NDFI MONTHLY MORTGAGE SUMMARY June 2008 Georgia Department of Banking & Finance-- Non Depository Financial Institutions Division MonthlMy oSnutmhmlyaSruymomf aMroyrotgf aMgoerAtgcatgiveitAicetsivfiotrietshfeoPr etrhieodPeErnidodinEgnJduinneg 2A0p0ri8l 2007 Inside this issue: Page 1 NEWS NEWS ITEMS NATIONAL NEWS Non FHA-approved Mortgage Brokers 1 NATIONAL NEWS Non FHA-approved Mortgage Brokers Forward Mortgages may also act as a disguised referral fee for steering the borrower to the FHA-approved lender or loan correspondent, which is in violation of section 8(a) of RESPA. GEORGIA NEWS Proposed RuleMaking 2 Nationwide Mortgage Licensing 3 System (NMLS) License Distribution 3 ADMINISTRATIVE ITEMS Administrative Actions 4-9 Fines 9 Licenses Revoked, 10Expired...Denied 12 Licenses Approved & Reinstated 13 Customer Service Stars 14 (HUD MORTGAGEE LETTER 2008-17) (The Department has recently received many questions regarding the ability of non-FHA-Approved mortgagees to participate in originating FHA mortgages. The following is taken directly from the above noted Mortgagee Letter.) June 20, 2008--This Mortgagee Letter reminds lenders of existing FHA policy regarding the use of non FHA-approved mortgage brokers when originating FHAinsured forward mortgages. FHA loan origination services must be performed by a FHA-approved lender or FHA-approved mortgage broker (loan correspondent). A FHA-approved loan correspondent may be compensated for the actual loan origination services it performs either directly by the consumer or indirectly by the FHA-approved lender without being in violation of either the Real Estate Settlement Procedures Act (RESPA) statute and regulations or FHA regulations. In RESPA Policy Statement 1999-1 (FR-4450N-01), the Department (HUD) identified the services normally performed in the origination of a loan. It has been FHA's experience that when non FHA-approved entities perform origination functions and services on FHAinsured loans, the instances of serious compliance problems increase as do the associated risks. As a result, there are particular origination functions and services that FHA requires to be performed by an FHA-approved lender or loan correspondent: taking information from the borrower and filling out the loan application; collecting financial information (tax returns, bank statements) and other related documents that are part of the application process; initiating/ordering Verifications of Employment and Deposit; initiating/ordering request for mortgage and other loan verifications; initiating/ordering appraisals; Useful Links MORTGAGE FORMS: DBF.GEORGIA.GOV/ DBFMTGFORMS UPDATING LICENSE INFORMATION DBF.GEORGIA.GOV/ DBFMTGFORMS MORTGAGE SUMMARY DBF.GEORGIA.GOV/ DBFMTGSUMMARY While FHA regulations permit a borrower to engage a broker who is not FHA-approved to assist him/her in obtaining mortgage financing (24 CFR 203.27(e)), the loan origination services may not be performed by that broker and the FHA approved mortgagee shall not compensate the broker for such services. FHA requires that these services be performed by either an FHA-approved lender or loan correspondent. RESPA prohibits the payment of duplicative fees. The payment to the unapproved broker for duplicated services amounts to an unearned fee in violation of section 8(b) of RESPA. Further, this payment initiating/ordering inspections or engineering reports; providing disclosures (truth in lending, good faith estimate and others) to the borrower(s); maintaining regular contact with the borrower, real estate professional, and lender between loan application and closing to apprise them of the status of the application and gather any additional information needed; ordering legal documents; and (Continued on page 2) Page 2 June 2008 News--Continued ("Non-FHA Brokers" Continued from page 1) determining whether the property is in a flood zone or ordering such service. Other services that are considered counseling in nature (e.g., educating prospective borrowers in the home buying and financing process, advising the borrower about different types of loan products