Monthly summary of mortgage activities, Jan. 2002

Monthly Summary of Mortgage Activities
Georgia Department of Banking and Finance
2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565
JANUARY 2002
**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 was 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: The Monthly Summary of Mortgage Activities is emailed each month to licensees. The Department requests that all licensees provide the Department a valid email address in order to receive the Monthly Summary each month in a timely manner. For all other licensees, the Monthly Summary is 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/
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.
The ANNUAL LICENSE RENEWAL process is now underway. Renewal application forms for the fiscal year 2003 mortgage licenses were distributed beginning February 7, 2002. A $300 late fine will be assessed against licensees who fail to return the renewal application form prior to April 1, 2002. As in prior years, all outstanding issues such as fines, fees, stale audits, complaint resolution, etc. must be resolved before your renewal license will be granted. Licensees who do not complete the renewal process by June 30, 2002, will have their licenses expire, and will have to cease operations. If you have not received your renewal application forms, please contact the Department immediately.
AUDITED FINANCIAL STATEMENTS - Lenders and some Brokers have licenses which are dependent upon the filing of current audited financial statements with this office. Those whose audits more than 15 months old may be subjected to fines and/or revocation of their license. It is the RESPONSIBILITY of the licensee, as professionals licensed to operate in the mortgage industry to insure that these audits are current AT ALL TIMES. Care must be taken to employ a CPA who has time to service your account in a manner so as to protect your license. Requests for an extension will not be granted. License renewals will not be granted for those licensees whose audits are not current. Please keep in mind that the net worth requirements in Georgia are predicated on tangible assets. Assets including but not limited to items such as "goodwill" and accounts "due from" shareholders, affiliated companies, directors or officers will not count as tangible assets.
FINAL CONSENT ORDER
New Start Mortgage, Inc., Macon, GA - Consent Order was issued on November 2, 2001. The agreement concerned doing business with unlicensed persons, improper loan documentation and failure to notify the Department of a change in management. This order became final on December 2, 2001.

