Monthly mortgage summary, June 2007

NDFI

MONTHLY MORTGAGE SUMMARY

June 2007
Georgia Department of Banking & Finance-- Non Depository Financial Institutions Division MonthlMy oSnutmhmlyaSruymomf aMroyrotgf aMgoerAtgcatgiveitAicetsivfiotrietshfeoPr etrhieodPeErnidodinEgnJduinneg 2A0p0ri7l 2007

Inside this issue:

Page 1

In Memory

1

IN MEMORY

Rules Published for 1 Comment

Federal Statement 2 on Subprime Loans

New Application

2

Forms

CSBS Endorses

3

Federal Statement

Law Changes

4

Effective

Staff Changes

4

Consumer Alert

5

Appraiser Issues

5

Customer Service 6 Stars

Administrative

7-

Actions & Fine Data 10

Licenses Revoked, 10Expired...Denied 11

Licenses Approved 11-

& Reinstated

13

DAVID G. SORRELL: 1951--2007
The Department is saddened to announce the death of former Commissioner David Sorrell, who passed away July 1, 2007 of an apparent heart attack.
David had been with the Department since 1974 when he began as an examiner in the Northeast Georgia area. David served as Acting Commissioner from January 2002 until his appointment as Commissioner in June 2003, and he retired from the Department as Commissioner on December 1, 2005. He also served as the Senior Deputy Commissioner, Deputy Commissioner for Supervision, and as the Director of Administration. From 1973 to 1974, David worked in credit analysis and loan review with the Bank of North Carolina, N.A., Jacksonville, N.C. He also served on the Board of Directors for the Conference of State Bank Supervisors (CSBS), Board of Directors of National Association of State Credit Union Supervisors (NASCUS), as well as serving on several committees for these organizations.
David had a tremendous impact upon financial institution supervision in Georgia and around the country through his interaction with fellow state and federal regulators. He will be truly missed by all of us who had the privilege of working with him as a colleague and knowing him as a friend.

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

Department Issues Proposed Rules for Comment

July 2, 2007

The proposed changes are in part responsive to

law changes in the 2007 legislation. A synopsis

Pursuant to the provisions of the Georgia and purpose precedes each proposed rule, with

Administrative Procedures Act, Official Code of background information and explanation where

Georgia Annotated (O.C.G.A.) Chapter 50-13 applicable. The Department will review all

and by authority of O.C.G.A. 7-1-61, 7-1- comments. It may contact those providing

663, 7-1-1012, and other cited statutes, the comments to discuss their suggestions. After

Georgia Department of Banking and Finance the comment period has closed the final rules

hereby gives notice of its intent to adopt new will be prepared. See RULES COMMENTS

and amended rules. The proposed changes may box on Pg. 4 for information on how to submit

be downloaded from: http://dbf.georgia.gov

your comments.

Page 2

June 2007

Federal Advisory on Subprime Mortgage Lending

Federal Agencies Tighten Rules
on Subprime Mortgages
The federal financial regulatory agencies on June 29, 2007 issued a joint final statement on subprime mortgage lending to address certain adjustablerate mortgage products that may cause payment shock.
The statement described the prudent consumer protection standards that institutions should follow to ensure borrowers obtain loans they can afford to repay. The standards call for a fully indexed, fully amortized qualification for borrowers and cautions against risk-layering features. The regulators said stated income and reduced documentation should be accepted only if there are documented mitigating factors that clearly minimize the need for verification of a borrower's repayment capacity, naming as possible mitigating factors proof the borrower had substantial liquid reserves or a history of meeting similar payments on a loan being refinanced. "However," the regulators added, "a higher interest rate is not considered an acceptable mitigating factor."
Other areas addressed:
Workout Arrangements
The Agencies encourage financial institutions to work constructively with residential borrowers who are in default or whose default is reasonably foreseeable. Prudent workout arrangements that

are consistent with safe and sound lending practices are generally in the long-term best interest of both the financial institution and the borrower. Financial institutions should follow prudent underwriting practices in determining whether to consider a loan modification or a workout arrangement. Such arrangements can vary widely based on the borrower's financial capacity. For example, an institution might consider modifying loan terms, including converting loans with variable rates into fixed-rate products to provide financially stressed borrowers with predictable payment requirements. The Agencies also stated that they will not criticize financial institutions that pursue reasonable workout arrangements with borrowers.
Consumer Protection Principles
Fundamental consumer protection principles relevant to the underwriting and marketing of mortgage loans include:
Approving loans based on the borrower's ability to repay the loan according to its terms; and
Providing information that enables consumers to understand material terms, costs, and risks of loan products at a time that will help the consumer select a product.
("Agencies.." Continued on page 3)