available, and demonstrating how closing costs and monthly payment could vary under each product), may be performed by a non FHA-approved broker so long as the services provided constitute meaningful counseling, and not steering. Under RESPA Policy Statement 1999-1, when "counseling type" services are performed, HUD also looks at whether, (1) counseling gave the borrower the opportunity to consider products from at least three different lenders; (2) the entity performing the counseling would receive the same compensation regardless of which lender's product were ultimately selected; and (3) any payment made for the "counseling type" services is reasonably related to the services performed. In these instances, the fee charged must be paid from the mortgagor's own available assets, must be disclosed on the HUD-1 at closing and a copy of the contract for these services must be included in the loan file submitted for insurance endorsement. Under no circumstances may a borrower be charged a fee that is not commensurate with the amount normally charged for similar services. If the payment bears no reasonable relationship to the market value of the services provided, the excess over the market rate may be used as evidence of a compensated referral or unearned fee in violation of section 8(a) or (b) of RESPA and 24 CFR 3500.14(g). RESPA provided further guidance to industry regarding payments by lenders to mortgage brokers in Policy Statement 1999-1. While the policy statement specifically speaks of lender payments to mortgage brokers, those payments are indirectly paid by the consumer and the policy statement would apply equally to payments made directly by the consumer. If you have any questions regarding this Mortgagee Letter, please contact the FHA Resource Center at 1800-CALLFHA (1-800-225-5342). Sincerely, Brian D. Montgomery Assistant Secretary for Housing Federal Housing Commissioner GEORGIA NEWS PROPOSED RULEMAKING Pursuant to the provisions of the Georgia Administrative Procedures Act, Official Code of Georgia Annotated (O.C.G.A.) Chapter 50-13 and by authority of O.C.G.A. 7-1-61, 7-1-663; 7-1-1012, and other cited statutes, the Georgia Department of Banking and Finance hereby gives notice of its intent to adopt new and amended rules. A synopsis and purpose precedes each proposed rule change, with background information and explanation where applicable. Comments to the Department of Banking and Finance must be received by July 31, 2008, no later than 4:30 p.m. Specific to Mortgage Licensees are the following changes: 80-11-2-.01 Location Requirement and Minimum Retention Period. A citation correction has been made to this Rule. No substantive changes have been made. 80-11-2-.02 Minimum Requirements for Books and Records. A provision was added to require the maintenance of certain information relative to employees, including date of hire, criminal background check, and date the Department website was reviewed to verify eligibility for employment. Also, clarifications are proposed to subpart 1(f) of the Rule detailing what constitutes payroll records and specifying that copies of such records must be maintained by a licensee or registrant for employees or contractors even if the filing of these forms with the Internal Revenue Service was done by an agent. 80-11-3-.01 Administrative Fines. This Rule has been changed to meet the requirements contained in 7-1-1004(i). Violations of the Rule which occurred prior to July 1, 2007, that resulted in administrative action reflect a 3 year look-back period for employees. Violations of the Rule which occurred on or after July 1, 2007, that resulted in administrative action reflect a 5 year look-back period for employees. The fine for violations of these rules has been increased to $5,000. To learn more and to read the proposed rules, go to the following URL on our website: http://dbf.georgia.gov/internal/downloads/?url=/vgn/images/ portal/ cit_1210/24/35/116334665June2008NoticeofProposedRulema king.pdf June 2008 Page 3 News--Continued Nationwide Mortgage Licensing System As most of you are aware, in 2007 the Department