Monthly mortgage summary, June 2011

Monthly Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
Administrative 2 Actions
License Denials 3
Licenses Revoked, 3 Expired, Withdrawn
Fine Information 4
Licenses Approved, 4 Renewed or Reinstated
Customer Service 7 Stars
Contact Information 8

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 September 1, 2011, for residential mortgage loans closed during the period January 1, 2011, through June 30, 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 who table fund and collect the fee) must submit the fees and file the fee statement before the deadline to avoid fines and possible administrative action.
GRMA per loan fee reporting / remittance must be completed on-line 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 on-line from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html.

Department Issues Proposed Rulemaking and Provides Opportunity to Comment
On June 28, 2011, 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, O.C.G.A. 7-1-663; O.C.G.A. 7-1-1012, and other cited statutes, the Georgia Department of Banking and Finance (Department) gave notice of its intent to adopt new and amended rules.
The proposed changes are in part responsive to law changes during the 2010 legislative session. Comments to the Department must be received by the close of business Thursday, July 28, 2011. You may view or download the Proposed Rules from our website on the Laws and Regulations page at (http://dbf.georgia.gov) or directly from: http://dbf.georgia.gov/vgn/images/ portal/cit_1210/3/20/172885609DBFProposedRules_6-28-2011.pdf
"Safeguarding Georgia's Financial Services"

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June 2011

ADMINISTRATIVE ACTIONS

Cease and Desist Orders Which Became Final
Access E-Mortgage, Inc., Saint Augustine, FL (license# 23646) - Order to Cease and Desist issued
05/26/2011 became final 06/30/2011.
DBD Results, LLC dba www.modificationsloan.com dba www.attorneysforeclosure.com,
Scottsdale, AZ - Order to Cease and Desist issued 05/09/2011 became final 06/13/2011.
Green Finance & Leasing, Inc., Woodstock, GA (license# 15699) - Order to Cease and Desist issued
05/26/2011 became final 06/30/2011.
Green Street Mortgage Lenders, Inc., Panama City Beach, FL (license# 24113) - Order to Cease and
Desist issued 06/08/2011 became final 06/29/2011.
Independent Mortgage Processing Inc, Hiram, GA (license# 24186) - Order to Cease and Desist issued
05/12/2011 became final 06/12/2011.
Real Estate Partners 100 of Pinellas dba Mortgage Resource Partners, Clearwater, FL (license#
24019) - Order to Cease and Desist issued 05/11/2011 became final 06/11/2011.
Sawyer, Jeffrey W. dba Southeastern Service Co., Macon, GA (license# 6295) - Order to Cease and
Desist issued 05/26/2011 became final 06/30/2011.
Sheridan, Jillian, Corryton, TN - Order to Cease and Desist issued 05/13/2011 became final 06/03/2011.

Final Consent Orders
G Squared Financial, LLC, Marietta, GA (license# 17010) - Consent Order issued 06/29/2011 became
final 06/29/2011.
Gabbai, Ron, Marietta, GA - Consent Order issued 06/29/2011 became final 06/29/2011.
Graiser, Ira, Marietta, GA - Consent Order issued 06/29/2011 became final 06/29/2011.
Kee, Ken, Doraville, GA - Consent Order issued 06/29/2011 became final 06/29/2011.
Maxim Capital, Inc. dba Maxim Home Loan, Doraville, GA (license# 12317) - Consent Order issued
06/29/2011 became final 06/29/2011.

June 2011
License Denials

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Fine Information

June 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

FINE REASON

3 Licensees fined for Prohibited Acts 2 Licensees fined for Books and Records 2 Licensees fined for Unapproved Branches 1 Licensee fined for Acquisition of 25% ownership w/o approval 1 Licensee fined for Failure to report violations/discharges 2 Licensees fined for Doing business w/ unlicensed entity

3 Licensees fined for Advertising 2 Licensees fined for Failure to Perform Background Checks 2 Licensees fined for Change in Management 1 Licensee fined for Employee under C&D or revocation 2 Licensees fined for Unapproved Branch Manager

June 2011

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June 2011

June 2011

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CUSTOMER SERVICE STAR FOR THE MONTH OF JUNE
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:
Applications Analyst Irene Harper The Department received comments from a customer stating: "I just wanted to let you know how wonderful it is to work with Ms. Irene Harper. Our company is licensed in over 20 states and she makes it very easy to work with the Georgia Department of Banking and Finance. She is very helpful, patient, kind and knowledgeable. I just want to say kudos to you Ms. Harper, you are awesome, the state of Georgia is lucky to have you!"
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STARS!!

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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

June 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 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.

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.