Monthly summary of mortgage activities, Jan. 2004

Monthly Summary of Mortgage Activities
Georgia Department of Banking and Finance
2990 Brandywine Road, Suite 200, Atlanta, GA 30341-5565
FOR THE PERIOD ENDING JANUARY 2004
SUMMARY OF ACTIVITIES - MORTGAGE DIVISION
WEBSITE: www.dbf.state.ga.us
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LICENSE RENEWALS - FY 2005
The ANNUAL LICENSE RENEWAL process is now underway, and beginning with this FY2005 licensing period, on-line web-based renewal applications are available to qualifying renewal applicants.
How does your company qualify? Qualifying applicants generally are those who do not have any outstanding administrative issues, fees or fines, and who have a current surety bond or letter of credit as a means of qualifying for their license. Licensees who rely on their net worth as a means to meet the financial standards for licensing must have a current audit on file, and the Department has to verify that the audit was performed by a Certified Public Accountant and that the net worth amount meets or exceeds the minimum required amount for that type of license. This requires Department review of the audits or audited information, and therefore these licenses can not be renewed on-line.
If you did qualify, you should have received an access code to use to access the on-line renewal system. The website for accessing the on-line renewal forms is: https://bkgfin.dbf.state.ga.us/mortgagedocs/FY2005renewal.html
If you have lost your code or feel that you meet the qualifications noted above but did not receive a code, please contact the Department at renewal@dbf.state.ga.us.
If you did not receive your renewal forms, please visit the Department's website at www.state.ga.us/dbf/mortgage_forms.html. The broker/processor and lender forms are available for download on that page in either Word or Adobe format.
Renewals, whether completed on-line or in hard-copy format, are due by April 1, 2004. Failure to properly file the renewal application will result in a $300 late fine. As in prior years, and for all licensees whether renewing on-line or by mail, all outstanding issues such as any 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, 2004, will have their licenses expire, and will have to cease operations.

The Department encourages licensees who qualify for the on-line renewal to take advantage of this process, which will reduce processing time, eliminate mailing concerns, and ensure quality data entry. Hopefully, a successful renewal program will enable the Department to provide more on-line functions regarding your license, such as address changes, fee payments, other license changes, etc., and we would like to thank you in advance for supporting the on-line automation efforts of the Department.
PER LOAN FEES - "Per loan" fees for the second half of 2003 are due by March 1, 2004. If you hold a Georgia Residential Mortgage Lender license, you should have received a Reporting Form in January 2004. Please use this form to remit your fees. Contact the Department or use the internet if you did not receive your form. 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; however, you should still send in the form reflecting "0" loans closed if that is the case. Proper payment of these fees will be monitored by our examination team. Failure to pay the fees may result in non-renewal of your license.
E- MAIL Worms
With the recent e-mail virus attacks, both the state's and the Department's Technology Departments have introduced stronger e-mail content filtering and blocking for incoming infected messages. As a result, many messages containing attachments have the attachments filtered, or often the entire message itself is deleted. If you are e-mailing the Department and you have not received a response in a day or two, please resend the message, being mindful of the SUBJECT line or other content that may be filtered by anti-virus programs.
RETIREMENT - JAMES F. MILLS
For those of you who had a chance to meet or work with Jim Mills, the Department wanted to let you know that after 34 years of dedicated State service, Jim has retired.
Jim was born in Birmingham, Alabama, but has lived most of his life in and around the Augusta and Savannah areas of Georgia. He graduated from Augusta College, and during his college career he worked in the banking industry, in addition to serving in the Army Reserves.
Jim began his career with the Department in 1971 as a bank examiner and quickly rose through the ranks to become a Senior Financial Examiner. In addition to his bank examination duties, Jim took on additional specialty areas of examination, such as Trust and Holding Company examinations, where he excelled and became the Department's lead examiner in the Trust field and also trained other examiners in the specialty.
Jim was recruited as an instructor and curriculum team member for the Trust Core Team with the Conference of State Bank Supervisors. As a team member he put his knowledge and training skills to work, developing curriculum and lesson plans used to train other examiners in the Trust regulatory field.
In 1998 Jim graciously agreed to offer his expertise to the Mortgage Division, where his knowledge of State laws and regulations, his examination experience, and his technical skills proved to be a major asset to the Division.
We wish Jim all the best in his retirement endeavors and he will certainly be missed.

