Monthly mortgage summary, Dec. 2007

NDFI

MONTHLY MORTGAGE SUMMARY

December 2007
Georgia Department of Banking & Finance-- Non Depository Financial Institutions Division Monthly SMuomnmthalryy SoufmMmoarrtygaogfeMAocrttigvaigteieAs cftoirvitthiees PfeorriothdeEPnedriinogdDEencdeimngbeArp2ri0l027007

Inside this issue:

Page 1

NEWS

NEWS ITEMS

Policy-Hiring &

Cease and Desist

1

Orders

FY29009 Renewals 2

Continuing Ed

2

RENEWAL NOTICE!! 2

$6.50 Fees

3

New Industry Complaint Form

3

Customer Service 3

ADMINISTATIVE ITEMS

Administrative Actions

4-6

Licenses Revoked, Expired...Denied

7

Licenses Approved & Reinstated

8

Fines

8

Useful Links MORTGAGE FORMS: DBF.GEORGIA.GOV/
DBFMTGFORMS
UPDATING LICENSE INFORMATION
DBF.GEORGIA.GOV/
DBFMTGFORMS

VIRTUAL ZERO TOLERANCE POLICY HIRING OF PERSONS
UNDER C&Ds
Effective January 1, 2008, the Georgia Department of Banking and Finance ("Department") adopted a virtual zero-tolerance policy with regard to licensees that employ individuals against whom cease and desist orders have been issued for committing prohibited acts identified in O.C.G.A. 7-1-1013 or for engaging in unlicensed mortgage activities in violation of O.C.G.A. 7-1-1002. Employment of a person while under such an order is grounds for the Department to issue a licensee a notice of intention to revoke its annual license and seek the revocation of its authority to act as a mortgage broker or lender in Georgia.
State law clearly authorizes the Department to take such action. Specifically, O.C.G.A. 7-1-1004 (i) provides in relevant part that:

30, 2007, may not be employed by a licensee for a three year period from the effective date of the order. During the 2007 Legislative Session, the General Assembly lengthened the prohibition against employing recipients of final cease and desist orders from three to five years. This law change took effect on July 1, 2007.
Before hiring a prospective employee, each licensee is required to examine the public records of the Department to ascertain whether that person is subject to an existing cease and desist order. The list of persons under final cease and desist orders can be accessed electronically at:
https://dbfweb.dbf.state.ga.us/ WebAdmActions.html.
If an individual being considered for employment is found to be under such an order, he or she may not be hired by a licensee without that mortgage broker or lender risking the revocation of its license.

The [D]epartment may . . . revoke a license from [a] licensee if [it] employs any other person against whom a final cease and desist order has been issued within the preceding five years, if such order was based on a violation of Code Section 71-1013 or based on the conducting of a mortgage business without a required license, or whose license has been revoked within five years of the date such person was hired . . .

The Department also recommends that at least once a year the names of all individuals in the employ of a licensee be checked against the agency's public records. Taking the time to perform this check will ensure that a cease and desist order has not become final against an employee since he or she was hired by a mortgage broker or lender.

MORTGAGE SUMMARY DBF.GEORGIA.GOV/
DBFMTGSUMMARY

Recipients of cease and desist orders issued by the Department that became final on or before June

Page 2

December 2007

News--Continued

FY2009 RENEWALS
The FY2009 on-line license renewal application system will be available beginning mid-February, 2008. ALL licensees MUST complete their application ON-LINE.
Licensees should use their USER ID and PASSWORD which will be e-mailed within the renewal notice in February (See insert at right re: renewals.) Please note the following:
PAYMENT: May be made by ACH or credit card ONLY.

RENEWAL NOTICES--DISTRIBUTION
Beginning with the FY2009 License Renewals, notices to licensees will be distributed by E-MAIL only!!
The Department has endeavored to obtain your e-mail addresses for some time now in an effort to expedite the distribution of information and deliver other timely communications as the need arises.
This year, in order to obtain your renewal information and passwords to timely file your renewal application, you MUST provide the Department with your correct e-mail address.
NO OTHER RENEWAL NOTICE WILL BE SENT TO THE LICENSEES!!

PASSWORDS: Are provided in your renewal notice.

Contact the Department if you misplace this Credits must be obtained on an annual basis between

information.