announced its intent to participate in the Nationwide Mortgage Licensing System (NMLS), a licensing system sponsored by the American Association of Residential Mortgage Regulators and the Conference of State Bank Supervisors. State mortgage regulators from around the country have been working since 2003 to develop a nationwide licensing system for the residential mortgage industry designed to improve supervision of the mortgage industry, streamline the licensing process for mortgage companies and professionals, and enhance consumer protection. The NMLS is a web-based system that allows state licensed mortgage lenders, mortgage brokers, and loan officers to apply for, amend, update or renew licenses or registrations online for all participating state agencies, using a single set of uniform applications. The NMLS offers greater uniformity and transparency to the mortgage industry while maintaining and strengthening the ability of state regulators to monitor the industry and protect their citizens. NMLS began operation on January 2, 2008. Many of you have inquired whether the Department is already participating in the system, as you are licensed in other states on the system, and have asked for the date when the Department will go on-line. There are many issues surrounding a smooth transition for licensees from the Department's current paper-based and on- line system to the new NMLS--such as standardizing renewal due dates, annual reporting requirements, reviewing continuing education requirements, etc. As such, an exact date for beginning the process has yet to be determined. However, a target timeframe is currently set for early 2009, at which time licensees will renew with the Department and at the same time "transition" to the new system - transition being to establish a record and establish authorized users on the NMLS as well as renew for the FY2010 renewal. Later in 2009, those licensees and registrants who have transitioned to the new system and been approved for renewal, as well as new licensees approved by the Department in 2009, will begin the renewal process for the CALENDAR YEAR 2010 license. That process will be done through the NMLS system, with those renewals subsequently approved by the Department. It will be an involved time of transition for both the Department and licensees/registrants. More information will be disseminated to licensees/registrants as required. In the meantime, please visit the NMLS website at: http:// www.stateregulatoryregistry.org/NMLS//AM/Template.cfm? Section=Home3 for additional information. RULES COMMENTS Comments to the Department of Banking and Finance concerning the rules which have been published must be received by: July 31, 2008, by the close of business (4:30 p.m) 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 FY2009 License Distribution For those licensees successfully completing the submission of their renewal applications for licensing for FY2009, please note that approval letters and license certificates have been e-mailed to the main e-mail contact on record. If you did not receive your new license please contact the office. For late renewing applicants and/or those licensees who renewed but who have outstanding renewal issues, those licenses cannot be approved until the application has been reviewed and approved or the issues are resolved. Such licenses will expire and must be reinstated. SPEAKING ENGAGEMENTS There are no upcoming speaking engagements for July, 2008. HOLIDAY CLOSING The Department will be closed on Monday, September 1, for Labor Day. Page 4 June 2008 Administrative Actions CEASE AND DESIST ORDERS--ISSUED Abby Mortgage & Financial Corp., Lawrenceville, GA (license no. 20731) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Affordable Home Mortgage, Inc. Tampa, FL (license no. 21861) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Afstar Mortgage, LLC, Snellville, GA (license no. 20278) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Alam, Syed Q. dba United Mortgage Financial, Peachtree City, GA (license no. 22642) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. All