GRAMM-LEACH-BLILEY ACT
The Gramm-Leach-Bliley Act requires that financial institutions protect the security and confidentiality of their customer's data. In that regard, the Safeguards Rule which applies to any business that is significantly engaged in providing financial products and services to consumers has been adopted by the Federal Trade Commission (FTC) It does apply to Mortgage Brokers and non-bank lenders and others. It is suggested that persons read the article detailed at http://www.ftc.gov/bcp/conline/pubs/buspubs/safeguards.htm and also view the content of www.ftc.gov/privacy/glbact . To find out whether your company is considered a "financial institution" under that act review Section 313.3 (k) of the FTC's privacy Rule.
COUNTERFEIT LICENSE FOR #13177
Someone is using a counterfeit FY 2004 "license" for #13177 - Carteret Mortgage Corporation. So far as we can determine, the person circulating this document is not affiliated with Carteret. The document is easy to spot as a fake since it, in no way, resembles an authentic license issued by this Department for 2004. Carteret did not receive any license for 2004 because they withdrew from operations in Georgia in May 2003. Please be on the lookout for this document (as well as other forgeries) and report any attempts to use it to this Department.
VERIFYING LICENSED ENTITIES
Rule 80-11-4-.05 of the Mortgage Division Rules states, in part, that it is the licensee's responsibility to "know" that it is conducting business with a licensed entity.
You run the risk of conducting business with an unlicensed entity if you do not verify the license. The fine for "dealing with unlicensed persons" under Rule 80-11-3-.01 (4) is $1,000 per transaction and your license shall be subject to suspension or revocation. Anyone who purchases, sells, places for processing or transfers a mortgage loan or loan application to or from a person who is required to be licensed but is not properly licensed will be fined.
You can check the license status of any licensee by going to the Department's web site at http://www.ganet.org/dbf/mortgage.html . From there you can check by entering the licensee's name, license number, or city, or leave the selection box blank and you will get a complete listing of licensees. There is also an option to download the entire list into an Excel spreadsheet.
CEASE AND DESIST ORDERS - Issued
American Advantage Mortgage Corporation, Atlanta, GA - Cease and Desist Order issued December 9, 2003 and became final on January 8, 2004, resulting in the expiration of that license.
Salisbury, Andy, Orange, CA - Cease and Desist Order issued December 22, 2003 and became final on January 17, 2004.
Skipper, Patsy C., Douglas, GA - Cease and Desist Order December 16, 2003 and became final on January 14, 2004.
CEASE AND DESIST ORDER - Lifted

D'Abate, Katherine L, Norcross, GA - Cease and Desist Order issued March 26, 2003 was LIFTED on December 19, 2003.
FINAL CONSENT ORDER
None
E-MAILING THE DEPARTMENT
The Department would like to encourage you to correspond with us using e-mail.
Providing written details in the e-mail regarding any questions or concerns you may have allows the Department to forward the request to the appropriate person who handles that area, and if sufficient details are provided in the request, that person can then more efficiently provide you an answer.
The e-mail address is dbfmort@dbf.state.ga.us
A detailed message which will be distributed to the proper individual will help us help you. In the event you still need additional information, please contact us by phone.
DISTRIBUTING THE MONTHLY SUMMARY
The Monthly Summary of Mortgage Activities is E-mailed each month to licensees. The Department requests that all licensees provide the Department a valid E-mail 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 E-mail 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/

LICENSEES/REGISTRANTS REVOKED, EXPIRED, SUSPENDED, WITHDRAWN OR DENIED IN JANUARY 2004

ID#
6968 7206 13081 13298 13815 14105 14642

NAME
WASHINGTON MUTUAL FIN GA MTG ASSOC GRP L&J INDUSTRIES INC ACM MTG CORP MYSTIKAL MTG GRP INC AMERUS HM LENDING INC BNB & ASSOC LLC

CODE
RD BD BD BD BD LD BD

REVOKED

EXPIRED

SUSPENDED

07/01/2002

WITHDRAWN
01/26/2004 01/15/2004 01/02/2004 01/01/2004 01/17/2004 01/09/2004 01/07/2004

DENIED

LICENSEES/REGISTRANTS REVOKED, EXPIRED, SUSPENDED, WITHDRAWN OR DENIED IN JANUARY 2004

ID#
15005 15199 16231 16413 16664 16682 17023 17207 17262 17428 17882

NAME
SKIPPER, PATSY C SALISBURY, ANDY RYALS, HERBERT D JR J & R FINL GRP INC BEST MTG & FINL SVCS INC WILLIAMS, SHIRLEY A ARNOLD A SIMPSON JR EQUIMAX MTG CORP AMER ADVANTAGE MTG HARRISON, ROBERT L GLOBALTECH FINL LLC

CODE
BD BD BD LD BD BD BD BD BD BD LD

REVOKED

EXPIRED
01/14/2004 01/17/2004

SUSPENDED

01/17/2004

01/05/2004

01/08/2004

WITHDRAWN
01/23/2004 01/07/2004 01/21/2004 01/16/2004
01/20/2004 01/14/2004

DENIED

TOTAL: 18

FINES ASSESSED IN JANUARY 2004

ID#
5919 5919 6181 6185 6234 6234 6234 6690 6690 6690 6690 7268 7268 12770 12770 12770 12770 12794 13204 13204 13204 13204

