of the California Business and Professions 24 Code (Code) and/or Title 10, Chapter 6, California Code of Regulations (Regulations), 25 including the business of, acting in the capacity of, and/or advertising or assuming to act as, a 26 real estate broker in the State of California within the meaning of Sections 10130 (act as a real 27 estate broker without a license), 10131(d) (solicits borrowers or lenders for or negotiates loans -1- 636 or collects payments or performs services for borrowers or lenders or note owners in connection N with loans secured directly or collaterally by liens on real property or on a business opportunity), and/or 10166.02(b) (failing to obtain a mortgage loan originator license endorsement) of the Code. Furthermore, based on the investigation, the Commissioner hereby U issues the following Findings of Fact, Conclusions of Law, and Desist and Refrain Order under 6 the authority of Section 10086 of the Code. Whenever acts referred to below are attributed to BEAR, "Page Mill Funding" and/or MILESTONE, those acts are alleged to have been done by C. STUART, W. STUART, and/or HAMILTON, acting by themselves, or by and/or through one or more agents, associates, 10 affiliates, and/or co-conspirators, and using the name BEAR, "Page Mill Funding" and/or 11 MILESTONE, or other names or fictitious names unknown at this time. 12 FINDINGS OF FACT 13 1. At all times mentioned, C. STUART has been licensed by the Bureau as 14 a real estate broker. At no time mentioned has C. STUART obtained a mortgage loan 15 originator license endorsement. 16 2. At all times mentioned, W. STUART has been licensed by the Bureau as 17 a real estate salesperson. At no time mentioned has W. STUART obtained a mortgage loan 18 originator license endorsement. 19 3. HAMILTON has been licensed by the Bureau as a real estate 20 salesperson. On December 22, 2004, HAMILTON's real estate salesperson license expired 21 and said license has not been renewed or reinstated. At no time mentioned has HAMILTON 22 obtained a mortgage loan originator license endorsement. 23 4. BEAR is a corporation in the State of California, with a primary place of 24 business located at 2626 Hanover St., Palo Alto, CA 94304. At all times mentioned, BEAR 25 has been licensed by the Bureau as a corporate real estate broker. At no time mentioned, has 26 BEAR obtained a mortgage loan originator license endorsement. At all times mentioned, 27 BEAR was doing business as Page Mill Funding. - 2. 637 5. MILESTONE is a corporation in the State of California, with a primary 2 place of business located at 4970 El Camino Real #230, Los Altos, CA 94022. At no time 3 herein mentioned was MILESTONE licensed by the Bureau in any capacity. At no time mentioned, has MILESTONE obtained a mortgage loan originator license endorsement. 6. During the period of time set forth below, C. STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited borrowers or lenders for or negotiated loans or 7 collected payments or performed services for borrowers or lenders or note owners in connection with loans secured directly or collaterally by liens on real property or on a business opportunity. 7. In or about March, 2014, MILESTONE solicited and/or offered borrowers 10 lending services through a flier which stated that MILESTONE is a "Wholesale Direct Lender" 11 offering "Fast Quotes", "Fast Closings" and "Competitive Rates". The MILESTONE flier is 12 attached hereto and is incorporated herein by reference as Exhibit "A". 13 8. The flier discussed above in Paragraph 7 also advertised a website for 14 MILESTONE at www.milestonelender.com. The website indicates that MILESTONE is "In the 15 business of originating or purchasing loans secured by California real estate." Additionally, the 16 website states that W. STUART "serves as the President of Page Mill Funding, a licensed real 17 estate broker and manager of Milestone", and that C. STUART is the "DRE broker for 18 Milestone." 10 9. Between June 10, 2014 and July 1, 2014, a Special Investigator for the 20 Bureau's Sacramento District Office ("Investigator") engaged in email correspondence with 21 HAMILTON, acting on behalf of MILESTONE. Within the course of the email 22 correspondence, HAMILTON solicited mortgage loan originator activity on behalf of 23 MILESTONE and arranged to meet the Investigator with the purpose of negotiating a 24 residential mortgage loan refinance agreement. 25 10. On or about July 2, 2014, the Investigator met with HAMILTON at the 26 MILESTONE office address advertised on the MILESTONE flier (See Exhibit "A".) At the 27 meeting, HAMILTON, acting on behalf of MILESTONE, solicited and/or offered to negotiate - 3- 638 the terms and rates of a residential mortgage loan refinance with the Investigator concerning a N piece of real property located within the State of California. w CONCLUSIONS OF LAW Based on the findings of fact contained in paragraphs 1 through 10, C. STUART, W. STUART, HAMILTON, BEAR, and MILESTONE solicited, offered, and/or 6 negotiated terms of a residential mortgage loan for one or more borrowers without obtaining a 7 mortgage loan originator license endorsement in violation of Section 10166.02(b) of the Code. 2. Based on the Findings of Fact contained in Paragraphs 9 through 10, 9 HAMILTON has performed and/or participated in mortgage loan activities which require a real 10 estate license under Code Sections 10130 and 10131(b) during a period of time when 11 HAMILTON's real estate salesperson license was expired. 12 3. Based on the Findings of Fact contained in Paragraphs 9 through 10, 13 MILESTONE has performed and/or participated in mortgage loan activities which require a real 14 estate license under Code Sections 10130 and 10131(b) during a period of time when 15 MILESTONE was not licensed by the Bureau in any capacity. 16 DESIST AND REFRAIN ORDER 17 18 I. As to C. STUART, W. STUART, and BEAR Based on the Findings of Fact and Conclusions of Law stated herein, 20 C. STUART, W. STUART, and BEAR, whether doing business under your own name, or any 21 other names or fictitious names, ARE HEREBY ORDERED to: 22 Immediately desist and refrain from performing any acts within the State of California 23 for which a mortgage loan originator license endorsement is required, unless and until you obtain 24 a mortgage loan originator license endorsement issued by the Bureau. 25 26 27 -4- 639 II. As to HAMILTON and MILESTONE N Based on the Findings of Fact and Conclusions of Law stated herein, HAMILTON and w MILESTONE, whether doing business under your own name, or any other names or fictitious 4 names, ARE HEREBY ORDERED to: (1) Immediately desist and refrain from performing any acts within the State of California for which a real estate broker license is required unless and until you 7 obtain the appropriate license issued by the Bureau; and 8 (2) Immediately desist and refrain from performing any acts within the State of 10 California for which a real estate broker license and mortgage loan originator license endorsement are required, unless and until you obtain the appropriate 12 license issued by the Bureau and a mortgage loan originator license endorsement 13 issued by the Bureau. 14 15 APR 2 3 2015 DATED: 16 REAL ESTATE COMMISSIONER 17 18 19 20 By: JEFFREY MASON 21 Chief Deputy Commissioner 22 23 - NOTICE- 24 Business and Professions Code Section 10139 provides that "Any person acting as a real estate broker or real estate salesperson without a license or who advertises using words indicating that he or she is a real estate broker without being so licensed shall be guilty of a public offense 26 punishable by a fine not exceeding twenty thousand dollars ($20,000), or by imprisonment in the county jail for a term not to exceed six months, or by both fine and imprisonment; or if a 27 corporation, be punished by a fine not exceeding sixty thousand dollars ($60,000)." -5- 640