In One Mortgage/Broker Services, Inc. dba C.H.A.M.P.S., Douglasville, GA (license no. 22405) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. American Lending Group, Inc. (MO), St. Peters, MO (license no. 20259) Cease and Desist Order issued May 13, 2008 became final on June 12, 2008. America One Mortgage Corporation dba America One Mortgage Group, Encinitas, CA (license no. 22691) Cease and Desist Order issued May 2, 2008 became final on June 4, 2008. Americawide, Inc., Westlake Village, CA Cease and Desist Order issued May 1, 2008 became final on June 1, 2008. Americor Lending Group, Inc., Irvine CA (license no. 20908) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. AmLan, Inc., Atlanta, GA (license no. 18834) Cease and Desist Order issued May 22, 2008 became final on June 21, 2008. Atlantic Equity Mortgage Services, Inc, Duluth, GA (license no. 19367) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Azari, Fariba V., Westlake Village, CA Cease and Desist Order issued May 15, 2008 became final on June 5, 2008. Beacon Mortgage Financial Services, Inc, Norcross, GA (license no. 18765) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Benefit Mortgage Company, Carrollton, GA (license no. 18690) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Bond Street Mortgage, LLC, Tucker, GA (license 15581) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Brookwood Mortgage Funding Corp., Atlanta, GA (license no. 6526) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. June 2008 Administrative Actions CEASE AND DESIST ORDERS--ISSUED Page 5 Brown, Corey L., Ellenwood, GA Cease and Desist Order issued May 15, 2008 became final on June 15, 2008. Barbara Butler dba Believerslife Mortgage, Pooler, GA (license no.21856) Cease and Desist Order issued May 15, 2008 became final on June 16, 2008. Capital City Mortgage Incorporated (CA), Costa Mesa, CA (license no. 21958) Cease and Desist Order issued May 12, 2008 became final on June 11, 2008. Capital Lending, Inc., Atlanta, GA (license no. 15643) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Carter, Sanford L., Hinesville, GA (license no. 18405) Cease and Desist Order issued May 5, 2008 became final on June 12, 2008. Comer, Darwyn Shane, dba Southeastern Express Mortgage, Macon, GA (license 12744) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Company, Inc (The), dba Main Source Mortgage, Norcross, GA (license no. 18248) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Continental Mortgage Corporation, Norcross, GA (license no. 19770) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Dominion, Inc. dba Dominion Loan Services, Buford, GA (license no. 22233) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Dream Makers (of America), LLC, Columbus, GA Cease and Desist Order issued May 23, 2008 became final on June 23, 2008. Duke Mortgage, LLC, East Point, GA (license no. 20001) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Easy Money Lending, Inc., Duluth, GA (license no. 20523) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Echelon Home Loans, In., Kennesaw, GA (license no. 19915) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Equitable Consulting, Inc., Atlanta, GA (license no. 16037) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Equitable Funding Group, Inc., Atlanta, GA (license no. 20277) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Evergreen Mortgage Corporation, Decatur, GA (license no. 14779) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Executive Mortgage Group, The , Inc., Atlanta, GA (license no. 19827) - Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Page 6 Administrative Actions June 2008 CEASE AND DESIST ORDERS--ISSUED Fidelity Mortgage Services Group, Inc., Brunswick, GA (license no. 18492) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. First Coast Mortgage, LLC, Jacksonville, FL (license no. 21414) Cease and Desist Order issued May 29, 2008 became final on June 28, 2008. Genesis Financial Services, Inc, Stockbridge, GA (license no. 12694) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Gold Key