Monthly mortgage summary, Jan. 2014

Monthly
Mortgage Summary

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division
Monthly Summary of Mortgage Activities for the Period Ending January 2014

Inside this Issue:
Georgia 2 Residential Mortgage Act Fee
Reminder
NDFI Outreach and 2 Upcoming Speaking
Engagements
Licenses Approved 3 or Reinstated
License Denials 3
Fine Information 4
Licenses Revoked, 4 Expired or Withdrawn
2014 State 5 Holidays
Contact 6 Information

Mortgage Call Report Reminder
This is a reminder that the MCR for the fourth quarter (October 1 December 31, 2013) must be filed through the NMLSR by February 14, 2014, as required by O.C.G.A. Section 7-1-1004.1. Reporting is required even if no Georgia residential mortgage loans were made during the quarter.
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

"Safeguarding Georgia's Financial Services"

Page 2

January 2014

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, 2014, for mortgage loans closed during the period July 1, 2013, through December 31, 2013. A $10.00 fee will be due if the loan is a mortgage loan as defined in the Georgia Residential Mortgage Act ("GRMA"), and if the loan is secured by a deed to secure debt, security deed, mortgage, security instrument, deed of trust, a modification of a security deed, or other form or modification of a security interest which has been 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 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. Reporting and fee payment must be done online from our secure website at: https://bkgfin.dbf.state.ga.us/GRMAFee.html.
NDFI Outreach AND UPCOMING SPEAKING ENGAGEMENTS
Commissioner Hagler and Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will
be speaking at the Mortgage Bankers Association of Georgia Lobby Day on February 11th.
Director for Non-Depository Financial Institutions Felicia Faison-Holmes will be speaking at an Open
Meeting of the MBAG Compliance/QC Committee on February 13th at 9:30a.m.
Deputy Commissioner Carnes and Director for Non-Depository Financial Institutions Felicia Faison-Holmes
will be speaking at the 10th Annual GREFPAC Education Conference on March 5th at the Cobb Galleria Centre. Learn more about the event...

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

January 2014

Page 3

MORTGAGE BROKERS, PROCESSORS, LENDERS AND REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2014

MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN JANUARY 2014
A total of 340 MLO licenses were approved during the month, including 22 reinstated licenses and 318 new license approvals.
A separate document is provided on the Department's website for licenses approved in January 2014: http://dbf.georgia.gov/documents/january-2014-mortgage-loan-originator-license-approvals

Mortgage Loan Originator License Denials

Page 4
Fine Information

January 2014

FINE REASON AND COUNT

6 Fines for Continuing Education Data Filed Late 1 Fine for Prohibited Acts 1 Fine for Doing Business with an Unlicensed Entity

18 Fines for Renewal Filed Late 2 Fines for Advertising

MORTGAGE BROKER AND LENDER LICENSEES / REGISTRANTS REVOKED, WITHDRAWN OR SURRENDERED IN JANUARY 2014

January 2014

Page 5

MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, WITHDRAWN OR SURRENDERED IN JANUARY 2014
A total of 1,483 mortgage loan originators licenses were expired or withdrawn in January 2014.
Due to the large number of license expirations, a separate document is provided on the Department's website at: http://dbf.georgia.gov/documents/mortgage-loan-originators-closed-january-2014

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

Page 6
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

January 2014
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.