April 1 through March 31 of each year. Licensees are

required to obtain 12 hours of continuing education in

INCOMPLETE or "INFORMATION REQUIRED" the 12 month period prior to the renewal deadline (April

APPLICATIONS: Should any additional information be 1) in order to renew their license.

required for any renewal, the licensee will be

contacted by e-mail or fax ONLY. Renewals requiring Licensees who fail to obtain credit by the April 1

additional information cannot be approved until such deadline of any year have until June 30 of that year to

information is received and approved. All fines and make up the credits, but will receive a $1,000 fine for

fees must be paid.

failure to obtain credit in the qualifying 12 months for

that renewal period. If the CE hours are then not

LATE FILINGS: If you have attempted access but been obtained in the make-up period, the renewal will not be

unable to utilize the on-line system, please contact approved.

the Department for instructions to complete your

application. HARD COPY FORMS ARE NOT AVAILABLE Any person newly licensed after April 1 is required to

ON THE INTERNET. Failure to request assistance in a obtain 12 hours of CE credit in order to renew their

timely manner will NOT prevent the assessment of license in the next year. Example: if a person is

the late fee if the deadline has passed.

licensed after September 1 in any given year, that

licensee must obtain CE hours prior to April 1 of the

BROKERS ONLY - CONTINUING EDUCATION next year in order to renew in that next year, and in

REQUIREMENT The continuing education reporting order to avoid a fine, those credits must be obtained

requirement is effective with this FY2008 licensing prior to March 31 of the renewal year. If you receive a

period. See the article on this page concerning CEs. new license between January 1 and March 31 of any

year, renewal is required, but continuing education

Continuing Education

credits are not.

Reporting of continuing education information will be

As noted, license renewal information will go out in on-line as a part of the renewal application. Hours

February, 2008 for the FY2009 licensing period.

MUST total to 12 in order to complete the renewal.

Sponsoring Organization, Course Name/Description, Date

Broker/processor licensees please remember the (s) of Training, Hours of Credit, Instructor, and

requirements for CE hours for this renewal year. Certificate Number assigned are required for renewal.

December 2007

Page 3

News--Continued

$6.50 Fees

Application Pictures

The $6.50 per loan fees required by O.C.G.A. Section 7-1- 1011(b)(2) and Department Rule 80-5-1-.04 are due no later than March 3, 2008 for residential mortgage loans closed during the period July 1, 2007 through December 31, 2007. The $6.50 fee will be due if the loan is a residential mortgage loan as defined in the Georgia Residential Mortgage Act (GRMA), and if a security deed, a modification of a security deed or other form of modification of a security interest is recorded.
The Department is initiating a new notification procedure for the fees due for the current period. Financial institutions and mortgage licensees and registrants who act as the collecting agent (including brokers who table fund and collect the fee) will now be notified by e-mail only regarding the $6.50 fee payment and information regarding accessing the online fee payment system. This e-mail will be sent to the primary contact for the financial institution or mortgage licensee or registrant, according to the Department's records. Those owing fees may pay online beginning January 2, 2008 from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html

A reminder: Applications requiring a picture--branch manager, change in control, new applications--those pictures MUST BE passport size and quality. Applications containing non-conforming pictures will be returned.
NEW INDUSTRY REPORTING FORMS
The Department now has a complaint form available for use by members of the industry or consumers reporting issues NOT involving their own home. Use it to report a mortgage licensee for suspected mortgage fraud and/or for a violation of the Georgia Residential Mortgage Act (GRMA). On the Internet at: http://dbf.georgia.gov/00/
channel_title/0,2094,43414745_46296143,00.html#complaint
January Office Closing THE OFFICES OF THE DEPARTMENT OF BANKING AND
FINANCE WILL BE CLOSED FOR THE MARTIIN LUTHER KING, JR., MEMORIAL DAY
MONDAY, JANUARY 21, 2008

Institutions that are not in our database and cannot access the online system will be able to download a form from the URL noted above.
CUSTOMER SERVICE GEORGIA
Governor Sonny Perdue's campaign is to put new emphasis on customer service, emphasizing easier access to government services, faster processes so customers can get business done quickly, and friendlier service in a customer-focused, goal-oriented culture. It is the Department's goal to provide excellent customer service, meeting and exceeding the expectations of our customers. Along those lines, we would like to recognize the following individual for going above and beyond in serving our customers.

