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.