Mortgage, Inc., Jefferson, GA (license no. 18118) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Hall, Larry D., Atlanta, GA Cease and Desist Order issued May 27, 2008 became final on June 27, 2008. Home Lending Corporation, Atlanta, GA (license no. 6633) - Cease and Desist Order issued May 28, 2008 became final on June 30, 2008 Homebridge Financial Group, Inc., Duluth, GA (license no. 19493) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Homesense, Inc., Douglas, GA (license no. 22362) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Integrity Discount Mortgage, Inc., Oakland, FL (license no. 18603) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Jo & B Enterprises Corp. dba Global Mortgage & Financial Services, Smyrna, GA (license no. 16876) Cease and Desist Order issued May 15, 2008 became final on June 16, 2008. Lender's Gate, LLC, Stone Mountain, GA (license no. 18853) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Lendia, Inc., Marlborough, MA Cease and Desist Order issued May 15, 2008 became final on June 15, 2008. Leonard, Francis T., Temecula, CA Cease and Desist Order issued May 15, 2008 became final on June 5, 2008. Lewis Royce C., III and Linda, dba Capital Mortgage Service, Lubbock, TX Cease and Desist Order issued May 23, 2008 became final on June 23, 2008. Mahan, Maria, Decatur, GA Cease and Desist Order issued May 15, 2008 became final on June 15, 2008. Miller Mortgage Group (The), Inc., McDonough, GA (license no. 20291) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Mortgage By Design, Inc., Smyrna, GA (license no. 19195) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. June 2008 Administrative Actions CEASE AND DESIST ORDERS--ISSUED Page 7 Mortgage Central Corporation, Norcross, GA (license no. 20043) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Mortgage Lending & Investments, Inc., North Las Vegas, NV (license no. 21862) Cease and Desist Order issued May 12, 2008 became final on June 11, 2008. North Metro Atlanta Mortgage, LLC, Tucker, GA (license no. 20839) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Nationwide Mortgage Lenders Corporation, Fort Lauderdale, FL (license no. 21795) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Nesbitt Financial Services, LLC, Kennesaw, GA (license no. 19369) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. New Equity Financial Corporation dba New Equity Mortgage, Louisville, KY (license no. 18148) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Newbold, Colin Emmette dba New Bold Home Loans & Investments, Lilburn, GA (license no. 22737) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Optimal, Inc. dba Optimal Mortgage, Columbus, GA (license 16082) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Par Two Investors, Inc. dba Heritage Home Center, Leesburg, GA (license no. 11733) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Park Avenue Mortgage, LLC, Hiram, GA (license no. 19547) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Principle Mortgages Corporation, Dacula, GA (license no. 22288) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. R&J Capital Group, LLC dba New Path Mortgage, Forest Hills, NY (license no. 21077) Cease and Desist Order issued May 1, 2008 became final June 1, 2008. Red Door Mortgage, LLC, Atlanta, GA (license no. 22411) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Results Mortgage Services, LLC, Alpharetta, GA (license no.19420) Cease and Desist Order issued May 12, 2008 became final on June 11, 2008. Resurgens Lending Group, Inc., Atlanta, GA (license no. 21060) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Sledge, Joe, dba First Choice, Cleveland, TN (license no. 17330) Cease and Desist Order issued May 2, 2008 became final on June 3, 2008. Storehouse Mortgage, LLC, Stone Mountain, GA (license no. 18086) Cease and Desist Order issued March 11, 2008 became final on June 30, 2008. Page 8 June 2008 Administrative Actions CEASE AND DESIST ORDERS--ISSUED Striker Lending, LLC, Atlanta, GA (license no. 22504) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Sunrise Mortgage Services, Inc., Atlanta, GA (license no. 18512) Cease and Desist Order issued May 29, 2008 became final on June 30, 2008. Tagman Financial Services, Inc., Lilburn, GA (license no. 17475) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Trinity One Mortgage, Inc., Marietta, GA (license no. 19704) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Torres, Ana Puentes, Acworth, GA Cease and Desist Order issued May 27, 2008 became final on June 17, 2008. United California Systems International, Inc. dba United International Mortgage & Investment Co., Los Angeles, CA (license no. 13817) Cease and Desist Order issued May 13, 2008 became final on June 12, 2008. USA Liberty Mortgage, Inc., Smithtown, NY (license no. 20805) Cease and Desist Order issued May 13, 2008 became final on June 12. 2008. Vesta Home Loans, Inc., Hollywood, FL Cease and Desist Order issued May 15, 2008 became final on June 15, 2008. Victory Mortgage, Inc., Douglasville, GA (license no. 15686) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. Woodhouse, Jacquelyn, dba After 5 Mortgage Company, Columbus, GA (license no. 17059) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. WW Financial Services, Inc., Sandy Springs, GA (license no. 21164) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. World Properties International Mortgage Direct, Glastonbury, CT Cease and Desist Order issued May 15, 2008 became final on June 15, 2008. Wyndham Park Financial Services, Inc., Decatur, GA (license no. 13240) Cease and Desist Order issued May 28, 2008 became final on June 30, 2008. June 2008 Administrative Actions CEASE AND DESIST ORDERS--LIFTED None Page 9 FINAL CONSENT ORDERS ISSUED Apex Lending, Inc., Clearwater, FL (license no. 14840) Consent Order issued on June 12, 2008 became final on June 12, 2008. SUPERIOR COURT INJUCTIONS ISSUED None 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 11 Licensees fined for Advertising Violations 2 Licensees for Prohibited Acts 3 Licensees fined for Loan Files Not Properly Maintained 1 Licensee fined for Doing Business w/ Unlicensed Entity 4 Licensees fined for Unapproved Branch 6 Licensees fined for Unapproved Branch Manager 3 Licensee fined for Background Check Violation 3 Licensees fined for Books & Records 1 Licensee fined for Change in Mgmt w/o Approval 11 Licensees fined Continuing Education Data File Late 2 Licensees fined for GAFLA violations 1 Licensee fined for Relocation of Office w/o notice Page 10 June 2008 ID# 5860 5924 6389 6526 6565 6633 7108 7227 11523 11733 12373 12435 12694 12744 13240 13309 13817 14779 15581 15643 15686 16037 16082 16304 16575 16613 16815 16876 17051 17059 17076 17096 17330 17475 17911 18086 18118 18119 18148 18197 18248 LICENSEES/REGISTRANTS REVOKED, EXPIRED, SURRENDERED, WITHDRAWN OR DENIED IN JUNE 2008 NAME COTTON STATE MTG INC JEFFERSON MTG SVCS INC INTL MTG BROKERS CO BROOKWOOD MTG FUNDING COR OPTION ONE MTG CORP HOME LENDING CORP EQUITY EXPRESS INC BEAR STEARNS RES MTG CORP CMA MTG INC PAR TWO INVESTORS INC TRINITY PK MTG INC SUCCESS FINL SVCS INC GENESIS FINL SVCS INC COMER, DARWYN S WYNDHAM PK FINL SVCS INC PARAMOUNT MTG SVCS INC UNITED CA SYS INTL INC EVERGREEN MTG CORP BOND STREET MTG LLC CAP LENDING INC VICTORY MTG INC EQUITABLE CONSULTING INC OPTIMAL INC NETHERY, BUDDY F C&S MTG SVCS INC PRIMEQUITY LLC P&B MTG ASSOC INC JO & B ENTERPRISES CORP FAMILY AMER MTG CORP WOODHOUSE, JACQUELYN STOCKTON TURNER LLC SALEM MTG CORP SLEDGE, JOE TAGMA FINL SVCS INC ONE CALL MTG INC STOREHOUSE MTG LLC GOLD KEY MTG INC SOUTHERN INV MTG CORP NEW EQUITY FINL CORP TOWER MTG & FINL SVCS COR THECOMPANY INC CODE LD BD BD BD LD BD BD LD LD BD BD LD BD BD BD LD LD BD BD BD BD BD BD BD BD LD BD BD BD BD LD LD BD BD BD BD BD BD LD LD BD REVOKED EXPIRED SURRENDERED 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-12-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-16-2008 06-30-2008 06-03-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 WITHDRAWN 06-09-2008 06-24-2008 06-04-2008 DENIED 06-03-2008 06-30-2008 06-05-2008 06-05-2008 06-03-2008 06-19-2008 06-10-2008 06-16-2008 06-30-2008 06-27-2008 06-30-2008 06-19-2008 06-03-2008 