Monthly mortgage summary, Mar. 2010

Monthly Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
NEWS ITEMS 2009 Annual 2 Mortgage
Questionnaire
NDFI Customer 2 Service Stars
ADMINISTRATIVE ITEMS Administrative 3 Actions
Fines 4 Licenses Approved 4
and Reinstated
Licenses Revoked, 8 Expired, Withdrawn
Contact Information 12

Mortgage Loan Originator Application Deadline Extended
In late March, it came to the attention of the Georgia Department of Banking and Finance ("Department") that issues such as limited testing availability and maintenance on the test scheduling systems may impede mortgage loan originators from filing complete applications for licensure by the March 31, 2010, deadline pending at that time.
To give all mortgage loan originators the opportunity to file timely applications in light of these unforeseen occurrences, the Department extended the filing deadline for all applicants. To be conditionally allowed to originate residential mortgage loans until final action is taken on an application by the Department, a mortgage loan originator must submit a complete application for a Georgia license by no later than Friday, April 16, 2010.
Please be aware that our staff is reviewing loan originator applications in date order received. If an application is complete (meaning the 20 hours of education have been obtained, both the National test and the Georgia state test have been passed, the fingerprints have been submitted through NMLS, and the jurisdiction specific documents have been received by the Department), the review process will be more efficient.
In NMLS your application will show as "Pending-Incomplete" until it is approved. If your application is not complete, you will be sent an e-mail through NMLS outlining any deficiencies or requirements that are still needed to complete it. It is imperative that your e-mail address in NMLS is accurate and that communications sent do not inadvertently get treated like Spam.
We appreciate your patience. The Department's staff is working as quickly as possible to review the large number of applications received to date.

"Safeguarding Georgia's Financial Services"

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March 2010

2009 Annual Mortgage Questionnaire
Please note that the deadline for completing the Annual Questionnaire has been extended to April 16, 2010.
Information regarding calendar year 2009 operating and disclosure data must be submitted to the Department by all active mortgage brokers, processors, lenders and registrants that held a valid Georgia residential mortgage license/registration during 2009. The information requested is the same as in prior years and must be completed and submitted online at:
https://bkgfin.dbf.state.ga.us/MortgageDocs/AnnualQuestionnaire.html

NDFI CUSTOMER SERVICE STARS
It is the Department's goal to provide excellent customer service by meeting and exceeding the expectations of our customers. Along those lines, we would like to recognize the following individuals for going above and beyond in serving our customers:
Supervisory Manager Janet Anderson, Senior Financial Examiner Bob Bauguss, and Non-Depository Financial Institutions Division (Mortgage Section) staff - The Department received the following comments from a customer stating: "By the way, Bob Bauguss has been extraordinary in his assistance. He answered an e-mail I sent him Friday at 8am Sunday morning. It is mind boggling how wonderful your department has been through all this. Every last one of you needs to be commended for the work you have been doing during the MLO licensing process. Thank you so much for all your help getting us through this."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!

OFFICE CLOSING
This is a reminder that the Department will be closed on Monday, April 26th for Confederate Memorial Day.

March 2010
ADMINISTRATIVE ACTIONS

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Cease and Desist Orders Which Became Final
Gardner, James P., Deerfield Beach, FL - Order to Cease and Desist issued 04/02/2009 became final 03/11/2010.
Home Retention Solutions Team, Inc., Tucker, GA - Order to Cease and Desist issued 02/17/2010 became final 03/22/2010.
Hubert Eddie Causey, Warner Robins, GA (license# 18400) - Order to Cease and Desist issued 02/02/2010 became final 03/05/2010.
Wiley, Earl S., Deerfield Beach, FL - Order to Cease and Desist issued 04/02/2009 became final 03/11/2010.

Final Consent Orders
Amaya, Louis A., Scottsdale, AZ - Consent Order issued 03/25/2010 became final 03/25/2010. Arowolo, Olamide, Lilburn, GA - Consent Order issued 03/30/2010 became final 03/30/2010. CitiFinancial Services, Inc., Baltimore, MD (license# 6335) - Consent Order issued 03/23/2010
became final 03/23/2010. iServe Residential Lending, LLC, Scottsdale, AZ (license# 19613) - Consent Order issued
03/25/2010 became final 03/25/2010. Kurtz, Andrew, Scottsdale, AZ - Consent Order issued 03/25/2010 became final 03/25/2010. MTB Mortgage, Inc., Lilburn, GA (license# 20290) - Consent Order issued 03/30/2010 became
final 03/30/2010. Partridge, Maria, LaGrange, GA - Consent Order issued 03/15/2010 became final 03/15/2010. Spooner, Michelle, Lithonia, GA - Consent Order issued 03/04/2010 became final 03/04/2010. Willis, Gary, Scottsdate, AZ - Consent Order issued 03/25/2010 became final 03/25/2010. Wilson, Doug, Scottsdale, AZ - Consent Order issued 03/25/2010 became final 03/25/2010.

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Fine Information

March 2010

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

1 Licensee fined for Books and Records 2 Licensee fined for Unapproved Branch Manager 3 Licensees fined for Advertising violations 1 Licensee fined for acquisition of 25% ownership without approval 47 Licensees fined for GRMA $6.50 fees not paid when due

1 Licensee fined for Miscellaneous / Other 1 Licensee fined for Unapproved Branch 1 Licensee fined for Background Checks violation

March 2010

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Georgia Department of Banking and Finance
2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565
Phone: (770) 986-1136 Fax: (770) 986-1029 or 1655
Email: dbfmort@dbf.state.ga.us
We're on the Web! dbf.georgia.gov

March 2010
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/processors, lenders and loan originators, money service businesses, international banking organizations, and bank holding compa-
nies 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.

Sign-up to Receive this Publication
This publication is delivered to interested parties via email and is also available from the Department's website at: http://dbf.georgia.gov under Publications, Mortgage Summary.
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, e-mail address, and the publication to which you wish to subscribe.