Monthly Summary of Mortgage Activities Georgia Department of Banking and Finance 2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565 FEBRUARY 2002 SUMMARY OF ACTIVITIES - MORTGAGE DIVISION ---------------------------------------------------------------------------------------------------------------------------------------------------**IMPORTANT NOTES** STAFF CHANGES Melinda G. Kinard has joined the Mortgage Division as Director of Mortgage Licensing and Administration. Melinda has been with the Department since 1978. She began service with the Department as a bank and information systems examiner in the Albany, Ga field office. She moved to Atlanta in 1983 and worked actively with the Department's information systems. She has served as the Director of Information Systems and Training for the Department before joining the Division. 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/mortgage.html PER LOAN FEES - "Per loan" fees for the second half of 2001 were due by March 1, 2002. If you hold a Georgia Residential Mortgage Lender license, you were mailed a "per loan" fee reporting form. 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. NOTICE OF NON-COMPLIANCE FOR LICENSE RENEWALS Any renewal application received by the Department which does not contain all of the required information or documentation will be returned to the applicant for correction. These notices will be made either by fax, e-mail or by regular U.S.Postal Service mail. The Department will rely on the most recent fax number, e-mail address or mailing address which we have been given by the licensee as to where to send this notice. If you prefer or require your notice to be sent by U.S.Postal Service mail, please send a a stamped, self addressed envelope in with your renewal application. LICENSEES/REGISTRANTS REVOKED, EXPIRED, SUSPENDED, WITHDRAWN OR DENIED IN FEBRUARY 2002 ID# 5649 7482 11427 13040 13253 13698 14337 14604 14665 14936 15279 16021 16053 16164 16783 16966 NAME CHASE MTG CO-WEST ROOMS WITH A VIEW INC ASSOCIATED MTG INC TURLEY, ROBERT L. MOBILE CONSULT INC EXCEL MTG & FINANCE CORP LAGUNA CAP MTG CORP VBH INC LAMONTE, DANNY L BUILDERS MTG GRP INC AMER FIDELITY FINL INC HOME CONSULTANTS INC CTMG OF GA INC ALL SOURCE MORTGAGE DANNY LUCAS INNVISION MTG, INC CODE RD BD RD BD BD BD LD BD BD BD BD LD BD BD BD LD REVOKED EXPIRED SUSPENDED 02/26/2002 02/05/2002 02/25/2002 02/05/2002 07/01/2001 WITHDRAWN 02/11/2002 02/15/2002 02/15/2002 02/20/2002 02/26/2002 02/26/2002 02/19/2002 02/26/2002 02/22/2002 02/26/2002 02/22/2002 02/01/2002 DENIED TOTAL: 16 FINES ASSESSED IN FEBRUARY 2002 ID# ISSUE DATE FINE REASON FINE PAID DATE COMPANY NAME CITY ST 6076 6076 02/26/2002 FEL 02/26/2002 1099 $1000. $ 1,000 Mortgage Group & Investments Co., Inc. (The) Cumming GA Mortgage Group & Investments Co., Inc. (The) Cumming GA 6076 6076 6076 6076 02/26/2002 02/26/2002 02/26/2002 02/26/2002 FILE B&R B&R B&R $1000. $500. $500. $500. Mortgage Group & Investments Co., Inc. (The) Cumming GA Mortgage Group & Investments Co., Inc. (The) Cumming GA Mortgage Group & Investments Co., Inc. (The) Cumming GA Mortgage Group & Investments Co., Inc. (The) Cumming GA 6076 6076 6414 6414 02/26/2002 02/26/2002 02/22/2002 02/22/2002 B&R BR 1013 B&R $500. $250. $3000. $2000. Mortgage Group & Investments Co., Inc. (The) Cumming GA Mortgage Group & Investments Co., Inc. (The) Cumming GA Jon Browne & Associates Financial Group, Inc. Lithonia GA Jon Browne & Associates Financial Group, Inc. Lithonia GA 6414 11855 11855 12111 02/22/2002 02/07/2002 02/07/2002 02/07/2002 FILE B&R B&R B&R $6000. $500. $500. $500. Jon Browne & Associates Financial Group, Inc. Lithonia GA Fidelity Mortgage Lending Services, Inc. Atlanta GA Fidelity Mortgage Lending Services, Inc. Atlanta GA Adrain Appling Macon GA 12111 12111 13303 14517 02/07/2002 02/07/2002 02/08/2002 02/22/2002 B&R 1013 B&R FEL $500. $1000. $500. $1000. 