New Mortgage Application and License Amendment Forms

The Department will be utilizing new license application forms, As previously noted, the changes are prompted by the

including:

Department's anticipated participation in the joint CSBS/AARMR

New License/Registration Application Form;

project, the Residential Mortgage Licensing System, or the



Combined

New

Branch

Application/Approved

RMLS. Use of the forms going forward should ease the transition Branch--

Manager Change Request Form;

to the on-line system for existing licensees desiring to make



changes to existing licenses, and simplify the application process New Name Change/Change in Business Structure Application

Form;

for those desiring to make application in several states.

New Management/Control Persons Notification Form;

Should you have any questions on the new forms when published,

New Change in Control Form--to be used for changes in please contact the Division. Forms should be available on the

ownership of 10% or greater.

Internet by mid-July.

June 2007

Page 3

CSBS, AARMR Plan Subprime Statement

("Agencies..", Continued from page 2)

Council's State Liaison Committee. Read more

http://www.federalreserve.gov/boarddocs/press/

Information should be timely, and consumers should bcreg/2007/20070629/attachment.pdf

be informed of the following loan factors:

Payment Shock. Potential payment increases, including how the new payment will be calculated when the introductory fixed rate expires.

CSBS, AARMR Endorse Tightened Subprime Rules

Prepayment Penalties. The existence of any

prepayment penalty, how it will be calculated, The Conference of State Bank Supervisors and the

and when it may be imposed.

American Association of Residential Mortgage

Balloon Payments. The existence of any Regulators offered their strong endorsement of the

balloon payment.

interagency statement on subprime mortgage

lending. The two associations will collaborate on a

Cost of Reduced Documentation Loans. similar statement for state regulators to issue for

Whether there is a pricing premium attached to their licensed mortgage providers within the next

a reduced documentation or stated income loan two weeks. CSBS and AARMR believe a coordinated

program.

effort among federal and state regulatory agencies is

necessary to provide effective supervision of the

Responsibility for Taxes and Insurance. The residential mortgage industry.

requirement to make payments for real estate
taxes and insurance in addition to their loan The associations said their commitment to provide payments, if not escrowed, and the fact that consistent supervision of the mortgage industry was taxes and insurance costs can be substantial. clearly illustrated by the parallel Guidance on
Nontraditional Mortgage Product Risks developed by

Control Systems

CSBS and AARMR, which has been adopted by 35

Institutions should develop strong control systems to states and the District of Columbia. Neil Milner,

monitor whether actual practices are consistent president and CEO of CSBS, said that state

with their policies and procedures and have regulators are expected to rapidly adopt the subprime

procedures and systems in place to monitor statement, given their experiences in dealing with this

compliance with applicable laws and regulations, issue at the local level. "We have received

third-party agreements and internal policies. An commitments from 22 states indicating their intention

institution's controls also should include appropriate corrective actions in the event of failure to comply with applicable laws, regulations, third-party

to expedite implementation," said Mr. Milner. Read more http://www.csbs.org/AM/Template.cfm?

agreements or internal policies.

Section=Press_Releases&TEMPLATE=/CM/

Institutions should initiate procedures to review ContentDisplay.cfm&CONTENTID=11403

consumer complaints to identify potential

compliance problems or other negative trends.

The statement was issued by FDIC, the Federal Reserve, the Office of Thrift Supervision, the Office of the Comptroller of the Currency and the National Credit Union Administration and was supported by the Federal Financial Institutions Examinations

Page 4

June 2007

2007 Legislative changes become effective

LAW CHANGES--JULY 1

(f) Clarified language requiring Department reporting

requirements regarding licensee complaint data.