Deborah Long, Assistant Review Examiner (NDFI-Main Office): The Department received comments from a customer stating: "My overall quality of service rating is based on my experience with Deborah Long, whom I spoke to a couple of times regarding my application. She returned my calls promptly, was pleasant and very professional. She answered my questions in simple ways that made me comfortable."
CONGRATULATIONS AND GREAT JOB!!
Our MISSION is to promote safe, sound, competitive financial services in Georgia through innovative, responsive regulation and supervision.
Our VISION is to be the best financial services industry regulator in the country Progressive. Proactive. Service-Oriented.

Page 4

December 2007

Administrative Actions

CEASE AND DESIST ORDERS--ISSUED

Advance Mortgage Solutions, LLC, Douglasville, GA (license no. 20431) Cease and Desist Order issued No- vember 19, 2007 became final on December 19, 2007.
Atlantic Mortgage Loans, Inc., Clearwater, FL (license no. 21092) Cease and Desist Order issued November 30, 2007 became final on December 30, 2007.
Blades, Virgilio, Hiram, GA Cease and Desist Order issued November 14, 2007 became final on December 15, 2007.
Caruana, Quentin Phillip, Irvine, CA Cease and Desist Order issued November 14, 2007 became final on De- cember 5, 2007.
Cugno, Jerry, Riverview, FL Cease and Desist Order issued November 15, 2007 became final on December 6, 2007.
Dabbs, Pamla & Michaels, Keith, dba Equity Bank, Atlanta, GA Cease and Desist Order issued November 2, 207 became final on December 3, 2007.
Delta Funding Corporation dba Fidelity Mortgage, Woodbury, NY (license no. 7196) Cease and Desist Order issued November 16, 2007 became final on December 19, 2007.
Direct Mortgage of SC, Inc., Charleston, SC (license no. 20131) Cease and Desist Order issued November 1, 2007 became final on December 3, 2007.
Dixie, Melinda, Stockbridge, GA Cease and Desist Order issued November 1, 2007 became final on December 2, 2007.
Etete, Woyengitonbara "Bonnie", Suwanee, GA Cease and Desist Order issued November 14, 2007 became final on December 5, 2007.
FirstMac Corporation, Scottsdale, AZ (license no. 21369) Cease and Desist Order issued November 15, 2007 became final on December 15, 2007.
Huynh, Tuyet Nga, Lake City, GA Cease and Desist Order issued November 16, 2007 became final on Decem- ber 7, 2007.
Integral Equity Mortgage, LLC, Jonesboro, GA (license no. 20732) Cease and Desist Order issued November 16, 2007 became final on December 18, 2007.
Kim, Byung "Chris", Alpharetta, GA--Cease and Desist Order issued December 3, 2007 became final on De- cember 24, 2007.
Moka Mortgage, LLC, East Point, GA Cease and Desist Order issued November 19, 2007 became final on De- cember 20, 2007.

December 2007
Administrative Actions
CEASE AND DESIST ORDERS--ISSUED (Continued)

Page 5

Montgomery Mortgage Capital Corporation, Parsippany, NJ (license no. 21920) Cease and Desist Order is- sued November 8, 2007 became final on December 8, 2007.
Mortgage Strategies Group, LLC dba MSGLOANS, Boca Raton, FL (license no. 17403) Cease and Desist Order issued November 9, 2007 became final on December 11, 2007.
Nationwide Mortgage Consulting, LLC dba NMC Mortgage Network, Miami, FL Cease and Desist Order is- sued November 19, 2007 became final on December 20, 2007.
Nguyen, Evelyn aka Ha Truong, Tucker, GA Cease and Desist Order issued November 16, 2007 became final on December 7, 2007.
Pennywell, Daniel, Avondale Estates, GA Cease and Desist Order issued November 29, 2007 became final on December 30, 2007.
Reliable Family Mortgage, LTD, Fairfield, OH (license no. 17209) Cease and Desist Order issued November 15, 2007 became final on December 16, 2007.
Residential Mortgage Services, Inc., Suwanee, GA (license no. 21275) Cease and Desist Order November 21, 2007 became final on December 25, 2007.
SWJ Enterprises, Inc. dba In-House Mortgage, Covington, GA (license no. 13826) Cease and Desist Order November 19, 2007 became final on December 10, 2007.
Trinity Mortgage Companies, Inc., Blue Springs, MO (license no. 20897) Cease and Desist Order November 21, 2007 became final on December 24, 2007.
Uta, Florin, Auburn, GA Cease and Desist Order November 14, 2007 became final on December 5, 2007.
Yang, Ji Y., Alpharetta, GA Cease and Desist Order issued December 3, 2007 became final on December 24, 2007.