LICENSEES/REGISTRANTS REVOKED, EXPIRED, SUSPENDED, WITHDRAWN OR DENIED IN JANUARY 2002

ID# NAME

CODE

REVOKED

EXPIRED

SUSPENDED

WITHDRAWN

5908 SELECTIVE FINL SERVS GA

BD

01/17/2002

6255 EQUITY FINL SVCS INC

BD

01/29/2002

7332 GEORGE, ALVIN T

BD

01/17/2002

7516 ATLANTIC POOL CORP

BD

01/17/2002

13384 MACON SAVINGS BK INC

RD

01/28/2002

13507 INTERCAP MTG CO LLC

BD

01/09/2002

13966 RITZ FINL INC

BD

01/04/2002

14065 JOINER, THOMAS G.

BD

01/07/2002

14202 BURCHETT, JESSE

BD

01/28/2002

14279 ASSOCIATES FUNDING GRP IN

BD

01/04/2002

15190 PEACHTREE MTG GRP INC

BD

01/28/2002

15409 SUPERIOR PATIO ENCLOSURE

BD

01/08/2002

16025 1ST BENEFICIAL MTG CORP

LD

01/09/2002

16318 ADVANCED FIRST FINL LLC

BD

01/08/2002

16331 ASH MTG CO INC

BD

01/23/2002

16755 ANDREW CHARLES MTG CO

BD

01/18/2002

16922 A.G. EDWARDS & SONS, INC

BD

01/25/2002

DENIED

TOTAL: 17

ID# COMPANY NAME 16928 Design Mortgage, LLC

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2002

CITY

ST

MB

ORIGINAL

CODE

APPROVAL

RENEWAL

ATLANTA

GA B

01/04/2002

01/04/2002

16955 Polk Business Services, Inc.

CEDARTOWN

GA B

01/04/2002

01/04/2002

16969 Unlimited Mortgage Group, Inc.

VALDOSTA

GA B

01/04/2002

01/04/2002

16926 Hil Smith

LITHONIA

GA B

01/11/2002

01/11/2002

16979 PDQ Mortgage Company (Texas)

SAN ANTONIO

TX

B

01/11/2002

01/11/2002

16986 Prime Home Mortgage, Inc

ST. AUGUSTINE

FL

L

01/11/2002

01/11/2002

16988 First Decision Mortgage, Inc

JEFFERSON

SC

B

01/11/2002

01/11/2002

16989 Tall Oaks Home Calhoun, LLC

CALHOUN

GA B

01/11/2002

01/11/2002

16993 Heritage Lending Group, Inc.

EVANS

GA B

01/11/2002

01/11/2002

17009 American Mortgage Union Inc.

DULUTH

GA B

01/11/2002

01/11/2002

17019 CVJ Services, Inc.

STONE

GA B

01/11/2002

01/11/2002

17026 Johnny Dean Bentley

LAWRENCEVILLE

GA B

01/11/2002

01/11/2002

17027 John Chung Sheng Yu

MCDONOUGH

GA B

01/11/2002

01/11/2002

17028 Home Equity Loan Products, Inc.

KENNESAW

GA B

01/11/2002

01/11/2002

16921 Sam Management Group, Inc.

MARIETTA

GA B

01/18/2002

01/18/2002

16985 TCIF, LLC

ARMONK

NY L

01/18/2002

01/18/2002

16995 NorthStar Financial Services, Inc.

DULUTH

GA B

01/18/2002

01/18/2002

17006 First American Financial

TUCKER

GA B

01/18/2002

01/18/2002

17020 MMBI, Inc.

SILVER SPRING

MD B

01/18/2002

01/18/2002

17029 First Preference Mortgage Corp.

WACO

TX

L

01/18/2002

01/18/2002

17036 Erica M. Bradley-Cooper

STONE

GA B

01/18/2002

01/18/2002

17038 Henry Brian Akers

STOCKBRIDGE

GA B

01/18/2002

01/18/2002

17040 Ram Mortgage Services, Inc.

DUNWOODY

GA B

01/18/2002

01/18/2002

14321 Piedmont Funding Group, LLC*

ATLANTA

GA L

02/19/1999

01/25/2002

16896 LoanCents Financial Services, Inc.

NORTH

SC

B

01/25/2002

01/25/2002

16944 Access America, Inc

CONYERS

GA B

01/25/2002

01/25/2002

17056 Marsha P. Tucker

ATLANTA

GA B

01/25/2002

01/25/2002

17059 Jacquelyn Woodhouse

LITHONIA

GA B

01/25/2002

01/25/2002

17066 Audrey Corbitt Sapp

COCHRAN

GA B

01/25/2002

01/25/2002

17067 Tremese Calandra Davis

LITHONIA

GA B

01/25/2002

01/25/2002

6133 William Brian Gamel 13569 PMCC Mortgage Corp. 14747 BJD Mortgage Company, Inc.

ROWELL ROCKVILLE JACKSONVILLE

GA B

NY L

FL

B

06/25/1993 06/05/1998 07/23/1999

01/18/2002 01/25/2002 01/25/2002

REINSTATED
01/18/2002 01/25/2002 01/25/2002

TOTAL: 33

B = BROKER L = LENDER R = REGISTRANT

* Upgrade Broker to Lender + Downgrade Lender to Broker # Upgrade Lender to Registrant

ID#

ISSUE DATE

FINE REASON

5725

01/10/2002 FEL

5725

01/10/2002 B&R

5977

01/25/2002 FEL

5977

01/25/2002 1099

5977

01/25/2002 UL

5977

01/25/2002 BR

5977

01/25/2002 B&R

5977

01/25/2002 B&R

5977

01/25/2002 B&R

5977

01/25/2002 B&R

7516

01/18/2002 B&R

7516

01/18/2002 B&R

7516

01/18/2002 B&R

7516

01/18/2002 B&R

7516

01/18/2002 B&R

7516

01/18/2002 FILE

7516

01/18/2002 1099

11525

01/23/2002 B&R

11864 12969

01/09/2002 FILE 01/28/2002 B&R

12969

01/28/2002 FILE

14113

01/24/2002 1099

14175

01/23/2002 UL

14175

01/23/2002 1013

14175

01/23/2002 FILE

14175

01/23/2002 B&R

14175

01/23/2002 B&R

14175

01/23/2002 B&R

14175

01/23/2002 BR

14175

01/23/2002 B&R

14337

01/18/2002 1013

14398 14398 14398 14398 14957

01/10/2002 B&R 01/10/2002 B&R 01/10/2002 B&R 01/10/2002 BR 01/18/2002 1099

14957

01/18/2002 B&R

14957

01/18/2002 FILE

14957

01/18/2002 BR

14957

01/18/2002 BR

15098

01/08/2002 B&R

15263 15263 15529

01/14/2002 B&R 01/14/2002 FILE 01/11/2002 B&R

15529

01/11/2002 FILE

15529

01/11/2002 FILE

15529

01/11/2002 BR

15569

01/08/2002 FILE

15569

01/08/2002 B&R

15611 15760 15760 15793

01/09/2002 B&R 01/11/2002 FILE 01/11/2002 B&R 01/09/2002 UL

16037 16055

01/08/2002 B&R 01/10/2002 FILE

16055

01/10/2002 B&R

16059

01/14/2002 FILE

16059

01/14/2002 FILE

16059

01/14/2002 B&R

16114

01/25/2002 UL

16114

01/25/2002 B&R

16114

01/25/2002 B&R

16131 16162

01/08/2002 FEE 01/10/2002 1013

16162

01/10/2002 OTH

16162

01/10/2002 B&R

16162

01/10/2002 FILE

16204

01/08/2002 B&R

16209

01/10/2002 FILE

16209

01/10/2002 B&R

16209

01/10/2002 B&R

16209

01/10/2002 B&R

FINES ASSESSED IN JANUARY 2002

FINE

PAID DATE

COMPANY NAME

$1000.