Just a reminder that legislative changes went into effect July 1.

SB 70 is on the Web. The most significant changes for mortgage

entities are:

7-1-1016 (1)(B) Strengthened prohibitions on what may be construed to be false

7-1-1001(13)

and misleading advertising practices.

Removal of the one-time exemption (up to 5 per year) for

persons other than natural persons..

7-1-1017 (a) & (b)

(a) Provides for suspension or revocation of a mortgage broker

7-1-1004 (f) & (i)

education provider's approval.

(f) Background check requirement to perform background

checks within ten days of the initial hire of an employee. (b) Changed "service" specifications regarding notices issued by

the Department.

(i) The timeframe in which the Department may not issue a

license or may revoke a license from an applicant or licensee

that employs any person against whom a final cease and desist 7-1-1018

order has been issued has been extended from three to five Indicates that any cease and desist order sent to personal and

years.

business addresses that is returned as 'refused' or 'unclaimed'

will be deemed sufficiently served.

7-1-1006 (e) & (f) (e) Changes notification requirements for officers from "principal" officer to "executive" officer. Drops the reporting requirement for directors.
(f) Changes the notification requirement for main office and approved branch addresses changes to 30 days after the effective date of the change.
7-1-1008 (a) Changed from 25% to 10% the level of ownership interest acquired in a licensee that requires prior approval by the Department.
7-1-1009 (a) & (f) (a) Licensee must maintain separate personal and business records.

RULES COMMENTS
Comments to the Department of Banking and Finance concerning the rules which have been published must be received by:
August 2, 2007, at the close of business.
Please send all comments to: Rob Braswell, Commissioner Georgia Department of Banking and Finance 2990 Brandywine Road, Suite 200
Atlanta, GA 30341-5565 Fax: (770) 986-1654 or 1655

CHANGES IN EXAMINATION STAFF
The NDFI Division is pleased to announce the addition of Ms. Amanda Turner to the mortgage examining staff as of July 2nd. Ms. Turner holds a Business Administration degree in Accounting from Wofford College. We would like to welcome Amanda to our examination staff!

June 2007

Page 5

Department Issues Consumer Alert on Mortgage Payment Increases
Commissioner Rob Braswell on July 5, 2007 has issued a CSBS/AARMR consumer alert urging homeowners with adjustable rate mortgages to plan now for the scheduled "recasts" or "resets" of interest rates in the year ahead. The Department also issued a CSBS/AARMR industry letter encouraging mortgage servicers and providers to reach out to consumers to provide information on their loans and to
work with consumers to avoid foreclosure. Links to the consumer alert and the industry letter can be accessed from our press release. To view the press release, go to:
http://dbf.georgia.gov/vgn/images/portal/cit_1210/31/56/85208868PR_ConsumerAlertARMs.pdf

APPRAISALS--LENDER RESPONSIBILITY
It would appear that there continue to be abuses with regard to lender need for "target appraised values". It appears that licensees/lenders contract with various appraisal "vendors" who then assign the work to individual appraisers within the state. The licensee may provide a desired value to the appraiser that needs to be met to close the loan, a practice which is in violation of USPAP rules. Failure by the appraisers to meet these lender imposed conditions results in being "blacklisted" by various lenders. It appears that current foreclosure problems may have stemmed from over valued appraisals, and appraisers have complained publicly about pressure to overvalue homes to attract sub-prime borrowers. Mortgage overvaluation, lender pressure, and growing valuation fraud are problems which appear to have triggered much of the current industry fallout, and the Department is actively pursuing lenders who take advantage of such appraisal abuse.
NDFI--MORTGAGE DIVISION TRAINING
A reminder that July 23 through July 27, 2007, members of the Mortgage Division staff will be in training. If you need to get in touch with a member of the staff, please leave an email message. We will be periodically checking messages. A listing of e-mail addresses is available on the web at: http://dbf.georgia.gov/dbfstaff
Should you need to speak to a member of the staff, you may contact our receptionist at 770/986-1136 to leave a message. Please understand that the call may not be returned until the beginning of the following week.

