Monthly Summary of Mortgage Activities Georgia Department of Banking and Finance 2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565 DECEMBER 2001 **NEWS RELEASE** Steve Bridges is retiring as Commissioner of the Georgia Department of Banking and Finance with over 30 years of services to the Department and State Government. Steve's last day at the Department will be Friday, January 18, 2002. Steve's retirement will be a short one as he has agreed to be CEO of the Community Bankers Association of Georgia and will begin March 1, 2002 in this capacity. The Department wishes Steve well in this new and exciting opportunity. Pursuant to O.C.G.A. 7-1-34 and with the approval of the Governor, Senior Deputy Commissioner David G. Sorrell has been named Acting Commissioner. David Sorrell has served the Department in many positions with almost 28 years of service. He has served as Senior Deputy Commissioner since 1997. He has also served as Deputy Commissioner for Supervision and Director of Administration. **IMPORTANT NOTE** DISTRIBUTING THE MONTHLY SUMMARY: Beginning January 2002, the Monthly Summary of Mortgage Activities will be emailed each month to licensees. The Department requests that all licensees provide the Department a valid email address in order that they may receive the Monthly Summary each month in a timely manner. For all other licensees, the Monthly Summary will be available on the Department's website http://www.state.ga.us/dbf/bulletins.html each month. This delivers the Mortgage Summary to you more rapidly and efficiently. If you have not already provided the Department with your email address, please contact the Mortgage Division at dbfmort@dbf.state.ga.us or at 770-986-1633 if you have any questions. Licenses issued in Georgia are subject to revocation, withdrawal or suspension. To verify the current status of a license call 770-986-1269 or check our web site at http://www.state.ga.us/dbf/ The Division of Legal and Consumer Affairs, (770) 986-1007, handles consumer complaints regarding mortgage lenders and brokers and other entities regulated by the Department. PER LOAN FEES - "Per loan" fees for the second half of 2001 are due by March 1, 2002. If you hold a Georgia Residential Mortgage Lender license, you will be mailed a "per loan" fee reporting form in the near future. Please use this form to remit your fees. Regardless of the volume of loans (even "0" loans closed), you should send in the fee report. If you are a licensed mortgage broker or if you are exempt from licensing or registration a copy of the "per loan" fee reporting form can be found on our website or in Rule 80-5-1-.04 (2) issued by this Department. The fine for late filing of your Per Loan Fees is $1,000. These fines will be posted to the delinquent licensees. If you do not close the loan in your name, and your name is not on the security deed - you do not owe any "per loan" fees. . Proper payment of these fees will be monitored by our examination team. CEASE AND DESIST ORDERS ISSUED - DECEMBER Collins, Steve, LaFayette, GA - Cease and Desist Order issued 11-05-01 for conducting business without a mortgage license, and became final12-05-01. Dynasty Mortgage, Columbia, SC - Cease