Monthly mortgage summary, Dec. 2011

Monthly Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
Georgia Residential 2 Mortgage Act Fee Reminder
Administrative 2 Actions
Fine Information 3
Licenses Revoked, 4 Expired, Withdrawn
Licenses Approved 5 or Reinstated
License/ 10 Registration
Renewals
2012 State 11 Holidays
Customer Service 11 Stars
Contact Information 12

2012 License / Registration Renewal
The Annual License/Registration Renewal Period for 2012 has ended. A licensee/ registrant that has a complete renewal application (i.e., renewal application filed, and all fines and renewal fees paid) pending through the Nationwide Mortgage Licensing System and Registry ("NMLSR") as of December 31, 2011, can continue to work as a mortgage loan originator, mortgage broker or mortgage lender unless and until there is a surrender/withdrawal of the license/registration or a final order of revocation is issued by the Department of Banking and Finance ("Department").
If a mortgage license/registration was not renewed by December 31, 2011, it expired by operation of law effective January 1, 2012. Licensees/registrants that did not file for renewal before the December 31, 2011, must reapply through the NMLSR.
Mortgage Call Report Reminder
This is a reminder that the Mortgage Call Report ("MCR") required by O.C.G.A. Section 7-1-1004.1 is due within 45 days of the end of every calendar quarter. Fourth quarter data (October 1 December 31, 2011) must be filed through the NMLSR by February 14, 2012.
Companies that fail to file quarterly MCRs prior to the deadline will be assessed a fine and may subject their Georgia license to revocation. Any outstanding fines owed to the Department must be paid through its secure website at: https://bkgfin.dbf.state.ga.us/MortgageDocs/MtgFinePay.html.
For more information about the requirements surrounding the MCR, please refer to the NMLSR website at: http://mortgage.nationwidelicensingsystem.org/slr/common/mcr/Pages/default.aspx.

"Safeguarding Georgia's Financial Services"

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December 2011

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, 2012, for residential mortgage loans closed during the period July 1, 2011, through December 31, 2011. 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 that table fund and collect the fee) must submit the fees and file the fee statement before the deadline to avoid fines.
Per Department Rule 80-5-1-.04(b), GRMA per loan fee reporting / remittance must be completed online through the Department's secure website. Reporting is required even if no residential mortgage loans were made and no fees are due. To avoid fines for failure to report / remit GRMA fees, reporting must be completed by the deadline noted above.
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.

ADMINISTRATIVE ACTIONS
Cease and Desist Orders Which Became Final
Allied Home Mortgage Corporation, Houston, TX (license# 18011) - Order to Cease and Desist issued 11/15/2011 became final 12/18/2011.
Axis Financial Group, Inc., Strongsville, OH (license# 29679) - Order to Cease and Desist issued 11/14/2011 became final 12/14/2011.
BE Capital Lending, LLC, Marietta, GA - Order to Cease and Desist issued 10/31/2011 became final 12/01/2011.
First Access Mortgage Corp., Hammond, LA (license# 21847) - Order to Cease and Desist issued 11/28/2011 became final 12/26/2011.
Fortune Mortgage Company, Inc. dba Fortune Mortgage Group, Pittsburgh, PA - Order to Cease and Desist issued 10/31/2011 became final 12/07/2011.
Homeowners Assistance Corporation dba myloanmod.biz, Canton, GA - Order to Cease and Desist issued 10/31/2011 became final 12/07/2011.
Legal Debt Solutions, APC aka Habashy Law Firm dba www.stopbanks.com, Glendale, CA - Order to Cease and Desist issued 09/16/2011 became final 12/02/2011.

December 2011

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ADMINISTRATIVE ACTIONS
Cease and Desist Orders Which Became Final (continued)
Mision Latina, Inc., Canton, GA - Order to Cease and Desist issued 10/31/2011 became final 12/07/2011.
National African American Relationships Institute, Inc. (NAARI) dba NAARI Housing Counseling Agency, Tucker, GA - Order to Cease and Desist issued 11/07/2011 became final 12/21/2011.
Walter Capital Corporation, Thomasville, GA (license# 6754) - Order to Cease and Desist issued 11/14/2011 became final 12/13/2011.
Ward, Reneka Latrice, Fairburn, GA (license# 22971) - Order to Cease and Desist issued 11/14/2011 became final 12/14/2011.

Final Consent Orders
AmericaHomeKey, Inc., Dallas, TX (license# 23191) - Consent Order issued 12/27/2011 became final 12/27/2011.
Caughron, Frank, Dallas, TX - Consent Order issued 12/27/2011 became final 12/27/2011. Eaton, Lynn, Dallas, TX - Consent Order issued 12/27/2011 became final 12/27/2011. Terrell, Buddy Lee, Dallas, TX - Consent Order issued 12/27/2011 became final 12/27/2011. Terrell, Lane, Dallas, TX - Consent Order issued 12/27/2011 became final 12/27/2011.

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

FINE REASON

1 Licensee fined for Advertising 1 Licensee fined for Books and Records 1 Licensee fined for Failure to Report Violations/Discharges

50 Licensees fined for Continuing Education Data Filed Late 187 Licensees fined for Renewal Filed Late

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LICENSE/REGISTRATION RENEWALS
A current listing of Georgia mortgage licenses/registrations that have been renewed for the 2012 licensing period can be found on our website from: http://dbf.georgia.gov//vgn/images/portal/cit_1210/55/61/1802254812012MBRenewals.xls
This file (in Microsoft Excel format) reflects renewal of licenses/registrations that were in an approved status prior to November 1, 2011.

December 2011

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2012 State Holidays

In accordance with O.C.G.A. 1-4-1, Governor Nathan Deal proclaimed the following dates in 2012 as public and legal state holidays when the Capitol and all State agencies will be closed:

Holiday Name
New Years Day 2012
Martin Luther King Jr.'s Birthday Robert E. Lee's Birthday
Washington's Birthday
Confederate Memorial Day
Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day
Christmas Day

Date Observed
January 1st Sunday Was observed Monday, Jan 2nd January 16th Monday
January 19th Thursday Will be observed on Friday, November 23rd
February 20th - Monday Will be observed on Monday, December 24th
April 26th Thursday Will be observed on Monday, April 23rd
May 28th Monday
July 4th Wednesday
September 3rd Monday
October 8th Monday
November 12th Monday
November 22nd Thursday Lee's Birthday will be observed on Friday, November 23rd
December 25th Tuesday Washington's Birthday will be observed on Monday, Dec. 24th

CUSTOMER SERVICE STAR FOR THE MONTH OF DECEMBER
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 individual for going above and beyond in serving our customers:
Supervisory Manager Larry Shelley (Mortgage Licensing) The Department received comments from a customer stating: "I would like to send a special thank you to Larry Shelley for his superb customer service skills. He is such a great asset to your team!"
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STAR!!

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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

December 2011
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 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.

We're on the Web! dbf.georgia.gov

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This monthly publication highlights topics and activities pertaining to the Department's regulation of state-licensed or registered mortgage brokers, lenders and loan originators. It is delivered to interested parties via e-mail 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, send an e-mail to dbfpress@dbf.state.ga.us stating your name and e-mail address. Please be sure to include "Subscribe to Monthly Mortgage Summary" in the Subject line.