Page 6

June 2007
DBF's Customer Service Stars for the Month of June

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 individuals or groups for going

above and beyond in serving our customers:

Larry Shelley, Supervisory Manager - Mortgage Regulation (Non-Depository Financial Institutions): Larry received comments from a customer stating: "Thank you for your empowering words. You have been by far the best regulator in the country. You guided me a lot. Thank you."

Gloria Smith, Secretary/Receptionist (Non-Depository Financial Institutions): Gloria received comments from a customer stating: "I'm excited to tell you that my issue has been resolved! Thanks go to you and your team at DBF for your patience, guidance and help... from me specifically!"

The Department is the state agency that regulates and examines banks, credit unions, and trust companies chartered by the State. The Department also has regulatory and/or licensing authority over mortgage brokers, lenders, and processors, money service businesses, international banking organizations, and bank holding companies conducting business in Georgia.
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. ServiceOriented.
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!

June 2007
Administrative Actions
CEASE AND DESIST ORDERS--ISSUED

Page 7

ABC Mortgage Solutions, Inc., Snellville, GA (license no. 20467) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
A K Edwards Tax & Financial Services, Inc. dba My Friend's Mortgage Company, Hampton, GA (license no. 20597) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
American Financial Mortgage, LLC, Conyers, GA (license no. 19656) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
Bailey Equity, Inc., Stone Mountain, GA (license no. 20589) Cease and Desist Order issued May 3, 2007 became final on June 2, 2007.
By Design Financial Services, Inc., Columbus, GA (license no. 20766) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Champion Home Mortgage, Inc., Eastman, GA (license no. 17519) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
Chase Family Mortgage, Inc., Acworth, GA (license no. 20384) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
Colbert, Carmine, Loganville, GA Cease and Desist Order issued May 18, 2007 became final on June 8, 2007.
First United Mortgage Corp. (FL), Orlando, FL (license no. 19357) Cease and Desist Order issued May 22, 2007 became final on June 21, 2007
FISO Mortgage, Inc., Norcross, GA (license no. 21741) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
Georgia Mortgage Group, Inc., Dacula, GA (license no. 16312) Cease and Desist Order issued May 21, 2007 became final on June 30, 2007.
Heartland Home Mortgage, Inc., Acworth, GA (license no. 17251) Cease and Desist Order issued May 10, 2007 became final on June 9, 2007.
JCC Capital, Inc., Loganville, GA Cease and Desist Order issued May 18, 2007 became final on June 18, 2007.
Lowry Mortgage Network, Atlanta, GA (license no. 13975) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Nobles, James, Buford, GA Cease and Desist Order issued May 18, 2007 became final on June 8, 2007.
Padgett, Betsy A., Dawsonville, GA Cease and Desist Order issued May 24, 2007 became final on June 27, 2007.
Padua, Yolanda, Lawrenceville, GA Cease and Desist Order May 18, 2007 became final on June 8, 2007.

Page 8

June 2007

CEASE AND DESIST ORDERS--ISSUED (Continued)

Peach State Home Mortgage, LLC, Norcross, GA (license no. 20243) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Pegasus Capital Funding, Inc., Snellville, GA (license no. 19353) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Pounds, Richard G., McDonough, GA Cease and Desist Order issued May 24, 2007 became final on June 14, 2007.
Prime Mortgage, Inc., Duluth, GA (license no. 19400) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
P.W. Mortgage, Inc., Roswell, GA (license no. 15450) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Singh, Kenwar, Kennesaw, GA Cease and Desist Order issued July 19, 2006 became final on June 8, 2007.
Smith, Dana H., San Juan Capistrano, CA Cease and Desist Order issued May 18, 2007 became final on June 8, 2007.
Southern Home Mortgage Services Corp., Atlanta, GA (license no. 19738) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Southern Lenders Mortgage Corporation, Newnan, GA (license no. 13776) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Southern Residential Mortgage Services, LLC, Duluth, GA (license no. 22086) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Star Integrity Mortgage, LLC dba Star Integrity Mortgage, Atlanta, GA (license no. 18536) Cease and Desist Order issued May 24, 2007 became final on June 30, 2007.
Thompson, Brandon Jamual dba Vision Mortgage Services, Covington, GA (license no. 21546) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
Thomas, Tameka, Snellville, GA Cease and Desist Order issue May 24, 2007 became final on June 14, 2007.
Township Service, LLC, Rossville, GA (license no. 13711) Cease and Desist Order issued May 21, 2007 became final on June 25, 2007.
Unlimited Mortgage Group, Inc., Valdosta, GA (license no. 16969) Cease and Desist Order issued May 10, 2007 became final on June 9, 2007.
Waddell, Jr. Richard B. dba Mortgage Direct, Chattanooga, TN (license no. 18771) Cease and Desist Order issued May 22, 2007 became final on June 30, 2007.
White, Daniel E., dba Home Centre Real Estate/Mortgage (license no. 21575) Cease and Desist Order issued May 21, 2007 became final on June 20, 2007.