and Desist Order issued 11-05-01 for conducting business without a mortgage license, and became final 12-05-01. Robinson, Ann, LaFayette, GA - Cease and Desist Order issued 11-05-01 for conducting business without a mortgage license, and became final 12-05-01. PLEASE NOTE: Robley Rigdon has returned to his duties as Deputy Commissioner for Mortgage after a one year assignment as Assistant Division Commander in NATO's Multi National Division in Bosnia with the Georgia National Guard. Robley resumed his full time duties as of November 1, 2001. Drexel Beck has resumed his duties as Director for Mortgage with responsibility for the field examiners and regulatory matters. The Department congratulates Robley on a job well done in Bosnia and welcomes him back. LICENSEES/REGISTRANTS REVOKED, EXPIRED, SUSPENDED, WITHDRAWN OR DENIED IN DECEMBER 2001 ID# NAME CODE REVOKED EXPIRED SUSPENDED WITHDRAWN 5832 HARVEST MTG CO INC LD 12/18/2001 5923 STANDARD MTG CORP OF RD 12/28/2001 12095 TITLE WEST MTG INC LD 12/04/2001 12748 WASHINGTON MTG SVCS LD 12/28/2001 13095 MTG SPECIALISTS INC BD 12/17/2001 13405 POSITIVE MTG INC LD 12/28/2001 13423 AMERICAN DOLLAR BD 12/31/2001 14057 UPI MORTGAGE BD 12/31/2001 15234 VERITY LENDING SVCS BD 12/28/2001 15692 VERTICAL LEND INC BD 12/31/2001 16298 AMERICAN 1ST MTG LOAN BD 12/10/2001 16518 PRINCETON FINL CORP BD 12/18/2001 16825 MORTGAGE ZONE, INC. BD 12/21/2001 DENIED TOTAL: 13 ID# ISSUE DATE FINE REASON 6285 12/12/2001 UL 6756 12/10/2001 UL 6756 12/10/2001 B&R 6756 12/10/2001 B&R 6756 12/10/2001 B&R 7193 12/04/2001 B&R 12123 12/12/2001 1099 12123 12/12/2001 B&R 14903 12/12/2001 B&R 14903 12/12/2001 FILE 15300 12/04/2001 FILE 15300 12/04/2001 B&R 15300 12/04/2001 B&R 15433 12/04/2001 UL 15583 12/05/2001 AUD 16112 12/04/2001 B&R FINES ASSESSED IN DECEMBER 2001 FINE PAID DATE COMPANY NAME $1000. Financial Mortgage Center, Inc. $2000. Carrington Funding Corporation $500. Carrington Funding Corporation $500. Carrington Funding Corporation $500. Carrington Funding Corporation $500. 12/12/2001 Financial Guidance Advisors, Inc. $1000. VKI, Inc. $500. VKI, Inc. $500. 12/26/2001 Your Choice Financial Services, Inc. $500. 12/26/2001 Your Choice Financial Services, Inc. $1000. Alta Financial Corporation $500. Alta Financial Corporation $500. Alta Financial Corporation $1000. 01/09/2002 Advantage Plus Mortgage Corp. $1000. 12/13/2001 Mortgage Now, Inc. $ 500 01/14/2002 Absolute Financial Services, Inc. CITY ST Fayetteville GA Tucker GA Tucker GA Tucker GA Tucker GA Sharpsburg GA Atlanta GA Atlanta GA Kennesaw GA Kennesaw GA Marietta GA Marietta GA Marietta GA Augusta GA Brooklyn Heights OH Jasper GA 1099 AUD B&R BR CD CIC EMP FEE FEL *FINE REASON 1099 employees Audit Books & records Unapproved branch Violation of Cease & Desist Order Acq. of 25% ownership without approval Employer under C&D or revocation $6.50 fees not paid Employment of a felon FILE LAR NSF REL REN UL OTH Loan files not properly maintained Late filing Written Annual Report Check returned for insufficient funds Relocation of office without notice Renewal filed late Doing business with unlicensed entity Miscellaneous other LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN DECEMBER 