Monthly Mortgage Summary Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division Monthly Summary of Mortgage Activities for the Period Ending December 2014 Inside this Issue: Georgia 2 Residential Mortgage Act Fee Reporting and Payment Process Mortgage Call 3 Report Reminder Department of 3 Banking and Finance Adopts Final Rules Administrative 3 Actions Fine Information 4 Licenses Approved 4 or Reinstated Licenses Revoked, 5 Withdrawn, Expired or Surrendered 2015 State 6 Holidays Contact 7 Information 2015 License/Registration Renewal Period Has Ended The Annual License/Registration Renewal Period for 2015 has ended. A licensee/ registrant that has a complete renewal application (i.e., renewal application filed, and all fines and renewal fees paid) pending through the Nationwide Mortgage Licensing System as of December 31, 2014, can continue to work as a mortgage loan originator, mortgage broker or mortgage lender unless and until there is a surrender/withdrawal of the license/registration or a final order of denial or revocation is issued by the Department. If a mortgage licensee/registrant did not file an application for renewal by December 31, 2014, the license/registration expired by operation of law effective January 1, 2015, and the licensee/registrant must reapply through the NMLS. Broker and Lender licensees in an expired status may not conduct Georgia mortgage activity. Mortgage Loan Originators in an expired status may not conduct origination activity for Georgia loans. RENEWAL REQUEST PENDING -- COMPANIES AND INDIVIDUALS -- Does your license have a renewal request pending? If so, please check your NMLS record for any deficiencies or license items placed by the Department. No renewal request will be approved with outstanding license items. Many licensees that have not yet been approved owe fines and fees check your NMLS record to see if your renewal is being delayed due to unpaid fines and fees. Fines and fees must be paid through the NMLS Agency Fee Invoice Please see the following links for information on how to pay the Agency Fee Invoice in NMLS. For an Individual: http://mortgage.nationwidelicensingsystem.org/licensees/resources/ LicenseeResources/Paying%20an%20Invoice_I.pdf For a Company: http://mortgage.nationwidelicensingsystem.org/licensees/resources/ LicenseeResources/Paying%20an%20Invoice_C.pdf "Safeguarding Georgia's Financial Services" Page 2 December 2014 Georgia Residential Mortgage Act Fee ("GRMA") Reporting and Payment Process The GRMA fee on-line reporting and payment process has changed substantially with the semiannual reporting period that opens on January 2, 2015 (for GRMA fees collected from July 1, 2014 through December 31, 2014). Refer to the Department's website for a more detailed discussion of these changes at http://dbf.georgia.gov/ changes-georgia-residential-mortgage-act-10-loan-fee-reporting-and-payment-process The most significant changes to the GRMA semiannual reporting and payment process are as follows: Elimination of "$0 GRMA fee statement reporting": Revisions to Department Rules 80-5-1-.04 and 80-11-3.01(13) eliminate the requirement that a fee statement be filed even if no residential mortgage loans were closed during the semiannual reporting period. Changes to the Online GRMA Reporting and Payment Process: The online GRMA per Loan Fee Reporting and Payment Process has been modified as follows: The payment site at https://bkgfin.dbf.state.ga.us/GRMAFee.html no longer requires a Login ID and password. Separate reporting and payment processes have been created for Georgia state-chartered banks and credit unions, Georgia state-licensed or registered mortgage companies and all other entities reporting. GRMA Late Fees/Fines: Rule changes were made to clarify that the remittance of any $10.00 fees after the date on which they are due shall subject the collecting agent to a late payment fee of $100 for each due date missed. In addition, if the Department finds that the collecting agent has not submitted GRMA fees within six months of the due date, the collecting agent will be subject to an additional fine of 20% of the total amount of $10.00 fees required to be collected for the applicable period. Payments made by Credit or Debit Card: The Department is now using Official Payments Corporation as its credit card service provider for the payment of fees due the Department. Official Payments Corporation charges a nominal convenience fee based on the amount of the transaction. The convenience fee is 2.50% of the payment amount, with a minimum service fee of $1.00 per payment transaction. NOTE: The Department will continue to offer ACH draft as a payment option at no cost to the remitter. COMMONLY USED ACRONYMS CE -- Continuing Education Department -- Ga. 