June 2007
FINAL CONSENT ORDERS --ISSUED
None

Page 9

CEASE AND DESIST ORDERS--LIFTED OR RESCINDED
Ameriequity, Inc., Charlotte, NC (license no. 16051) Cease and Desist Order issued March 29, 2007 was rescinded on June 8, 2007.

SUPERIOR COURT INJUNCTIONS
None

Page 10

June 2007

FINE PUBLICATION
Information regarding fines assessed against a specific licensee and 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

1 Licensee fined for Advertising Violations 5 Licensees fined for Background Checks Violation 5 Licensees fined for Books & Records 1 Licensee fined for Unapproved Branch 15 Licensees fined for Continuing Education Data Filed
Late 1 Licensee fined for failure to submit to Exam

2 Licensees fined for Employment of a Felon 4 Licensees fined for Loan Files not properly maintained 2 Licensees fined for Unapproved Branch Manager 1 Licensee fined for Check returned for Insufficient Funds 3 Licensees fined for Miscellaneous Acts/Other 3 Licensees fined Prohibited Acts 2 Licensees fined for Doing business w/ unlicensed entity

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

ID#

NAME

IN JUNE 2007

CD

REVOKED

EXPIRED SURREN-

WITHDRAWN

5974 6400 13091 13380 13711 13826 14233 14857 15450 15639 16286 16969 17075 17251 17259 17321 17337 17519 18089 18536 18972 19099

MORTGAGEQUOTE.COM INC SAFEWAY MTG INC DANA CAP GRP INC 1ST MTG & FINL GRP INC TOWNSHIP SERV LLC SWJ ENTERPRISES INC ALL-N-ONE MTG & FINL INC MARIETTA MTG BROKERS PW MTG INC LAKE HARTWELL MTG CO INC ANOINTED SVCS INC UNLIMITED MTG GRP INC PREFERRED MTG CORP HEARTLAND HM MTG INC RE CAP MTG CORP COLE MTG CO HOMELAND CAP GRP LLC CHAMPION HM MTG INC N MARIETTA MTG BROKERS IN STAR INTEGRITY MTG LLC LAWSON, HUGH WARREN GUARANTEED MTG BROKERS IN

DERED

BD

BD

LD 06-08-2007

BD

BD

06-25-2007

BD

06-23-2007

BD

BD

BD

06-30-2007

BD

06-30-2007

BD

BD

06-09-2007

BD

BD

06-09-2007

BD

BD

LD

BD

06-30-2007

BD

BD

06-30-2007

BD

BD

06-30-2007

06-05-2007 06-08-2007 06-20-2007
06-19-2007 06-29-2007
06-29-2007 06-29-2007 06-29-2007 06-14-2007 06-05-2007 06-14-2007 06-29-2007

DENIED

June 2007

Page 11

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

IN JUNE 2007

ID#

NAME

CD

REVOKED

EXPIRED

SURREN-

WITHDRAWN

19357 1ST UNITED MTG CORP (FL)