2001 ID# COMPANY NAME CITY ST MB ORIGINAL RENEWAL CODE APPROVAL 16764 Kurt Bradley Williams AUSTELL GA B 12/07/2001 12/07/2001 16785 Calusa Investments, LLC CHANTILLY VA L 12/07/2001 12/07/2001 16907 Madison Mortgage Corporation SMYRNA GA L 12/07/2001 12/07/2001 16911 EliteAgents, Inc. FAIRFIELD NJ L 12/07/2001 12/07/2001 16941 Chris L. Collins STATESBORO GA B 12/07/2001 12/07/2001 16943 Sheer Mortgage, Inc SNELLVILLE GA B 12/07/2001 12/07/2001 16952 Everett Elmo White MARIETTA GA B 12/07/2001 12/07/2001 16953 Lamonte Glenn Lucas ATLANTA GA B 12/07/2001 12/07/2001 16954 Faith Promise, Inc. SAVANNAH GA B 12/07/2001 12/07/2001 16799 Mortgage Resources of America, CUMMING GA B 12/14/2001 12/14/2001 16894 IMPACT LENDING, INC. NEW PORT FL L 12/14/2001 12/14/2001 16924 Faith Mortgage Corporation COVINGTON GA B 12/14/2001 12/14/2001 16937 Harry M. Abbate MARIETTA GA B 12/14/2001 12/14/2001 16959 Peggy Rowe Hosey CARROLLTON GA B 12/14/2001 12/14/2001 16961 SouthMor Mortgage Corporation MEMPHIS TN L 12/14/2001 12/14/2001 16963 Leucretia R. Stephens BAINBRIDGE GA B 12/14/2001 12/14/2001 16968 South Georgia Mortgage STATESBORO GA B 12/14/2001 12/14/2001 16972 Savannah Discount Housing, Inc. SAVANNAH GA B 12/14/2001 12/14/2001 16980 Heartland Lending, Inc MARIETTA GA B 12/14/2001 12/14/2001 16981 Amass Loan Center, LLC ATLANTA GA B 12/14/2001 12/14/2001 16983 Katherine Denise Lankford LITHONIA GA B 12/14/2001 12/14/2001 16987 Paul Mark W ood CARTERSVILLE GA B 12/14/2001 12/14/2001 16859 Equity Lenders, Inc. WHITE GA B 12/21/2001 12/21/2001 16913 Bancom Financial Services, Corp. MIAMI FL B 12/21/2001 12/21/2001 16932 SouthEastern Capital Mortgage, OXFORD AL B 12/21/2001 12/21/2001 16936 Allstate Equity Mortgage, Inc. WOODSTOCK GA B 12/21/2001 12/21/2001 16962 Amy M. Houtchens 16974 Novelle Financial Services, Inc. ATLANTA GA B NEWPORT BEACH SCCA L 12/21/2001 12/21/2001 12/21/2001 12/21/2001 16990 Carroll Len McDade SMYRNA GA B 12/21/2001 12/21/2001 16991 Patricia L. McDorman SNELLVILLE GA B 12/21/2001 12/21/2001 16996 Cynthia Hogan Dent AUGUSTA GA B 12/21/2001 12/21/2001 16997 Ronald William Pilgrim AUGUSTA GA B 12/21/2001 12/21/2001 16998 Jason Royce Chandler CARROLLTON GA B 12/21/2001 12/21/2001 16999 Intell Mortgage Services, Inc. DULUTH GA B 12/21/2001 12/21/2001 17000 Dwayne P. McDorman SNELLVILLE GA B 12/21/2001 12/21/2001 17011 Southeast Funding Associates, ATLANTA GA B 12/21/2001 12/21/2001 16866 Carolyn Pamela Griffin UNION CITY B 12/28/2001 12/28/2001 16935 Home Source Mortgage SPARTANBURG L 12/28/2001 12/28/2001 16978 Melinda Drew ACWORTH GA B 12/28/2001 12/28/2001 16984 Metrociti Mortgage, LLC ENCINO CA L 12/28/2001 12/28/2001 17002 Loan & Mortgage Network, Inc. AMES IA B 12/28/2001 12/28/2001 17010 G Squared Financial, LLC ATLANTA GA B 12/28/2001 12/28/2001 17021 Old Barrister Mortgage, LLC ATLANTA GA B 12/28/2001 12/28/2001 17022 Angela Nile Yu MCDONOUGH GA B 12/28/2001 12/28/2001 7504 Shabtay Varon ATLANTA GA B 12/15/1995 12/14/2001 15272 Turner Mortgage Company, LLC DUBLIN GA B 01/14/2000 12/28/2001 REINSTATED 12/14/2001 12/28/2001 TOTAL: 46 B = BROKER L = LENDER R = REGISTRANT * Upgrade Broker to Lender + Downgrade Lender to Broker # Upgrade Lender to Registrant