02/26/2002 02/26/2002 02/15/2002 Adrain Appling Adrain Appling Richard H. Jowers Remodel Atlanta, Inc. Macon GA Macon GA Cleveland GA Marietta GA 14517 15060 15060 15060 15255 02/22/2002 02/25/2002 02/25/2002 02/25/2002 02/07/2002 FILE UL B&R BR B&R $500. $1000. $500. $250. $500. 02/19/2002 Remodel Atlanta, Inc. Atlanta Mortgage & Realty, Inc. Atlanta Mortgage & Realty, Inc. Atlanta Mortgage & Realty, Inc. American Direct Mortgage, Inc. Marietta GA Lithonia GA Lithonia GA Lithonia GA Marietta GA 15684 15684 15684 15684 02/22/2002 02/22/2002 02/22/2002 02/22/2002 1099 B&R B&R FILE $1000. $500. $500. $500. McKinney Mortgage Group, Inc. McKinney Mortgage Group, Inc. McKinney Mortgage Group, Inc. McKinney Mortgage Group, Inc. Lithonia GA Lithonia GA Lithonia GA Lithonia GA 15789 15789 15853 15853 02/19/2002 02/19/2002 02/08/2002 02/08/2002 B&R FILE B&R B&R $500. $500. $500. $500. Equity Financial Mortgage, Inc. Equity Financial Mortgage, Inc. Northpoint Home Loans, Inc. Northpoint Home Loans, Inc. Tucker GA Tucker GA Atlanta GA Atlanta GA 15853 16092 16092 16099 02/08/2002 02/26/2002 02/26/2002 02/07/2002 B&R UL FILE B&R $500. $1000. $500. $500. Northpoint Home Loans, Inc. Premier Mortgage Funding, Inc. Premier Mortgage Funding, Inc. Tradewind Mortgage, LLC Atlanta GA Norcross GA Norcross GA Duluth GA 16099 16213 02/07/2002 B&R 02/14/2002 1099 $500. $1000. Tradewind Mortgage, LLC True Lending, Inc. Duluth GA Marietta GA LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN FEBRUARY 2002 ID# COMPANY NAME 16899 16982 17023 17030 17043 17061 17068 17069 17073 17074 17001 17014 17070 17075 17087 17088 17097 17100 17035 17051 17077 17091 17101 17102 17125 17063 17078 17089 17090 17106 17109 17113 17123 12365 14202 Streamline Financial , Inc. Paraiso, LLC Arnold A. Simpson Myun Kyu Pyo Central Funding, Inc. All American Loan Corporation, Inc Encore Credit Corporation Leonard Willis Atlanta Equity Mortgage, Inc. Myers National Mortgage Company, Inc. United States Mortgage and Finance, LLC Total Mortgage Services, LLC Renee Ryan Preferred Mortgage Corporation Southeastern Mortgage Solutions, Inc. Kelly Ann Kennett Victor James Tuszynski Blayne Algee Endeavor Capital, LLC Family America Mortgage Corp. SunCoast Mortgage, Inc Patio Pros, Inc. City First Mortgage, Inc. George H. Greene Joanna Marcella Jones American Mortgage Network, Inc. Benchmark Funding, Inc. Command Mortgage, LLC GenDu Mortgage Corp. Lenox Pointe Mortgage, Inc. Diane J. Mansolillo Designer Mortgage Services, Inc. Westfork Mortgage and Financial 1st Choice Financial Services, Ltd. Jesse Burchett CITY ST KENNESAW GA ATLANTA GA MARIETTA GA ALPHARETTA GA NORCROSS GA ACWORTH GA IRVINE CA MACON GA DUNWOODY GA OVERLAND PARK KS ATLANTA GA MILFORD CT CARTERSVILLE GA STONE MOUNTAIN GA ATLANTA GA DULUTH GA WARNER ROBINS GA STONE MOUNTAIN GA ATLANTA GA COCONUT GROVE FL POOLER GA ATLANTA GA ALPHARETTA GA ATLANTA GA ATLANTA GA WASHINGTON DC MARIETTA GA BAINBRIDGE GA ATLANTA GA ATLANTA GA SUWANEE GA CUMMINGS GA LITHIA SPRINGS GA TAMPA FL MARIETTA GA MB CODE B B B B B B L B B B B B B B B B B B L B B B B B B L L B B B B B B B B ORIGINAL APPROVAL 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 04/18/1997 04/16/1999 RENEWAL 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/01/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/08/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/15/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/22/2002 02/01/2002 02/22/2002 REINSTATED 02/01/2002 02/22/2002 TOTAL: 35 B = BROKER L = LENDER R = REGISTRANT + Downgrade Lender to Broker * Upgrade Broker to Lender