Monthly mortgage summary, Nov. 2013

Monthly
Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
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Inside this Issue:
Department of 2 Banking and
Finance Adopts Final Rules
Licenses Approved 3 or Reinstated
License Denials 4
Administrative 4 Actions
Fine Information 4
Licenses Revoked, 5 Withdrawn, Expired
or Suspended
2014 State 8 Holidays
Contact 9 Information

2014 License/Registration Renewals for Mortgage Lenders, Mortgage Brokers and Mortgage Loan Originators

ALL BROKER, LENDER AND ORIGINATOR LICENSEES AND REGISTRANTS

Renewal Period Begins

November 1, 2013

Renewal Period Ends

December 1, 2013

Late Renewal Begins
Late Renewal Ends License and Registration Expiration

December 2, 2013 December 31, 2013
January 1, 2014

Originators: The late renewal fine is $100. Brokers and Lenders: The late renewal fine
is $300.
Expired licensees and registrants must reapply for licensure or registration to be reinstated.

GEORGIA EXPIRES ALL LICENSES AND REGISTRATIONS THAT HAVE NOT SUBMITTED A RENEWAL APPLICATION BY DECEMBER 31, 2013.
If any mortgage licensee/registrant has questions about the timelines in place for renewal applications, please send them to the Department by e-mail to renewal@dbf.state.ga.us.
(Continued on page 2)

COMMONLY USED ACRONYMS
CE -- Continuing Education Department -- Georgia Department of Banking and Finance GRMA -- Georgia Residential Mortgage Act MCR -- Mortgage Call Report MLO -- Mortgage Loan Originator NMLS or NMLSR -- Nationwide Mortgage Licensing System & Registry O.C.G.A. -- Official Code of Georgia Annotated
"Safeguarding Georgia's Financial Services"

Page 2

November 2013

2014 License/Registration Renewal Timeline for Mortgage Lenders, Mortgage Brokers and Mortgage Loan Originators
(Continued from page 1)
Department e-mails regarding renewal approvals have been sent to those licensees whose renewal applications were approved on or before November 30, 2013. If you have received a notification from NMLS that your renewal request has been approved, you can expect to receive an e-mail from the Department within (3) business days of the approval of your Georgia license renewal application. The email will include the link to retrieve and print your 2014 license/registration certificate. Please be advised that are website undergoes nightly maintenance every evening. If you receive an error message that our website is temporarily unavailable, please try again at a different time.

ADDITIONAL REMINDERS:
E-mail Addresses - Licensees must keep their e-mail addresses updated on the NMLS at all times -- MU1 filings for companies and MU4 filings for individuals. Essentially all communication from our Department is through e-mail. If your e-mail address is not correct in the NMLS, you may miss valuable information that could adversely affect your license. The Department is not responsible for any missed communications if your e-mail address is not correct or if you have set our e-mail addresses to go to junk/spam or trash.
Sponsorship MLOs without a sponsor will not be allowed to submit a renewal.
Deficiencies All licensees should make sure to clear any deficiencies that have been placed in NMLS for their license prior to renewal.

Department of Banking and Finance Adopts Final Rules
On November 7, 2013, the Department adopted Final Rules. The Rules were filed with the Secretary of State on November 7, 2013 and, pursuant to O.C.G.A. 50-13-6, became effective on November 27, 2013.
Prior to adopting the Rules, the proposed Rules along with a synopsis were distributed on October 4, 2013. The Department received six (6) written comments regarding the proposed Rules. The Department fully considered the comments it received but ultimately determined not to make any revisions. The Department believes that the Rules as adopted encourage safety and soundness, encourage safe and fair mortgage lending, and conform to the law.
To view or download the Final Rules, go to Regulations page on the Department's website (http:// dbf.georgia.gov/dbf-regulations) and select the appropriate link for the Final Rules, OR you may access them directly from: http://dbf.georgia.gov/sites/dbf.georgia.gov/files/related_files/document/DBFFinalRules11-72013.pdf