Mortgage Underwriters, Inc

$500.

Mortgage Underwriters, Inc

$5000.

Leadership Mortgage Services, Inc.

$13000.

Leadership Mortgage Services, Inc.

$2000.

Leadership Mortgage Services, Inc.

$250.

Leadership Mortgage Services, Inc.

$3500.

Leadership Mortgage Services, Inc.

$11500.

Leadership Mortgage Services, Inc.

$500.

Leadership Mortgage Services, Inc.

$1000.

Leadership Mortgage Services, Inc.

$500.

Atlantic Pool Corporation

$500.

Atlantic Pool Corporation

$500.

Atlantic Pool Corporation

$500.

Atlantic Pool Corporation

$500.

Atlantic Pool Corporation

$16500.

Atlantic Pool Corporation

$1000.

Atlantic Pool Corporation

$500.

Bulldog Mortgage Company, Inc.

$500. $500.

01/14/2002 Hallmark Mortgage, Inc. Congressional Mortgage Corporation, Inc.

$500.

Congressional Mortgage Corporation, Inc.

$1000.

T&G Guaranteed Mortgage Corp.

$3000.

Essex Limited, Inc.

$3000.

Essex Limited, Inc.

$6000.

Essex Limited, Inc.

$500.

Essex Limited, Inc.

$500.

Essex Limited, Inc.

$500.

Essex Limited, Inc.

$250.

Essex Limited, Inc.

$500.

Essex Limited, Inc.

$10000.

Laguna Capital Mortgage Corporation

$500. $500. $500. $250. $1000.

02/07/2002 American First Mortgage, LLC 02/07/2002 American First Mortgage, LLC 02/07/2002 American First Mortgage, LLC 02/07/2002 American First Mortgage, LLC
Home Savers, LLC

$500.

Home Savers, LLC

$500.

Home Savers, LLC

$250.

Home Savers, LLC

$250.

Home Savers, LLC

$500.

Wall Street Brokers, Inc.

$500. $500. $500.

02/04/2002 Crystal Mortgage, Inc. 02/04/2002 Crystal Mortgage, Inc.
Bill King's Mobile America, Inc.

$500.

Bill King's Mobile America, Inc.

$500.

Bill King's Mobile America, Inc.

$250.

Bill King's Mobile America, Inc.

$1000.

Woodbrook Mortgage Company, LLC

$500.

Woodbrook Mortgage Company, LLC

$500. $500. $500. $1000.

02/04/2002 Goodwill Brokers, Inc. 01/18/2002 Northpoint Capital, Inc. 01/18/2002 Northpoint Capital, Inc.
Millennium Capital, Inc.

$500. $500.

01/28/2002 Equitable Consulting, Inc. Greystone Mortgage Corporation

$500.

Greystone Mortgage Corporation

$500.

First Start Mortgage Corporation

$500.

First Start Mortgage Corporation

$500.

First Start Mortgage Corporation

$1000.

Diverse Financial Services, Inc.

$500.

Diverse Financial Services, Inc.

$500.

Diverse Financial Services, Inc.

$250. $2000.

01/17/2002 Interland Associates, Inc. Sun G, Inc.

$1000.

Sun G, Inc.

$500.

Sun G, Inc.

$6500.

Sun G, Inc.

$500.

Canton Street Mortgage Corporation

$500.

Caleb & Associates Mortgage, Inc

$500.

Caleb & Associates Mortgage, Inc

$500.

Caleb & Associates Mortgage, Inc

$500.

Caleb & Associates Mortgage, Inc

1099 AUD B&R BR CD CIC EMP FEE FEL

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

*FINE REASON
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

CITY

ST

Marietta

GA

Marietta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Jonesboro

GA

Jonesboro

GA

Jonesboro

GA

Jonesboro

GA

Jonesboro

GA

Jonesboro

GA

Jonesboro

GA

Marietta

GA

Atlanta

GA

Tucker

GA

Tucker

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Aliso Viejo

CA

Fort Oglethorpe

GA

Fort Oglethorpe

GA

Fort Oglethorpe

GA

Fort Oglethorpe

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Fayetteville

GA

Smyrna

GA

Smyrna

GA

Loganville

GA

Loganville

GA

Loganville

GA

Loganville

GA

Marietta

GA

Marietta

GA

Alpharetta

GA

Norcross

GA

Norcross

GA

Duluth

GA

Dunwoody

GA

KENNESAW

GA

KENNESAW

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Douglasville

GA

Douglasville

GA

Douglasville

GA

Savannah

GA

Norcross

GA

Norcross

GA

Norcross

GA

Norcross

GA

Roswell

GA

Marietta

GA

Marietta

GA

Marietta

GA

Marietta

GA