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 December 2014 Page 3 Mortgage Call Report Reminder This is a reminder that the Mortgage Call Report ("MCR") required by O.C.G.A. 7-1-1004.1 is due within 45 days of the end of every calendar quarter. Fourth quarter data (October 1 December 31, 2014) must be filed through the NMLSR by February 14, 2015. Companies that fail to file quarterly MCRs prior to the deadline will be assessed a fine and may subject their Georgia license to revocation. Failure to file a timely MCR will also delay the processing of your renewal application. 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 Department of Banking and Finance Adopts Final Rules On December 5, 2014, the Department of Banking and Finance (Department) adopted Final Rules and filed the Rules with the Secretary of State's Office. Pursuant to O.C.G.A. 50-13-6, the Rules were effective on December 26, 2014, which is twenty days following the filing of the Rules with the Secretary of State. Prior to adopting the Rules, the proposed Rules along with a synopsis were distributed on November 3, 2014. The Department received one written comment regarding the proposed Rules. 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 the 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/DBFFinalRules_12-52014.pdf ADMINISTRATIVE ACTIONS Consent Orders Which Became Final Linda W. Womac, Athens, TN (license# 13147) - Consent Order issued 12/08/2014 became final 12/08/2014. Joshua E. Hankins, Charlotte, NC (license# 26820) - Consent Order issued 12/19/2014 became final 12/19/2014. Cease and Desist Orders Which Became Final Community Legal Center, Doraville, GA - Order to Cease and Desist issued 09/30/2014 became final 12/19/2014. Mortgage Loan Originator License Denials NMLS# 247583 263318 NAME Diane Hook Mark Rock CITY Aurora Scottsdale ST DENIED CO 12/18/2014 AZ 12/18/2014 Page 4 Fine Information December 2014 FINE REASON AND COUNT 179 Fines for Continuing Education Data Filed Late 1 Fine for Acquisition of 10% Ownership without Approval 1 Fine for Background Checks 448 Fines for License Renewal Filed Late 2 Fines for Advertising 1 Fine for Books & Records MORTGAGE BROKERS, PROCESSORS, LENDERS AND REGISTRANTS APPROVED OR REINSTATED IN DECEMBER 2014 GRMA# NMLS# CODE NAME 22732 75597 L N P, Inc. (FL) * 37123 1040622 L Bridgeway Financial, LLC. * 16665 146978 L First Chance Mortgage, Inc. * 14871 153097 B Harbor Mortgage Services, Inc. + 44081 1246307 B Stacie Jones 43672 1220252 L RWT Financial, LLC 44218 1213808 L LCB Mortgage Services, LLC 43986 298444 B Whitman Metropolitan, Inc. 44107 2107 L Seacoast Mortgage Corporation 44052 2314 L Resolution Capital, L.P. 43942 1225539 L ProFund Mortgage LLC Total 11 ORIGINAL UPGRADE / CITY ST APPROVAL REINSTATED DOWNGRADE Boca Raton FL 09/07/2007 12/10/2014 Duluth GA 04/19/2013 12/15/2014 Loganville GA 08/03/2001 12/16/2014 Cumming GA 07/16/1999 12/17/2014 Waycross GA 12/09/2014 Mill Valley CA 12/10/2014 Fayetteville GA 12/11/2014 Sacramento CA 12/17/2014 PAWTUCKET RI 12/17/2014 Dallas TX 12/24/2014 Atlanta GA 12/24/2014 MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN DECEMBER 2014 A total of 248 MLO licenses were approved during the month, including 21 reinstated licenses and 227 new license approvals. A separate document is provided on the Department's website for licenses approved in December 2014: http://dbf.georgia.gov/documents/december-2014-mortgage-loan-originator-license-approvals December 2014 Page 5 MORTGAGE BROKER AND LENDER LICENSEES/REGISTRANTS REVOKED, WITHDRAWN OR SURRENDERED IN DECEMBER 2014 GRMA# NMLS# CODE NAME 13147 161894 BD Linda W. Womac 38926 296093 LD Retreat Capital Management, Inc 32649 791179 LD LCB Mortgage Services, LLC 40770 34683 LD TrueCompass Lending Corporation 28396 187770 LD Cayuga