Monthly Mortgage Summary Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division Monthly SummMoanrtyhloyfSuMmomrtagryagoef MAocrttigvaigteieAsctfivoirtieths eforPethreioPderEionddEinndginAguAgpursilt 2200017 0 Inside this Issue: NEWS ITEMS NDFI Customer 2 Service Stars ADMINISTRATIVE ITEMS Administrative 3 Actions License Denials 4 Fines 5 Licenses Approved 6 and Reinstated Licenses Revoked, 7 Expired, Withdrawn Contact Information 8 Continuing Education Requirements 2011 License Renewal Process The Department has received numerous calls and e-mails regarding annual continuing education (CE) requirements for the upcoming license renewal period. Please note that the Department will consider the annual CE requirements to have been met for mortgage loan originators or mortgage brokers who have completed the 20 hour pre-licensing education through the Nationwide Mortgage Licensing System (NMLS) in either 2009 or 2010. REMINDER: GRMA per loan fees for the reporting period of January 1, 2010 through June 30, 2010 were due by September 1, 2010. Failure to report by the due date (even if no loans were made and no fees were due) may result in a fine. Go to: https://bkgfin.dbf.state.ga.us/GRMAFee.html to read more. NDFI Outreach AND UPCOMING SPEAKING ENGAGEMENTS Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking at the "Launching The Short Sale Under the S.A.F.E. Act" on September 15th being held at the Georgia Institute of Real Estate, 5784 Lake Forrest Drive, Atlanta, GA 30328. Mr. Carnes will also be speaking at the 3rd Annual Real Estate Industry Day being held on October 25th at the Holiday Inn on Clairemont Road in Downtown Decatur, GA. "Safeguarding Georgia's Financial Services" Page 2 August 2010 CUSTOMER SERVICE STARS FOR THE MONTH OF AUGUST 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: Financial Examiner--Mortgage Fernando Ornelas The Department received comments from a customer stating: "I wanted to take a moment and commend Fernando Ornelas on his professionalism and courtesy while completing my licensing application as a Mortgage Loan Originator. He responded to my questions promptly and thoroughly and was at all times professional in his dealings with me. It makes me proud to be a license holder and a Georgia resident with the knowledge that we have State Employees of this caliber." Supervisory Manager--Mortgage Licensing Janet Anderson and the Mortgage Section The Department received comments from two customers stating: "Congratulations on the Gold Medal Award you received. You and your department have been a tremendous help with special situations regarding the licensing process. Everyone I have contacted, including you, have been a joy to work with. Congratulations again-you deserve it." AND "Thank you to you and the whole Department. I know you have all been overwhelmed with the LO licensing, and yet you have ALL continued to provide assistance and direction with the same courtesy as always. In my book you all are fantastic!" Senior NDFI Division Attorney Helen O'Leary The Department received comments from a customer stating: "I would be remiss if I do not also express a sincere thank you to Ms. O'Leary for her patience in putting up with all my emails. She was so very helpful and always got back to me in record time as she also made me feel I was important." Senior Financial Examiner--Mortgage Betty Thomas The Department received comments from a customer stating: "I love you Betty!!! Thanks a million for your patience, and I appreciate all you did for me. I can't even imagine how many cases you handle, and I thank you for the time you gave me. Please be sure to thank everyone involved." CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!! August 2010 ADMINISTRATIVE ACTIONS Page 3 Cease and Desist Orders Which Became Final 21st Century Financial Center, Inc., Atlanta, GA (license# 5884) - Order to Cease and Desist issued 07/27/2010 became final 08/26/2010. Allen, Shanna Nicole, Carrollton, GA - Order to Cease and Desist issued 07/29/2010 became final 08/19/2010. Anchor All Realty & Mortgage, Inc., Hartwell, GA (license# 18832) - Order to Cease and Desist issued 07/28/2010 became final 08/28/2010. Dream American Mortgage, LLC, Clarkston, GA (license# 23567) - Order to Cease and Desist issued 07/26/2010 became final 08/25/2010. First Covenant Financial, Inc., Lawrenceville, GA (license# 21756) - Order to Cease and Desist issued 07/27/2010 became final 08/26/2010. Georgia Patriot Mortgage, Inc., Alpharetta, GA (license# 18707) - Order to Cease and Desist issued 07/06/2010 became final 08/07/2010. Jeffrey A. Glover, Stone Mountain, GA (license# 17757) - Order to Cease and Desist issued 07/28/2010 became final 08/28/2010. Marvin Simmons, Inc. dba Platinum Capital Lending Group, Smyrna, GA (license# 18537) - Order to Cease and Desist issued 07/29/2010 became final 08/29/2010. Mathew Scott Woodward, Fairburn, GA (license# 18676) - Order to Cease and Desist issued 07/16/2010 became final 08/17/2010. Melvin Lanus, Jr. dba Amwar Mortgage Solutions, Lawrenceville, GA (license# 17369) - Order to Cease and Desist issued 07/21/2010 became final 08/22/2010. Peyton S. Pettus, Monroe, GA (license# 17835) - Order to Cease and Desist issued 07/16/2010 became final 08/17/2010. Pinnacle Division, LLC f/k/a M M S Holdings, LLC d/b/a The Sly Team, Atlanta, GA - Order to Cease and Desist issued 07/16/2010 became final 08/23/2010. Preferred Funding Group, Inc., Woodstock, GA (license# 21534) - Order to Cease and Desist issued 07/23/2010 became final 08/25/2010. Premier Mortgage Services, LLC, Kennesaw, GA (license# 22200) - Order to Cease and Desist issued 07/23/2010 became final 08/23/2010. Priez Corp. dba American Way Mortgage, Snellville, GA (license# 19757) - Order to Cease and Desist issued 07/06/2010 became final 08/05/2010. Page 4 August 2010 ADMINISTRATIVE ACTIONS Cease and Desist Orders Which Became Final (continued) Primrose Financial Corporation, Lithonia, GA (license# 22040) - Order to Cease and Desist issued 07/29/2010 became final 08/29/2010. The CFO Advisory Group Inc. dba Pure Life Mortgage, Norcross, GA (license# 23552) - Order to Cease and Desist issued 07/19/2010 became final 08/18/2010. Wood. Joshua R., Savannah, GA - Order to Cease and Desist issued 07/19/2010 became final 08/19/2010. License Denials August 2010 ADMINISTRATIVE ACTIONS License Denials (continued) Page 5 Fine Information Information regarding fines assessed against a specific licensee for which there is no pending administrative action, is available on an individual licensee basis by submitting a written request to the following e-mail address: dbfmort@dbf.state.ga.us 1 Licensee fined for Change in Management 1 Licensee fined for Unapproved Branch Manager 1 Licensee fined for Failure to Fund FINE REASON 1 Licensee fined for acquisition of 25% ownership without approval 6 Licensee fined for Advertising violations Page 6 August 2010 Due to the large number of MLO licenses approved during June, a separate document is provided at the following link from the Department's website: http://dbf.georgia.gov/vgn/images/portal/cit_1210/63/33/162590680MLOAppsAugust2010.pdf August 2010 Page 7 Page 8 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 August 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.