Monthly mortgage summary, May 2013

Monthly
Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
Monthly SumMmonathryly oSfumMmoarrtygaofgeMoArtcgtaigveitAiectsivfiotiresthfoer tPheerPioerdioEdnEdnidnigngMAapyril22001037

Inside this Issue:
Governor Deal 2 Signs HB 83
DBF 3 Recognizes 2012 Award
Winners
Administrative 4 Actions

No Approval Required for Out-Of-State Branches
No approval is required for branches located outside the State of Georgia. Please be reminded that failure to adequately supervise the operations of any out-of-state branch as it relates to residential mortgage transactions on Georgia property can result in the loss of your license.
Please DO NOT enter branches that are located in a state other than Georgia into the NMLSR in connection with your company's Georgia license. Out-of-state branches do not require the Department's approval and SHOULD NOT be entered into the NMLSR. Fees paid for out-of-state branches filed through the NMLSR are non-refundable.

Fine Information 4
Licenses 4 Revoked, Withdrawn or
Expired

As always, in-state branch offices require proper approval of both the branch office location and proposed branch manager.
A Word of Thanks

Licenses 6 Approved or
Reinstated
Customer 6 Service Star
Contact 7 Information

Commissioner Rob Braswell retired from the Department effective June 1, 2013, after 30 years of outstanding service to the people of the State of Georgia.
Having served in the Commissioner role since December 2005, he led the Department through what may have been its most challenging period, characterized by a banking industry stressed in ways not seen since the Great Depression, combined with a shrinking budget and staff reductions. Throughout, Commissioner Braswell led with the highest level of integrity; an infectiously positive attitude; and stewardship committed to fair, balanced, and professional engagement with all persons and entities licensed, chartered, and regulated by the Department.

Rob Braswell

Leadership of this caliber will not be easily replaced, but the values and standards instilled in the Department under Commissioner Braswell's tenure will continue to influence our day-today activities as we strive to carry-out the Department's mission. For that, and so much more, we express our gratitude and appreciation for a great leader and friend.

"Safeguarding Georgia's Financial Services"

Page 2

May 2013

Governor Deal Signs HB 83
During the 2013 legislative session, House Bill 83 (HB 83) was introduced and subsequently passed amending Article 13 of Chapter 1 of Title 7 of the Official Code of Georgia Annotated (the Georgia Residential Mortgage Act) relating to the licensing of mortgage lenders and mortgage brokers. The bill was signed by Governor Deal on May 6, 2013 and becomes effective on July 1, 2013.
Specifically, HB 83 amends Code Section 7-1-1001, relating to exemptions from licensing requirements, by revising paragraph (6) of subsection (a) to read as follows:
"6) A Georgia licensed real estate broker or real estate salesperson not actively engaged in the business of negotiating mortgage loans or a Georgia licensed real estate salesperson providing information to a lender or its agent related to an existing or potential short sale transaction in which a separate fee is not received by such real estate broker or real estate salesperson; however, a such real estate broker or real estate salesperson who directly or indirectly negotiates, places, or finds a mortgage for others shall not be exempt from the provisions of this article;"

NDFI Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be attending the Georgia Manufactured Housing Association's Annual Convention at Callaway Gardens on June 20th.

COMMONLY USED ACRONYMS
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

May 2013

Page 3

DBF Recognizes 2012 Award Winners
During meetings and other events held around the state in May, the Department recognized winners of its 2012 Employee Awards. This annual awards process formally recognizes outstanding employee performance during the previous calendar year. Award winners from the Non-Depository Financial Institutions Division include:
The "Jenny Neville" Customer Service Award was presented to Review Examiner Deborah Long. This award is presented to an individual who has made exceptional contributions that exceeded expectations in delivering services to external and/or internal customers. This individual has taken initiative in "going the extra mile" to provide service to internal and/or external customers with timely and appropriate follow-up, to be responsive to the needs of all customers, and to demonstrate improvement of customer service and satisfaction.

Janet Anderson
(Pictured with Commissioner Braswell)

Deborah Long
(Pictured with Commissioner Braswell)
The Community Service Award was presented to Supervisory Manager Janet Anderson. This individual through volunteerism or paid community service, must have exhibited dedication by improving the quality of life for members of the community and/or made program improvements. This may be an individual who has broadbased or community involvement, i.e. community or professional boards, service clubs, faith-based organizations, local and national charitable, legal or professional, or civic organizations.

Gold Medal Awards were presented to Non-Depository Financial Institution Division Attorneys Morgan Clemons and Heidi Dias. This award is given to individuals whose overall performance has consistently reflected a high level of service, trustworthiness, and respect; who have demonstrated a consistent commitment to delivering products, services and/or information that satisfies customers by exceeding their requirements or expectations; who work effectively as part of a team to successfully accomplish a task or meet a goal; who contribute to a group effort which has a significant impact on Department goals; and/or who accept responsibility and accountability in helping to advance the Department's mission, vision or goals.

Morgan Clemons and Heidi Dias -- Non-Depository Financial Institutions Division
(Pictured with Commissioner Braswell)

Page 4

May 2013

ADMINISTRATIVE ACTIONS
Cease and Desist Orders Which Became Final
Sanders, Terry L., Marietta, GA - Order to Cease and Desist issued 04/08/2013 became final 05/13/2013.

Fine Information

FINE REASON AND COUNT

31 Fines for Mortgage Call Report Filed Late in NMLS

1 Fine for Acquisition of 25% ownership w/o approval

OFFICE CLOSING
This is a reminder that the Department will be closed on Thursday, July 4th for the Independence Day holiday.

May 2013

Page 5

Page 6

May 2013

MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN MAY 2013
A total of 425 MLO licenses were approved during the month, including 11 reinstated licenses and 414 new license approvals.
Due to the large number of licenses approved in May 2013, a separate document is provided on the Department's website at: http://dbf.georgia.gov/documents/may-2013-mortgage-loan-originator-license-approvals

CUSTOMER SERVICE STAR
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 Betty Thomas The Department received comments from a customer stating: "Betty, Thank you so much for all of the help you have provided me on the licensing process in Georgia. It has been a tremendous help and made the licensing process go so smooth. I could not ask for any better expertise in the crazy world that is licensing and regulation."
CONGRATULATIONS AND GREAT JOB TO THIS MONTH'S CUSTOMER SERVICE STAR!!

May 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 7
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.