ISSUE DATE
01/08/2004 01/08/2004 01/22/2004 01/05/2004 01/16/2004 01/16/2004 01/16/2004 01/15/2004 01/15/2004 01/15/2004 01/15/2004 01/23/2004 01/23/2004 01/15/2004 01/15/2004 01/15/2004 01/15/2004 01/15/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004

FINE
$1000. $500. $500.
$1000. $1000. $1000. $2000. $1000. $1000. $1000. $1000.
$500. $1000. $13000. $1000. $1000.
$500. $1000.
$500. $2000. $1000. $1000.

PAID DATE
01/30/2004

COMPANY NAME
Infinity Mortgage Corporation Infinity Mortgage Corporation Mortgage South Lenders, Inc. Flexible Solutions, Inc. Home Mortgage Corporation Home Mortgage Corporation Home Mortgage Corporation Tri Star Mortgage, Inc. Tri Star Mortgage, Inc. Tri Star Mortgage, Inc. Tri Star Mortgage, Inc. Ameron Mortgage Corporation Ameron Mortgage Corporation Money Tree Mortgage Inc. Money Tree Mortgage Inc. Money Tree Mortgage Inc. Money Tree Mortgage Inc. Riviera Mortgage, LLC Southern Heritage Homes, Inc. Southern Heritage Homes, Inc. Southern Heritage Homes, Inc. Southern Heritage Homes, Inc.

CITY

ST

Atlanta

GA

Atlanta

GA

Marietta

GA

Jonesboro

GA

Atlanta

GA

Atlanta

GA

Atlanta

GA

Lilburn

GA

Lilburn

GA

Lilburn

GA

Lilburn

GA

Marietta

GA

Marietta

GA

Woodstock

GA

Woodstock

GA

Woodstock

GA

Woodstock

GA

Douglasville

GA

Warner Robins

GA

Warner Robins

GA

Warner Robins

GA

Warner Robins

GA

FINES ASSESSED IN JANUARY 2004

ID#

ISSUE

DATE

FINE

PAID DATE

COMPANY NAME

CITY

ST

13326

01/14/2004

$5000.

American Mortgage Investors, Corporation

Smyrna

GA

13326

01/14/2004

$1000.

American Mortgage Investors, Corporation

Smyrna

GA

13326

01/14/2004

$5000.

American Mortgage Investors, Corporation

Smyrna

GA

13326

01/14/2004

$39000.

American Mortgage Investors, Corporation

Smyrna

GA

14122

01/23/2004

$1000.

First Community Mortgage Company, Inc.

Alpharetta

GA

14251

01/16/2004

$1000.

Znet Financial, LLC

Atlanta

GA

14251

01/16/2004

$1000.

Znet Financial, LLC

Atlanta

GA

14516

01/27/2004

$2000.

01/27/2004 Americorp Credit Corporation

Temecula

CA

15307 17415 17415 17415

01/26/2004 01/26/2004 01/26/2004 01/26/2004

$5000. $1000. $1000.
$500.

01/26/2004

BMTLoans.com, Inc. A & L Mortgage, Inc. A & L Mortgage, Inc. A & L Mortgage, Inc.

Sunrise

FL

Cochran

GA

Cochran

GA

Cochran

GA

17568

01/16/2004

$2000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$3000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$1000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$2000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$2000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$7000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

17568

01/16/2004

$1000.

Consumer Mortgage Finance Corp., Inc.

Decatur

GA

FINE REASON

1 Licensee fined for Prohibited Acts

4 Licensees fined for Advertising violation

14 Licensees fined for violation of Books & Records

4 Licensees fined for Background Check violation

1 Licensee fined for Acq. of 25% ownership without approval 1 Licensee fined for failure to submit to an Exam

1 Licensee fined for $6.50 fees not paid

1 Licensee fined for GAFLA violation

10 Licensees fined for loan filles not properly maintained

1 Licensee fined for unapproved branch managers

3 Licensees fined for doing business with unlicensed entity

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2004

ID# COMPANY NAME

CITY

18877 18973 11768 18697 18823

American DreamHome SAT Lending, Inc. Maximum Property Svcs, Inc. * LoanApp, Inc. Principal Mortgage Corporation