LD

19400 PRIME MTG INC

BD

20260 MORGAN STANLEY MTG CAP IN

RD

20316 MADISON AREA MTG INC

BD

20445 LOAN PAGE INC

BD

20467 ABC MTG SOLUTIONS

BD

20589 BAILEY EQUITY INC

BD

20647 FAMILY AMER MTG GRP INC

BD

20766 BY DESIGN FINL SVCS INC

BD

20781 UNION STREET INV CO

LD

20930 CAP MTG SVCS INC

LD

21070 S COAST MTG INC

BD

21102 ATL FUNDING GRP INC

BD

21427 ABC MTG FUNDING INC

LD

21575 WHITE, DUANE E

BD

21741 FISO MTG INC

BD

21828 SENDERRA FUNDING LLC

LD

21983 HOME-KEY CAP INC

BD

22171 FAIRMONT FUNDING LTD

LD

06-21-2007 06-30-2007
06-30-2007 06-02-2007 06-30-2007
06-30-2007 06-20-2007 06-30-2007

06-19-2007 06-08-2007 06-04-2007
06-10-2007
06-01-2007 06-22-2007 06-05-2007
06-05-2007
06-04-2007 06-06-2007 06-04-2007

DENIED

TOTAL: 41

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JUNE 2007

ID#

COMPANY NAME

CITY

MB

ST

CD

ORIGINAL APPROVAL

RENEWAL

18494 22490

Capital Funding & Mortgage Group, Inc. * Golfside Lending, Inc.

Duluth

GA

L

Clearwater

FL

B

22504 Striker Lending, LLC

Atlanta

GA

B

22528 Academy Mortgage, LLC (MD)

Baltimore

MD

L

22529 America's First Mortgage Lending Albany

GA

L

Company

22565 Parrot Bay Financial, Inc.

Jonesboro

GA

B

22590 Task Force Processing, LLC

Acworth

GA

P

22595 Mortgage Brokers of Georgia, LLC LaGrange

GA

B

22596 A Home Today Lending, LLC

McDonough GA

B

22598 Trademark Financial Mortgage,

Atlanta

GA

B

LLC

22602 Southeastern Lending Services

Lyons

GA

B

Incorporated

21732 Lending Group, LLC (FL) +

Palm Beach FL

B

Gardens

07-11-2003
06-01-2007 06-01-2007 06-01-2007 06-01-2007
06-01-2007 06-01-2007 06-01-2007 06-01-2007 06-01-2007
06-01-2007
08-11-2006

06-01-2007
06-01-2007 06-01-2007 06-01-2007 06-01-2007
06-01-2007 06-01-2007 06-01-2007 06-01-2007 06-01-2007
06-01-2007
06-08-2007

REINSTATED

Page 12

June 2007

ID#

COMPANY NAME

CITY

MB

ST

CD

22519 22587 22662 22496

Homeline Lending, LLC Universal Lending, Inc. Ameriequity, Inc. IBM Lender Business Process

Baton Rouge LA

B

Sugar Hill

GA

B

Charlotte

NC

L

Charlotte

NC

L

22537 Justin A. Lynch 22538 Pro Financial Services, Inc.

Atlanta Rancho

GA

B

CA

B

22546 Prime Rate Mortgage Funding,

Woodstock

GA

B

22554 Platinum Financial Group Corp.

Boca Raton FL

B

22589 Rita Martin

Duluth

GA

B

22601 Wholesale America Mortgage, Inc. Pleasanton

CA

L

22636 DB Private Wealth Mortgage, Ltd. New York

NY

R

22645 Morgan Stanley Mortgage Capital New York

NY

R

22185 Dollar Investment Corp. of Mem- Memphis

TN

L

21594 Titan Mortgage Corporation

Duluth

GA

L

22507 Miracle Mortgage Services, Inc.

Dania

FL

L

22535 Panam Mortgage & Financial Ser- New York

NY

B

vices, Inc.

22555 Hanover Capital Mortgage Hold-

Edison

NJ

L

22572 Brandon Burke

Duluth

GA

B

22594 Lending Mortgage, LLC

Hattiesburg MS

B

22597 Network Capital Funding Corpora- Irvine

CA

L

22600 Mortgage Essentials, LLC

Stone Moun- GA

B

22615 All Nations Mortgage Company,

Atlanta

GA

B

22633 22653 22417

MillCreek Mortgage, LLC Sean Choi Parsec Interact, Inc.

