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