06-30-2008 06-13-2008 06-30-2008 06-30-2008 06-11-2008 June 2008 Page 11 ID# 18405 18492 18512 18575 18603 18690 18765 18834 18853 18954 19033 19081 19195 19367 19369 19420 19493 19547 19584 19704 19770 19827 19915 19948 20001 20043 20188 20259 20277 20278 20291 20299 20465 20473 20523 20731 20742 20805 LICENSEES/REGISTRANTS REVOKED, EXPIRED, SURRENDERED, WITHDRAWN OR DENIED NAME CARTER, SANFORD L FIDELITY MTG SVCS GRP INC SUNRISE MTG SVCS INC PROCESS NETWORK INC INTEGRITY DISCOUNT MTG IN BENEFIT MTG CO BEACON MTG FINL SVCS INC AMLAN INC LENDERS GATE LLC PRIVATE LENDING GRP INC MACQUARIE MTGS USA INC CROSSWAY MTG GRP MTG BY DESIGN INC ATLANTIC EQUITY MTG SVCS NESBITT FINL SVCS LLC RESULTS MTG SVCS LLC HOMEBRIDGE FINL GRP INC PARK AVE MTG LLC ASSURED LENDING CORP TRINITY ONE MTG INC CONTINENTAL MTG CORP EXECUTIVE MTG GRP INC ECHELON HM LOAN INC SOUTHERN MTG BROKERS ASSN DUKE MTG MTG CENTRAL CORP CUMBERLAND MTG BROKERS AMER LENDING GRP INC EQUITABLE FUNDING GRP AFSTAR MTG LLC MILLER MTG GRP INC NEW WORLD MTG INC OLD COMMONWEALTH MTG LLC ALLEGIANCE MTG INC EASY MONEY LENDING INC ABBY MTG & FINL CORP CODE BD BD BD PD BD PD BD BD BD BD LD BD BD BD BD BD BD BD LD BD BD BD BD BD BD BD BD LD BD BD BD LD BD BD BD BD IN JUNE 2008 REVOKED EXPIRED 06-12-2008 06-30-2008 06-30-2008 SURRENDERED 06-30-2008 06-30-2008 06-30-2008 06-21-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-11-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-05-2008 06-12-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 WITHDRAWN 06-03-2008 06-25-2008 06-23-2008 06-30-2008 06-26-2008 06-17-2008 06-30-2008 06-16-2008 06-27-2008 DENIED ALLGOOD FINL GRP LLC USA LIBERTY MTG INC 06-12-2008 06-27-2008 Page 12 June 2008 LICENSEES/REGISTRANTS REVOKED, EXPIRED, SURRENDERED, WITHDRAWN OR DENIED IN JUNE 2008 ID# 20809 20839 20908 20992 21000 21060 21077 21164 21178 21414 21490 21556 21576 21648 21732 21783 21795 21856 21861 21862 21921 21937 21958 22072 22110 22233 22288 22362 22383 22405 22411 22493 22504 22642 22672 22691 22705 22737 NAME DREAM HM FUNDING INC N METRO ATL MTG LLC AMERICOR LENDING GRP INC FREE HM MTG INC MTG HUNTERS LLC RESURGENS LENDING GRP INC R&J CAP GRP WW FINL SVCS INC N AMER HM FUNDING INC 1ST COAST MTG LLC OPTIONS MTG SVCS LLC LIFELINE FINL SVCS INC MTG ETC LLC CLAIRMONT FUNDINGS LLC LENDING GRP LLC AMER STANDARD HM LOANS LL NATIONWIDE MTG LENDERS CO BUTLER, BARBARA AFFORDABLE HM MTG INC MTG LENDING & INVESTMENTS MBA FINL ASSOC INC SUPERIOR MTG CORP (VA) CAP CITY MTG INC (CA) 1ST RELIANCE HM LOANS 5 STARS HM LOAN LLC DOMINION INC PRINCIPLE MTGS CORP HOMESENSE INC DFS LENDING LLC ALL IN ONE MTG/BROKER SVC RED DOOR MTG LLC GLOBAL MTG LLC STRIKER LENDING LLC ALAM, SYED Q EDGEWATER FINL GRP LLC AMER ONE MTG CORP EASY CHOICE FINL INC NEWBOLD, COLIN EMMETTE CODE BD BD LD BD BD BD BD BD BD BD BD LD BD BD BD BD BD BD BD LD BD BD BD BD BD BD BD BD BD BD BD BD BD BD BD BD BD BD REVOKED 06-05-2008 EXPIRED SURRENDERED 06-30-2008 06-30-2008 06-30-2008 06-01-2008 06-30-2008 06-28-2008 06-30-2008 06-16-2008 06-30-2008 06-11-2008 06-11-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-30-2008 06-04-2008 06-30-2008 WITHDRAWN 06-26-2008 06-30-2008 06-11-2008 06-16-2008 06-04-2008 06-03-2008 06-27-2008 06-05-2008 06-05-2008 06-30-2008 06-12-2008 06-30-2008 06-30-2008 06-10-2008 06-04-2008 06-03-2008 06-30-2008 DENIED TOTAL: 117 June 2008 Page 13 ID# 23363 23385 23403 23418 23428 23383 23401 23404 23411 23441 23442 23443 22873 23395 23417 LICENSEES/REGISTRANTS APPROVED OR REINSTATED IN JUNE 2008 COMPANY NAME CITY ST MB CD ORIGINAL RENEWAL Win Financial Corp. Sacramento CA B APPROVAL 06-06-2008 06-06-2008 One Mortgage Network, LLC San Diego CA L 06-06-2008 06-06-2008 Royal United Mortgage, LLC Indianapolis IN L 06-06-2008 06-06-2008 The Home Loan Consulting Group, Inc. Mortgage of America Lenders, LLC Louisville Marietta KY B GA B 06-06-2008 06-06-2008 06-06-2008 06-06-2008 Dennis Floyd Dean Bremen GA B 06-13-2008 06-13-2008 StoneWater Mortgage Corporation Tucson AZ L 06-13-2008 06-13-2008 Empire Mortgage and Financial Group, LLC Virgin Money USA, Inc. Dacula Waltham GA B MA