Monthly mortgage summary, Jan. 1, 2012

Monthly Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
NDFI Division 2 Management
Changes
Mortgage Call 3 Report Reminder
Administrative 3 Actions
Fine Information 4
Licenses Revoked, 4 Surrendered, Withdrawn or Expired
Licenses Approved 5 or Reinstated
2012 Licenses/ 8 Registrations Renewed
Customer Service 9 Stars
Contact Information 10

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.
DBF Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Braswell and Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking at the Mortgage Bankers Day at the Capitol on February 14th. Deputy Commissioner Carnes will also be speaking to the Mortgage Bankers Association of Savannah on February 21st in Savannah at Johnny Harris, and at the 8th Annual Georgia Real Estate Fraud Prevention and Awareness Coalition (GREFPAC) Conference on March 7th at the Cobb Galleria Centre, Atlanta.

"Safeguarding Georgia's Financial Services"

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January 2012

NDFI Division Management Changes

Director for Non-Depository Financial Institutions Sandra Sheley will retire effective February 29, 2012, after 30 years of faithful service to the State of Georgia.

Sandra Sheley

Sandra began her career with the Department of Banking and Finance in June of 1983 as an examiner in College Park where she gained considerable skill in examining banks and credit unions. In September 1993 Sandra was promoted to an Assistant Deputy Commissioner position (a position which is now titled Supervisory Manager) in the Department's main office. In her role as a supervisory manager, she provided indirect supervision of the Department's examination staff, regulated financial institutions and financial service providers. She also was a liaison between the Department and financial institution management, certified public accountants, financial consultants, trade associations and other regulators.

In 1997, Sandra was selected to fill a Supervisory Examiner position in the Northwest district office where she served until being promoted to Director for Mortgage Supervision in August 2003. As Director for Mortgage Supervision, Sandra was primarily responsible for administration and supervisory oversight of the mortgage examination process and the examination staff in order to meet statutory requirements and improve efficiency. In September 2010, her title was changed to Director for Non-Depository Financial Institutions, at which time she gained the added responsibility of supervising the Money Service Businesses examination and licensing staff.

Sandra is also a Certified Examination Manager. Congratulations Sandra! We wish you the best in your welldeserved retirement.

With the announcement of Sandra's retirement, Felicia Faison-Holmes was selected to fill the position of Director for Non-Depository Financial Institutions Division.
Felicia began her career with the Department in 2006 in the Legal and Consumer Affairs Division. In 2008, she transitioned to the Non-Depository Financial Institutions Division as its Attorney. Prior to joining the Department, she worked in the financial services industry and practiced commercial litigation with an international law firm.
Felicia attained a Bachelor of Science degree in marketing from Hampton University in Hampton, Virginia. She is also a graduate of Emory University in Atlanta, Georgia, where she earned the joint degrees of Juris Doctor and Master of Business Administration.
Congratulations Felicia!

Felicia Faison-Holmes

January 2012

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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.

ADMINISTRATIVE ACTIONS
Cease and Desist Orders Which Became Final
Budrys, Amy, Milledgeville, GA - Order to Cease and Desist issued 03/11/2011 became final 01/25/2012. Greer, Steven Anthony, Cochran, GA - Order to Cease and Desist issued 03/11/2011 became final 01/04/2012. Real Estate Acquisition & Development, LLC, Roswell, GA - Order to Cease and Desist issued 12/08/2011 became final 01/12/2012. Ruffolo, Anthony aka Ronnie Tony Ruffolo, Roswell, GA - Order to Cease and Desist issued 12/13/2011 became final 01/18/2012. Rumph, Cynthia, Snellville, GA - Order to Cease and Desist issued 06/11/2009 became final 01/06/2012. Sims, Jennifer Frady f/k/a Jennifer F. McKenzie, Milledgeville, GA - Order to Cease and Desist issued 03/11/2011 became final 01/04/2012. Your Approved Funding Corporation, New City, NY (license# 17437) - Order to Cease and Desist issued 12/30/2011 became final 01/30/2012.
Final Consent Orders
Budrys, Amy, Milledgeville, GA - Consent Order issued 01/25/2012 became final 01/25/2012. Crisp, Randy Joe, Suwanee, GA (license# 27363) - Consent Order issued 01/20/2012 became final 01/20/2012. Greer, Steven Anthony, Cochran, GA (license# 27128) - Consent Order issued 01/04/2012 became final 01/04/2012.

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January 2012

ADMINISTRATIVE ACTIONS

Final Consent Orders
PennyMac Corp., Calabasas, CA (license# 33028) - Consent Order issued 01/04/2012 became final 01/04/2012.
PennyMac Loan Services, LLC, Calabasas, CA (license# 33027) - Consent Order issued 01/04/2012 became final 01/04/2012.
Seal, Lucy E., Marietta, GA (license# 25706) - Consent Order issued 01/31/2012 became final 01/31/2012.
Sims, Jennifer Frady f/k/a Jennifer F. McKenzie, Milledgeville, GA (license# 24322) - Consent Order issued 01/04/2012 became final 01/04/2012.

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 AND COUNT

1 Fine for Prohibited Acts 3 Fines for Books and Records 2 Fines for Failure to Perform Background Checks 1 Fine for Doing Business w/ Unlicensed Entity

26 Fines for Continuing Education Data Filed Late 7 Fines for Renewal Filed Late 2 Fines for Miscellaneous Other

January 2012

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MORTGAGE LICENSES / REGISTRATIONS EXPIRED IN JANUARY 2012
A total of 973 licenses expired during the month. Due to the large number of license expirations in January 2012, a separate document is provided on the Department's website at: http://dbf.georgia.gov/vgn/images/portal/cit_1210/15/48/181279436ExpiredMortgageLicenses_Jan2012.xls

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January 2012

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January 2012

2012 LICENSES/REGISTRATIONS RENEWED
A current listing of Georgia mortgage licenses/registrations that were renewed for the 2012 licensing period can be found on our website from: http://dbf.georgia.gov/vgn/images/portal/cit_1210/50/58/1802254812012MBRenewals.xls
This file (in Microsoft Excel format) reflects renewal of licenses/registrations that were in an approved status prior to November 1, 2011.

January 2012

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CUSTOMER SERVICE STARS FOR THE MONTH OF JANUARY
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 and/or teams for going above and beyond in serving our customers:
Applications Analyst Irene Harper and Supervisory Manager Larry Shelley (Mortgage) The Department received comments from a customer stating: "I would like to let your department know that our company is licensed in 19 states and of all licensing departments that I work with, the Georgia DBF is the most efficient and helpful! Mrs. Irene Harper is always responsive and helpful. Mr. Larry Shelley is always helpful, courteous and extremely prompt with assistance. I absolutely enjoy working with your team and I wish other states would take notice and learn about customer service from you!"

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

January 2012
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.