MCRAE NORCROSS LAVONIA SAN JOSE WOODSTOCK

ST MB CODE
GA B GA B GA L CA B GA B

ORIGINAL APPROVAL
01/02/2004 01/02/2004 07/19/1996 01/09/2004 01/09/2004

RENEWAL
01/02/2004 01/02/2004 01/09/2004 01/09/2004 01/09/2004

REINSTATED

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2004

ID# COMPANY NAME

CITY

18915 18976 18989 19037 19049 19094 18765 18999 19011 19014 19016 19020 19021 19022 19024 19059 19063 19066 19069 19071 19072 19074 19075 19096 19102 12348 15307 17314 18646 18936 18957 19010 19048 19053 19061 19062 19065 19067 19068 19078 19081 19093 19101 19107 19109 19112

Best Rates Nationwide Family Home Lending Lifestyle Mortgage Holdings, Inc. First Lending Source, Inc. Ameristate Bancorp, Inc. Windsor Financial, LLC Beacon Mortgage Financial Sharon L. Sparrow First Union Mortgage, Inc. American Dreamhome Funding, Family Dreams Mortgage, Inc. Condell E. Clements Covenant Mortgage and MHD Communities, LLC John Brian Pinson Integrity Mortgage, Inc. Margaret Chen Tsao CarsDirect Mortgage Services, Angela Letitia Matthews Jon Robert Higham Katie S. Harris Encore Mortgage, Inc. Tracy G. Bennett Atlantic States Capital Brokers, Praise Mortgages, Inc. Southern Home Equity, Inc. * BMTLoans.com, Inc. United Capital, Inc. * BBC Financial Group, LLC Embassy Mortgage, Inc. Georgia E-Fast Tax Service, Inc. Mary Helen Gray The Ping Mortgage Company Robert B. Fuoto Stafford Mortgage Group, LLC Homebuyer's Mortgage Carolyn Mason Willis Global Mortgage Group, Inc. Mark Edward Marmion Gray Splendor Mortgage Services, CrossWay Mortgage Group, Inc. Choice 1 Mortgage, Inc. Foundation Financial Group, LLC Kevin Sebastian Fernander Travis Muriel Ragsdale Sondra Jayne Tatum

ALPHARETTA PALM COAST MACON TUCKER YOUNGSTOWN ROSWELL LILBURN JEFFERSON ALPHARETTA ALPHARETTA WOODSTOCK ST MARYS DOUGLASVILLE CARROLLTON CANTON BUCHANAN SNELLVILLE CULVER CITY MARIETTA CONYERS ATLANTA LAWRENCEVILLE CARTERSVILLE SNELLVILLE JONESBORO STATESBORO SUNRISE ALCOA DULUTH SILVER SPRINGS COLUMBUS SNELLVILLE DULUTH NORCROSS TUNNEL HILL ATLANTA MARIETTA CHARLESTON PEACHTREE CITY SNELLVILLE DACULA KINGSLAND ATLANTA SNELLVILLE CEDARTOWN CARTERSVILLE

ST MB CODE
GA B FL L GA B GA B OH B GA B GA B GA B GA B GA B GA B GA B GA B GA L GA B GA B GA B CA L GA B GA B GA B GA B GA B GA B GA B GA L FL L TN L GA B MD B GA B GA B GA B GA B GA B GA B GA B SC L GA B GA B GA B GA B GA B GA B GA B GA B

ORIGINAL APPROVAL
01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 04/25/1997 02/04/2000 06/21/2002 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004

RENEWAL
01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/09/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/16/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/23/2004

REINSTATED

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2004

ID# COMPANY NAME

19114 19115 19116 19117 18782 18975 19007 19009 19055 19057 19099 19110 19119 19131 19135
7123

Lilian Jerez Burke Derrick William Muzzin Tyden Mortgage, LLC Jackie Lamar Chambers Skyline Capital Mortgage, Inc. Americas United Financial Residential Mortgage Solution Terrance Dexter Flanagan Metro Capital Funding Corp. American Dream Mortgage Guaranteed Mortgage Brokers, Marietta Mortgage Group, LLC Carolyn Yvonne Hall A-Plus Mortgage, Inc. Islands Mortgage, Inc. AAA Financial Corp.

CITY

ST MB CODE

DULUTH LAWRENCEVILLE CUMMING

GA B GA B GA B

CALHOUN LAWRENCEVILLE ATLANTA BEVERLY HILLS ELLENWOOD

GA B GA B GA B CA L GA B

ATLANTA

GA B

STONE MOUNTAIN GA B

DEERFIELD BEACH FL B

MARIETTA

GA B

DALLAS

GA B

STONE MOUNTAIN GA B

TYBEE ISLAND

GA B

CORAL SPRINGS

FL L

ORIGINAL APPROVAL
01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 05/24/1996

RENEWAL
01/23/2004 01/23/2004 01/23/2004 01/23/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/30/2004 01/16/2004

REINSTATED
01/16/2004

TOTAL: 67

B = BROKER L = LENDER R = REGISTRANT

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