Marietta Duluth Mountain

GA

B

GA

B

CA

B

22464 PrimeSource Mortgage, Inc. 22553 The Samaritans Mortgage Com-

Roswell Atlanta

NM

L

GA

B

22570 Coast to Coast Lending Group,

Mission Viejo CA

B

22571 State Capital Mortgage, Inc.

Cumming

GA

B

22622 Bright Vision Mortgage, Inc.

Jacksonville FL

L

22624 Eireann European Construction

Marietta

GA

B

22643 Viking Capital, Inc.

Sausalito

CA

L

22650 Metro Mortgage Finance, LLC

Atlanta

GA

B

22654 Dezard Financial Group, LLC

Augusta

GA

B

ORIGINAL APPROVAL
06-08-2007 06-08-2007 06-08-2007 06-15-2007
06-15-2007 06-15-2007
06-15-2007
06-15-2007
06-15-2007 06-15-2007 06-15-2007 06-15-2007
01-19-2007
06-22-2007 06-22-2007 06-22-2007
06-22-2007
06-22-2007 06-22-2007 06-22-2007
06-22-2007
06-22-2007
06-22-2007 06-22-2007 06-29-2007
06-29-2007 06-29-2007
06-29-2007
06-29-2007 06-29-2007 06-29-2007 06-29-2007 06-29-2007 06-29-2007

RENEWAL
06-08-2007 06-08-2007 06-08-2007 06-15-2007
06-15-2007 06-15-2007
06-15-2007
06-15-2007
06-15-2007 06-15-2007 06-15-2007 06-15-2007
06-22-2007
06-22-2007 06-22-2007 06-22-2007
06-22-2007
06-22-2007 06-22-2007 06-22-2007
06-22-2007
06-22-2007
06-22-2007 06-22-2007 06-29-2007
06-29-2007 06-29-2007
06-29-2007
06-29-2007 06-29-2007 06-29-2007 06-29-2007 06-29-2007 06-29-2007

REIN-

June 2007

Page 13

LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JUNE 2007

MB

ORIGINAL

ID#

COMPANY NAME

CITY

ST

CD

APPROVAL

RENEWAL

22667 22682 15346

Regional Mortgage, Inc. Home Mortgage Lending, LLC iwayloan, L.P.

Gainesville GA

B

Atlanta

GA

B

Houston

TX

L

06-29-2007 06-29-2007 02-25-2000

06-29-2007 06-29-2007 06-22-2007

6443 Southern Financial Mortgage Cor- Cumming

GA

B

poration (Reinstated as Broker)

13529 Wanda P. Simmons

Bogart

GA

B

06-28-1993 05-29-1998

06-29-2007 06-29-2007

16035 1st Republic Mortgage, Inc. (New Floral Park

NY

L

York)

22410 Evest Lending, Inc.

Westbrook

ME

L

08-25-2000 04-13-2007

06-29-2007 06-29-2007

REINSTATED
06-22-2007 06-29-2007 06-29-2007 06-29-2007 06-29-2007

TOTAL: 53

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

License Status Indicators

(MB CD) - Mortgage License Codes

*

Upgrade Broker to Lender

B

Broker

+

Downgrade Lender to Broker

L

Lender

#

Upgrade Lender to Registrant

P



Downgrade Registrant to Lender

R

Processor Registrant

Page 14

June 2007

Georgia Department of Banking and Finance
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
We're on the Web! dbf.georgia.gov

FY 2008 Renewal Period Closes
T he FY2008 license renewal application period ended June 30, 2007. Licenses not renewed by that date are now considered to be expired. No new mortgage business may be conducted under an expired license!
To conduct GRMA business, the expired license must now be REINSTATED. To reinstate, Applicants must complete and submit a "REINSTATEMENT APPLICATION". This is an option within the license application package, and all required information MUST be submitted, along with the reinstatement fee of $250, the license fee for the type of license held, and any outstanding assessed fines.
If additional information is required on the reinstatement, the applicant will be contacted. All fines and fees must be paid before a license can be reinstated. Brokers who failed to obtain Continuing Education (CE) credits MUST obtain those credits in order to reinstate, and the late CE fine imposed must be paid to reinstate.
Brokers note that if your lenders EVER need to check the status of your license, go to: http://dbf.georgia.gov/dbfmtg on the Web - under the selection Mortgage Licensee Search Page, the official listing regarding license status.

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.