Page 6

December 2007

CEASE AND DESIST ORDERS--LIFTED
None

FINAL CONSENT ORDERS --ISSUED
Camryn Financial Services, Inc., Jonesboro, GA (license no. 19496) Consent Order issued on December 10, 2007 became final on December 10, 2007. Intergroup, Inc., Canton, GA (license no. 20964) Consent Order issued on December 7, 2007 became final on December 7, 2007. Quibano, Humberto, Canton, GA Consent Order issued on December 7, 2007 became final on December 7, 2007. Savasir, Durazi, Canton, GA--Consent Order issued on December 7, 2007 became final on December 7, 2007.
SUPERIOR COURT INJUNCTIONS
Dixie, Melinda, Stockbridge, GA--Final Consent Order issued by Henry County Superior Court on December 6, 2007.

December 2007

Page 7

LICENSEES/REGISTRANTS REVOKED, EXPIRED, SURRENDERED, WITHDRAWN OR DENIED

ID# 5747 6733 7196
12181 13969 14324 14699 15373 17188 17209 17403 17517 18484 18748 19119 19202 19418 19671 19696 19728 19997 20040 20131 20431 20546 20685 20732 20897 20923 21031 21092 21221 21275 21364 21369 21450 21577 21589 21832 21920

NAME SE MTG PARTNERS LLC WMC MTG CORP DELTA FUNDING CORP NATIONWIDE HM MTG INC AMER BENEFIT MTG INC GELIN & ASSOC INC NINJON FINL SERVS FIDELITY MTG WAREHOUSE ONE SOURCE MTG LLC RELIABLE FAMILY MTG LTD MTG STRATEGIES GRP LLC HOMEQUEST FINL SVCS FAST LANE LOAN INC PRIME MTG FINL INC GLOBAL MTG SVCS LLC SE LENDING GRP GA INC HOME LOAN MASTER INC UNITED EQUITY LLC AMER EQUITY LOAN LLC 1ST PLATINUM MTG INC GA PREMIER LENDING CORP SAGE CREDIT COMPANY DIRECT MTG S C INC ADVANCE MTG SOLUTIONS LLC FIRSTSTAR HM EQUITY LLC 1ST INTEGRITY LENDING LLC INTEGRAL EQUITY MTG LLC TRINITY MTG COMPANIES INC FMC FINANCIAL, INC. SMART MTG INC ATLANTIC MTG LOANS INC FINL SOLUTIONS INC (MD) RES MTG SVCS INC GA INTEGRITY MTG GRP LLC FIRSTMAC CORP LENDING 1ST MTG LLC LOWNHOME FINL HOLDINGS LL PRESTIGE STAR MTG INC NTRC MTG LLC MONTGOMERY MTG CAP CORP

CODE BD RD LD BD LD BD BD BD LD BD LD BD BD LD BD BD BD LD BD BD BD LD LD BD LD BD BD BD BD BD BD BD BD BD LD LD LD BD BD
LD

IN DECEMBER 2007

REVOKED

EXPIRED

SURRENDERED

12-11-2007

12-19-2007

03-29-2007 12-11-2007

12-16-2007 12-11-2007

07-30-2007

12/11/2007

12-03-2007 12-19-2007

12/24/2007

12-18-2007 12-24-2007
12-30-2007 12-25-2007 12-15-2007

12-08-2007

WITHDRAWN 12-31-2007 12-28-2007
12-13-2007 12-20-2007 12-31-2007 12-07-2007 12-06-2007
12-19-2007 12-14-2007 12-31-2007
12-06-2007 12-14-2007 12-31-2007 12-21-2007
12-31-2007 12-03-2007
12-31-2007
12-31-2007
12-17-2007
12-07-2007 12-10-2007 12-17-2007 12-31-2007

DENIED

21966 GNM ENTERPRISES INC (MI)

BD

12-17-2007

21968 ASSET BUILDERS LLC

LD

12-10-2007

TOTAL: 42

Page 8

December 2007

ID#
22956 22976 23004 23005 23012 23023 23037 23040 22957 22988 23008 23039 23053 21926 23002 23003 23021
23033
23052 23070
7064 21101 19892

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN NOVEMBER 2007

COMPANY NAME

City

ST MB CD

ORIGINAL

RENEWAL

APPROVAL

PoolCorp Financial Mortgage, LLC

Covington

LA

B

12-07-2007

12-07-2007

REINSTATED

Good Faith Mortgage & Associates, LLC Stockbridge

GA

B

12-07-2007

12-07-2007

Hunter Services and Consulting, Inc.