Lending, LLC 40746 1139164 LD SG Capital Partners Incorporated 39242 945390 LD Loan Resolution Corporation Total 7 CITY ST REVOKED WITHDRAWN SURRENDERED Athens TN 12/11/2014 Irving TX 12/01/2014 Fayetteville GA 12/11/2014 Tualatin OR 12/18/2014 New York NY 12/23/2014 Stamford CT 12/23/2014 Tigard OR 12/31/2014 6 1 MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, SURRENDERED OR WITHDRAWN IN DECEMBER 2014 GRMA# NMLS# CODE NAME 39146 129633 OD Clark Kha Nguyen 33589 838386 OD Thomas R. Looze 38405 1072184 OD Dylan T. Wood 40195 1080316 OD Chandra Hope Heartland 43489 1058958 OD Christina Ann Priddy 36897 399477 OD Collene Renay Harris 41650 938962 OD Rafael Lee Valenzuela 41769 1117121 OD Douglas Matthew Ammerman 30809 373595 OD Andre Pacheco 26738 12706 OD Marie Theresa Drass 31691 188068 OD Robert Bruce Van Wagner 32627 413254 OD Samuel Edwin Thompson 42893 948633 OD Darcie Lee Hampton 33297 186873 OD Jonathan Samuel 41902 544562 OD Jill Elmgren 37476 267427 OD Luis Raul Padilla 36736 1000915 OD Blake Emanuel Smith 41643 1086792 OD Marjorie Irene Parks 39791 1108494 OD Danielle Marie Thomas 40836 44945 OD Brian James Pierce, Jr. 30572 70701 OD Gregg Dewayne Longworth 41891 398666 OD Poonkuzhali Vallinayagam 41868 939031 OD Scott Kenneth Mulford 35869 976618 OD Charles Francis Fitzsimmons, IV 43329 1193746 OD Sean Kyle O'Connor 35540 936851 OD Gemini A. Walker 37360 1002512 OD Teresa Marie De La Rosa 41208 24791 OD Andrew Christopher Borges 26243 88362 OD Matthew James Gourley 42669 448377 OD Michael David Rose 37133 959742 OD Gregory Lawrence Hilt 26680 174569 OD Stevie Lynne Weaver 42007 899148 OD Alejandro Valdez CITY Decatur Roselle Charlotte Columbia Cumming Allen Glendale Maybee Brea Richland Englewood Waleska Draper Riverview Savannah Guaynabo Bowie Scottsdale Jefferson City Penryn Newton Cerritos Saint Augustine Silver Spring Catonsville Richmond Hill Seminole Cranston Des Moines Atlanta Macungie Cottonwood Heights North Royalton ST REVOKED WITHDRAWN SURRENDERED GA 12/03/2014 IL 12/03/2014 NC 12/03/2014 MO 12/03/2014 GA 12/04/2014 TX 12/05/2014 AZ 12/05/2014 MI 12/05/2014 CA 12/08/2014 WA 12/09/2014 TN 12/09/2014 GA 12/09/2014 UT 12/09/2014 FL 12/10/2014 GA 12/10/2014 PR 12/11/2014 MD 12/16/2014 AZ 12/16/2014 MO 12/16/2014 CA 12/18/2014 NC 12/18/2014 CA 12/18/2014 FL 12/18/2014 MD 12/18/2014 MD 12/18/2014 GA 12/22/2014 FL 12/22/2014 RI 12/24/2014 IA 12/24/2014 GA 12/24/2014 PA 12/24/2014 UT 12/30/2014 OH 12/30/2014 Page 6 December 2014 MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, SURRENDERED OR WITHDRAWN IN DECEMBER 2014 GRMA# NMLS# CODE NAME 27305 9325 OD Gerald Lamar Glover 35740 28091 OD Zoran Bogojevski 31562 265463 OD Ronald James Price 31700 390124 OD Brandon George Wilhelmy 42230 1185438 OD Kevin William McCann 26820 44813 OD Joshua E. Hankins Total 39 CITY Jacksonville Macomb Atlantic Beach Ponte Vedra Columbia Charlotte ST REVOKED WITHDRAWN SURRENDERED FL 12/31/2014 MI 12/31/2014 FL 12/31/2014 FL 12/31/2014 MD 12/31/2014 NC 12/19/2014 38 1 2015 State Holidays In accordance with O.C.G.A. 1-4-1, Governor Nathan Deal proclaimed the following dates in 2015 as public and legal state holidays when the Capitol and all State agencies will be closed: Holiday Name New Year's Day 2015 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 Thursday, January 1st Monday, January 19th Will be observed on Friday, November 27th Monday, January 19th Monday, February 16th Will be observed on Thursday, December 24th Sunday, April 26th Will be observed on Monday, April 27th Monday, May 25th Saturday, July 4th Will be observed on Friday, July 3rd Monday, September 7th Monday, October 12th Wednesday, November 11th Thursday, November 26th Lee's Birthday will be observed on Friday, November 27th Friday, December 25th Washington's Birthday will be observed on Thursday, December 24th December 2014 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 Georgia statechartered banks, state-chartered credit unions, and state-chartered trust companies. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia. In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sellersissuers of payment instruments, money transmitters, 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. 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.