Monthly Mortgage Summary Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division Monthly SummaMroyntohflyMSuomrtmgaargyeofAMctoirvtgitaigeesAfcotirvitthiees fPoer rtihoedPEernioddinEgndNinogveApmribl e2r0027013 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Licenses Approved 3 or Reinstated License Denials 4 Administrative 4 Actions Fine Information 4 Licenses Revoked, 5 Withdrawn, Expired or Suspended 2014 State 8 Holidays Contact 9 Information 2014 License/Registration Renewals for Mortgage Lenders, Mortgage Brokers and Mortgage Loan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 Page 6 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!! Page 8 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.