Jacksonville

FL

B

12-07-2007

12-07-2007

Best Option Mortgage, Inc.

Newport News VA

L

12-07-2007

12-07-2007

Global One Solutions, Inc.

Winder

GA

B

12-07-2007

12-07-2007

Jag Mortgage, LLC

Decatur

GA

B

12-07-2007

12-07-2007

CB Financial (Inc.)(IL)

Chicago

IL

L

12-07-2007

12-07-2007

A to Z Funding, Inc.

Woodstock

GA

B

12-07-2007

12-07-2007

Stronghold Servicing, LLC

Warrenton

VA

L

12-14-2007

12-14-2007

Advance Mortgage Source, Inc.

Spartanburg

SC

L

12-14-2007

12-14-2007

Cleo Lynn Meyer

Duluth

GA

B

12-14-2007

12-14-2007

1st American Capital, LLC

Atlanta

GA

B

12-14-2007

12-14-2007

The Lending Company, Inc.

Phoenix

AZ

L

12-14-2007

12-14-2007

Quid Quo Mortgage, Inc. +

Jupiter

FL

L

11-10-2006

12-21-2007

New American Mortgage, LLC

Charlotte

NC

L

12-21-2007

12-21-2007

Novo Mortgage Group, Inc.

Roseville

CA

B

12-21-2007

12-21-2007

Premier Mortgage Group of South Flor- Miramar

FL

L

ida, Inc.

Elite International Mortgage Corpora-

College Park

GA

B

tion

Oconee Capital Management, LLC

Eatonton

GA

L

12-21-2007 12-21-2007 12-21-2007

12-21-2007 12-21-2007 12-21-2007

Fidelity Mortgage Solutions, Inc.

Suwanee

GA

B

12-21-2007

12-21-2007

Capital City Mortgage Investments, Inc. Powder Springs GA

B

12-09-1994

12-07-2007

12-07-2007

Greenlink Financial Services, LLC

Lilburn

GA

B

01-27-2006

12-14-2007

12-14-2007

Aspen Home Loans, LC

American Fork UT

B

12-10-2004

12-21-2007

12-21-2007

TOTAL: 23

FINE INFORMATION

Information regarding fines assessed against a specific licensee, against whom there are no pending administrative actions, is available on an individual licensee basis by submitting a written request to the following e-mail address: dbfmort@dbf.state.ga.us

FINE REASON

8 Licensees fined for Advertising Violations

4 Licensees fined for Background Checks Violation

5 Licensees for Prohibited Acts

4 Licensees fined for Books & Records

3 Licensees for Failure to Fund

1 Licensee fined for failure to Respond to a Consumer

3 Licensees fined for Loan Files Not Properly Maintained Complaint

1 Licensee fined for Violation of a Cease & Desist Order 1 Licensee fined for GaFLA Violation

2 Licensee fined for doing business w/ Unlicensed Entity 1 Licensee fined for Miscellaneous/Other

2 Licensees fined for Unapproved Branch Managers

1 Licensee fined for 1099 Employees

1 Licensees fined for Relocation of Office w/o Notice

December 2007

Page 9

Georgia Department of Banking and Finance

LICENSE STATUS CHANGE INDICATORS & MORTGAGE LICENSE CODES--(In Tables)

2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565
Phone: (770) 986-1136 Fax: (770) 986-1654 or 1655
Email: dbfmort@dbf.state.ga.us

License Status Indicators

(MB CD) - Mortgage License Codes

*

Upgrade Broker to Lender

B

Broker

+

Downgrade Lender to Broker

L

Lender

We're on the Web! dbf.georgia.gov

#

Upgrade Lender to Registrant

P



Downgrade Registrant to Lender

R

Processor Registrant

Sign-up to Receive this Publication
This publication is delivered to interested parties via e-mail and is also available from the Department's website at:
http://dbf.georgia.gov. If you would like to be added to our distribution list, please send an e-mail to dbfpress@dbf.state.ga.us and indicate your name, the company you are with, and your phone number.