Monthly mortgage summary, Jan. 2011

Monthly Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
NMLS Mortgage Call 2 Report (continued)
GRMA Fee Reminder 2
Administrative 3 Actions
License Denials 3
Fine Information 4 Licenses Revoked, 4 Expired, Withdrawn Licenses Approved 5
or Reinstated
Contact Information 9

Annual Mortgage Questionnaire
Information regarding calendar year 2010 operating and disclosure data must be submitted by all active mortgage brokers, processors, lenders and registrants that held a valid Georgia residential mortgage license/registration during 2010. The information requested is the same as in prior years and must be completed and submitted online through the Department's secure website: https://bkgfin.dbf.state.ga.us/MortgageDocs/AnnualQuestionnaire.html.
Please note that the website requires a UserID and Password. Login information was sent to each licensee's/registrant's primary e-mail contact currently on record with the Department. Please complete the questionnaire by March 31, 2011.
NMLS Mortgage Call Report Coming Soon!
In April 2011, the Nationwide Mortgage Licensing System (NMLS) is scheduled to launch functionality that will enable mortgage licensees to begin to comply with the SAFE Act's Mortgage Call Report requirement. The NMLS Mortgage Call Report will provide state regulators with timely information about their licensees and will provide industry participants with uniform reporting requirements.
What this means to your company: NMLS functionality will enable companies to submit production and financial information to one or more state regulators on a quarterly basis. In order to meet the SAFE Act requirements most effectively and to ultimately replace state-specific company annual reports, state regulators developed the NMLS Mortgage Call Report to be completed by companies on behalf of their mortgage loan originators.

(Continued on page 2)
"Safeguarding Georgia's Financial Services"

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January 2011

NMLS Mortgage Call Report Coming Soon!
(Continued from page 1)
What you should do now: 1. Ensure your company record is up to date. Specifically, if you are an approved Fannie Mae or Freddie Mac
Seller/Servicer or Ginnie Mae Issuer this must accurately be reflected on your MU1 "Other Business" section. Likewise, if the "Other Business" section reflects that you are an approved Seller/Servicer or Issuer and that has changed, your record should be updated immediately. These criteria will determine which sections of the NMLS Mortgage Call Report your company will be required to complete. As a reminder, NMLS is a system of record for state licensure and any information submitted requires an attestation to its accuracy.
2. Review the information posted on the NMLS Mortgage Call Report section of the NMLS Resource Center and become familiar with the data that is required to be completed on a quarterly or annual basis. It is important to note that significant changes were made to the requirements of what information will be submitted based on public comments. Examples are provided to guide you through which information you will generally be required to submit.
3. Complete a very brief survey and sign up for future communications about the NMLS Mortgage Call Report as it becomes available: MCR Survey and Signup
The NMLS Mortgage Call Report is intended to be available in NMLS in April 2011 and the first report due will be for calendar Q1 2011 data.

Georgia Residential Mortgage Act Fee Reminder
The $10.00 per loan fees required by O.C.G.A. Section 7-1-1011(b)(2) and Department Rule 80-5-1-.04 are due no later than March 1, 2011, for residential mortgage loans closed during the period July 1, 2010, through December 31, 2010. A $10.00 fee will be due if the loan is a residential mortgage loan as defined in the Georgia Residential Mortgage Act ("GRMA"), and if a security deed, a modification of a security deed or other form of modification of a security interest is recorded.
Financial institutions, mortgage licensees and registrants that act as the collecting agent (including brokers who table fund and collect the fee) have been notified regarding the $10.00 fee payment and information regarding accessing the online fee payment and reporting system. This information is sent to the primary contact for the financial institution or mortgage licensee or registrant, according to the Department's records.
Remittance of the GRMA $10.00 Loan Fees and Report are required to be made on-line. Reporting is required even if no residential mortgage loans were made and no fees are due. With the on-line payment process, the Department accepts either ACH drafts on a checking account or payments by Visa, MasterCard, AmericanExpress, or DiscoverCard credit cards.
Reporting and fee payment must be done online from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html.

January 2011

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ADMINISTRATIVE ACTIONS

Cease and Desist Orders Which Became Final
Danny E. Davis, Dublin, GA (license# 24249) - Order to Cease and Desist issued 12/01/2010 became final 01/01/2011.

Superior Court Injunctions Issued
Surgent, Michael d/b/a Trinity Corporation, Marietta, GA - Cobb County Superior Court issued a Final Consent Order on 01/03/2011 which became final 01/03/2011.

License Denials

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Fine Information

January 2011

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 Advertising Violations

FINE REASON

LICENSEES/REGISTRANTS EXPIRED IN JANUARY 2011
Due to the large number of license expirations in January 2011, a separate PDF document is provided on the Department's website at: http://dbf.georgia.gov/vgn/images/portal/cit_1210/25/37/168094808ExpiredJan2011.pdf
A total of 479 licenses expired during the month.

January 2011

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January 2011

January 2011
Georgia Department of Banking and Finance
2990 Brandywine Road Suite 200
Atlanta, Georgia 30341-5565
Phone: (770) 986-1269 Fax: (770) 986-1029 or 1655
Email: dbfmort@dbf.state.ga.us
We're on the Web! dbf.georgia.gov

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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.