Monthly mortgage summary, Mar. 2014

Monthly Mortgage Summary

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

Inside this Issue:
Fingerprint 2 Background Checks Process
Change
Licenses Approved 3 or Reinstated
Administrative 4 Actions
License Denials 5
Fine Information 5
Licenses Revoked, 5 Expired,
Withdrawn or Suspended
Contact 10 Information

Mortgage Call Report Reminder
This is a reminder that the Mortgage Call Report required by O.C.G.A. Section 7-11004.1 is due within 45 days of the end of every calendar quarter. First quarter data (January 1 March 31, 2014) must be filed through the NMLSR by May 15, 2014.
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/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.

Quarters

Time Period

MCR Deadline

Quarterly Due Dates for the Residential Mortgage Loan Activity (RMLA) component of the MCR (Due within 45 days of the end of every calendar quarter):

Q1

(January 1 March 31)

May 15

Q2

(April 1 June 30)

August 14

Q3

(July 1 September 30)

November 14

Q4

(October 1 December 31)

February 14

"Safeguarding Georgia's Financial Services"

Page 2

March 2014

Fingerprint Background Checks Process Change
The Department reviews criminal background checks on all owners of 10% or greater and other control persons of Georgia mortgage broker or lenders prior to approval of a new application or change request. Fingerprint background checks are required outside of NMLS for those individuals that do not currently have a Georgia mortgage loan originator license in a pending or approved status. Individuals that reside in Georgia are required to have their fingerprint background checks processed at a GAPS location but must first contact the Department to be registered to do so.
For out-of-state individuals, the Department will no longer process fingerprint cards in-house; rather, out-of-state individuals will be required to submit fingerprint cards directly to 3M Cogent.
Please note that the Department has updated its website and NMLS checklists. Current instructions regarding fingerprinting can be found at http://dbf.georgia.gov/mortgage-broker-and-lender-forms-applications#GAPS

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

March 2014

Page 3

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

Page 4

March 2014

MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN MARCH 2014
A total of 361 MLO licenses were approved during the month, including 33 reinstated licenses and 328 new license approvals.
A separate document is provided on the Department's website for licenses approved in March 2014: http://dbf.georgia.gov/documents/march-2014-mortgage-loan-originator-license-approvals

ADMINISTRATIVE ACTIONS
Consent Orders Which Became Final
Burke, Hugh, Milledgeville, GA (license# 29422) - Consent Order issued 03/18/2014 became final
03/18/2014.
Haupt III, Reginald "Cal", Lawrenceville, GA - Consent Order issued 03/06/2014 became final 03/06/2014. Ocwen Loan Servicing, LLC, West Palm Beach, FL (license# 19438) - Consent Order issued 02/26/2014
became final 02/26/2014.
Ranch Park Homes, Inc., Milledgeville, GA (license# 7393) - Consent Order issued 03/18/2014 became final
03/18/2014.
Shell, Janice Diane, Lawrenceville, GA - Consent Order issued 03/06/2014 became final 03/06/2014. Southeast Mortgage of Georgia, Inc., Lawrenceville, GA (license# 6578) - Consent Order issued 03/06/2014
became final 03/06/2014.
Straka, Beverly, Lawrenceville, GA - Consent Order issued 03/06/2014 became final 03/06/2014.
Cease and Desist Orders Which Became Final
Burke, Hugh E., Milledgeville, GA - Order to Cease and Desist issued 10/31/2013 became final 03/18/2014. Beckett, Susan Darlene, Sylva, NE - Order to Cease and Desist issued 02/05/2014 became final 03/10/2014. Myers, William Ray, Lawrenceville, GA - Order to Cease and Desist issued 02/05/2014 became final
03/10/2014.
Owens, Jeremy S., Lawrenceville, GA - Order to Cease and Desist issued 02/05/2014 became final
03/10/2014.

March 2014
Mortgage Loan Originator License Denials

Page 5

Fine Information

60 Fines for GRMA Fees Not Paid

FINE REASON AND COUNT 2 Fines for Advertising

MORTGAGE BROKER AND LENDER LICENSEES / REGISTRANTS REVOKED, EXPIRED OR WITHDRAWN IN MARCH 2014

OFFICE CLOSING
This is a reminder that the Department will be closed on Monday, April 28th for Confederate Memorial Day.

Page 6

March 2014

MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, EXPIRED, WITHDRAWN OR SUSPENDED IN MARCH 2014

March 2014

Page 7

MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, EXPIRED, WITHDRAWN OR SUSPENDED IN MARCH 2014

Page 8

March 2014

MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, EXPIRED, WITHDRAWN OR SUSPENDED IN MARCH 2014

March 2014

Page 9

MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, EXPIRED, WITHDRAWN OR SUSPENDED IN MARCH 2014

Page 10
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

March 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, 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.

We're on the Web! dbf.georgia.gov

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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.