November 2013

Page 3

MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN NOVEMBER 2013
A total of 316 MLO licenses were approved during the month, including 16 reinstated licenses and 298 new license approvals.
Due to the large number of licenses approved in November 2013, a separate document is provided on the Department's website at: http://dbf.georgia.gov/documents/november-2013-mortgage-loan-originator-licenseapprovals

Page 4

Mortgage Loan Originator License Denials

NMLS# 70110 1044686 1073984 1091096 153257 937599 1041714
TOTAL: 7

NAME HOLLY LYNN BRAND Joshua Louis Cohen Adrian Zamudio Herrera Susan Elizabeth Thomas Andre Dwayne Jones Garry Joe Riddle Ometho Guan Ballard

CITY Laguna Beach Fishers Corona Troy Tacoma Savannah Buford

November 2013

ST

DENIED

CA 11/01/2013

IN 11/01/2013

CA 11/01/2013

MI 11/01/2013

WA 11/07/2013

GA 11/19/2013

GA 11/20/2013

ADMINISTRATIVE ACTIONS
Consent Orders Which Became Final
DeWitt Mortgage Services and Property Management, LLC, Savannah, GA (license# 22052) - Consent
Order issued 11/01/2013 became final 11/01/2013.
Mark Christopher DeWitt, Savannah, GA (license# 27102) - Consent Order issued 11/01/2013 became
final 11/01/2013.
Equity Loans, LLC, Atlanta, GA (license# 23300) - Consent Order issued 11/07/2013 became final
11/07/2013.
Kunjan R. Patel, Atlanta, GA - Consent Order issued 11/07/2013 became final 11/07/2013.
Eduardo Gutierrez Perez, Jr., Woodstock, GA (license# 24339) - Consent Order issued 11/07/2013
became final 11/07/2013.

Fine Information

FINE REASON AND COUNT

77 Fines for Continuing Education Data Filed Late 1 Fine for Background Check

25 Mortgage Call Report Filed Late in NMLS 1 Fine for Books and Records

November 2013

Page 5

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November 2013

November 2013

Page 7

DBF Holiday Hours
The offices of the Department of Banking and Finance will be closed on Tuesday, December 24th and Wednesday, December 25th in observance of State holidays. Our offices will also be closed on Wednesday, January 1st for New Year's Day.
The Department wishes you and your family a wonderful Holiday Season!!

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November 2013

2014 State Holidays

In accordance with O.C.G.A. 1-4-1, Governor Nathan Deal proclaimed the following dates in 2014 as public and legal state holidays when the Capitol and all State agencies will be closed:

Holiday Name New Year's Day 2014 Robert E. Lee's Birthday
Martin Luther King Jr.'s Birthday Washington's Birthday
Confederate Memorial Day
Memorial Day Independence Day Labor Day Columbus Day Veterans' Day Thanksgiving Day
Christmas Day

Date Observed Wednesday, January 1st Sunday, January 19th Will be observed on Friday, November 28th
Monday, January 20th
Monday, February 17th Will be observed on Friday, December 26th
Saturday, April 26th Will be observed on Monday, April 28th
Monday, May 26th
Friday, July 4th
Monday, September 1st
Monday, October 13th
Tuesday, November 11th
Thursday, November 27th Lee's Birthday will be observed on Friday, November 28th
Thursday, December 25th Washington's Birthday will be observed on Friday, December 26th

NDFI Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking at the GREFPAC Educational Meeting on December 4th in Atlanta, GA. Learn more...

November 2013
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

Page 9
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, internaonal banking organizaons, and bank holding companies
conducng business in Georgia.
Our MISSION is to promote safe, sound, compeve financial services in Georgia through innovave, responsive regulaon and supervision.
Our VISION is to be the best financial services industry regulator in the country Progressive. Proacve. Service-Oriented.

Sign-up to Receive this Publication
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.