L 06-13-2008 06-13-2008 06-13-2008 06-13-2008 Fortes Financial, Inc. Laguna Hills CA L 06-13-2008 06-13-2008 Senior Mortgage Services, LLC Ellijay GA B 06-13-2008 06-13-2008 Jennifer Margaret Sears Augusta GA B 06-13-2008 06-13-2008 GenEquity Mortgage, Inc. Irving TX L 06-20-2008 06-20-2008 Serge Wandji Riverdale GA B 06-20-2008 06-20-2008 Jong Sook Han Doraville GA L 06-20-2008 06-20-2008 REINSTATED 23444 Dan Edward Booth 23463 Lady MacBeth of Georgia, LLC 15188 23378 23399 23400 23410 23436 23439 23456 23461 23468 22018 Susan Faith Pruitt + Mortgage Financial Group Corp. Tripoint Mortgage Group, Inc. Indigo Financial Group, Inc. Carol Leticelia Jones Shadowband Systems, Inc. Extreme Mortgage Consultants Group, LLC BestRate Mortgage, LLC Good Faith Financial, Inc. Fairchild Mortgage, LLC Kara Eve Garcia Ray City GA B Saint Simons GA B Island Dahlonega GA B South Jordan UT B San Diego CA B Lansing MI L Duluth GA B Loganville GA L Atlanta GA B Jacksonville FL B Stockbridge GA B Atlanta GA B Duluth GA B 06-20-2008 06-20-2008 12-03-1999 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 01-12-2007 06-20-2008 06-20-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-27-2008 06-06-2008 06-06-2008 TOTAL: 28 Page 14 June 2008 DBF's Customer Service Stars for the Month of March 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: Irene Harper, Applications Analyst (NDFI-Main Office): The Department received comments regarding Irene from two different cus- tomers. One customer stated: " Dear Mrs. Harper, I just received my license and I wanted to thank you for all of your assistance in the application review and analysis process. When my fingerprint cards wouldn't scan, you let me know immediately and provided new cards in a very timely manner. Your personal attention to my application, your knowledge and your ability to answer my ques- tions are all very much appreciated." Another customer stated: "Mrs. Harper, I want to say thank you for all your help. I really ap- preciate your excellent service. I will always remember your help. You really made the process a pleasure. This wonderful experi- ence will go a long way with me." 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. Service-Oriented. CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!! June 2008 Page 15 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 LICENSE STATUS CHANJGuEdINgDmICeAnTtO/CRSla&imMONRoTtGifAiGcEatLiIoCnENSE CODES--(In Tables) As a reminder to licensees during the renewal period, O.C.G.A. 7-1-1007 requires reporting to the Department on certain actions brought against licensees, and states the following: License Status Indicators (MB CD) - Mortgage License Codes "(a) A licensee shall give notice to the department by registered or certified mail or statutory over- night delivery of any action which may be brought against it by any creditor or borrower where such action is brought under this article, involves a claim against the bond filed with the department for the purp*oses of cUopmgprliaadneceBwroithkeCrotdoe LSeecntdioenr 7-1-1003 or 7-B1-1004, or involves a clBarimokfoerrdamages in excess of $25,000.00 for a broker and $250,000.00 for a lender and of any judgment which may be entered against it by any creditor or any borrower or prospective borrower, with details sufficient to identify the action or judgment, within 30 days after the commencement of any such action or the entry+of any sDucohwjundggrmadeentL. "ender to Broker L Lender The Department often obtains information regarding judgments and claims from public sources or other regulators, not from the licensee. It is important to remember that such notification to the Depa#rtment bUyptghreadliceeLnseenediesrretoquRireegdisbtyralanwt, and any lPicensee subject to suPchrocclaeimssoorrjudgment must report details to the Department according to the law as noted above. We're on the Web! dbf.georgia.gov Downgrade Registrant to Lender R 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. Also, please indicate which publication(s) you would like to receive. See the list under PUBLICATIONS on our home page.