Monthly Mortgage Summary Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division Monthly Summary of Mortgage Activities for the Period Ending January 2015 Inside this Issue: Georgia 2 Residential Mortgage Act Fee Reporting and Payment Process Fine Information 3 Licenses Approved 3 or Reinstated Licenses Revoked, 4 Withdrawn or Expired Contact 5 Information Mortgage Call Report Reminder This is a reminder that the Mortgage Call Report ("MCR") required by O.C.G.A. 7-11004.1 is due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 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's Lobby Day at the State Capitol on February 10th. Director for Non-Depository Financial Institutions Felicia Faison-Holmes, Supervisory Manager Betty Thomas and Senior Mortgage Examiner Andy Reid will be speaking at the MBAG Compliance Committee Meeting on February 12th. "Safeguarding Georgia's Financial Services" Page 2 January 2015 Georgia Residential Mortgage Act Fee ("GRMA") Reporting and Payment Process The GRMA fee on-line reporting and payment process changed substantially effective January 2, 2015. Refer to the Department's website for a more detailed discussion of these changes at http://dbf.georgia.gov/changesgeorgia-residential-mortgage-act-10-loan-fee-reporting-and-payment-process In order to avoid late fees and fines, please note that GRMA fees collected for the semi-annual period from July 1, 2014 through December 31, 2014 must be remitted through the online payment site by March 2, 2015. Any filings after that date are considered late must be made by submitting the hardcopy fee statement form, along with the GRMA fees and any late fees due. 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 eliminated the requirement that a fee statement be filed even if no residential mortgage loans were closed during the semiannual reporting period. As a result, the online payment and reporting website no longer allows reporting of $0 loans. Collecting agents that did not close any loans during the semi-annual period do not need to file a hardcopy report with the Department. 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 that are not chartered or licensed by the Department. 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. Online Payment Options: The Department is 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 continues to offer ACH draft as a payment option at no cost to the remitter. IMPORTANT NOTE: Most of the Department's payment sites perform better using the Mozilla Firefox browser. If you use Internet Explorer, please ensure that you have version 7.0 or higher. Keep in mind that you may also need to refresh your browser and clear your browser's cache to ensure that you see the current, active page. January 2015 Fine Information FINE REASON AND COUNT 1 Fine for Continuing Education Data Filed Late 1 Fine for Change in Management 1 Fine for Advertising Page 3 MORTGAGE BROKERS, PROCESSORS, LENDERS AND REGISTRANTS APPROVED OR REINSTATED IN JANUARY 2015 GRMA# NMLS# 44122 1216138 44155 1201123 43914 1221113 44242 342900 44287 155675 44333 69551 44156 1145804 Total 7 CODE NAME L WLP 2014-1, LLC B Kaitlin Teresa Ponce B Cranbrook Loans Group, Inc. L Southern Lending Services, Ltd. B Atlantic Mortgage and Funding, Inc. L Prime Mortgage Lending, Inc. (NC) L Citi GSM Portfolio, LLC CITY Atlanta Atlanta Clinton Township Houston Virginia Beach Apex New York ORIGINAL ST APPROVAL GA 01/07/2015 GA 01/09/2015 MI 01/15/2015 TX 01/21/2015 VA 01/23/2015 NC 01/27/2015 NY 01/30/2015 REINSTATED MORTGAGE LOAN ORIGINATOR LICENSES APPROVED OR REINSTATED IN JANUARY 2015 A total of 320 MLO licenses were approved during the month, including 42 reinstated licenses and 278 new license approvals. A separate document is provided on the Department's website for licenses approved in January 2015: http://dbf.georgia.gov/documents/january-2015-mortgage-loan-originator-license-approvals 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 Page 4 January 2015 MORTGAGE BROKER AND LENDER LICENSEES/REGISTRANTS REVOKED, EXPIRED OR WITHDRAWN IN JANUARY 2015 GRMA# NMLS# CODE NAME 12465 4251 LD Mortgage Master, Inc. of Massachusetts 20231 162360 BD Pinnacle Loan Corporation 23976 171760 RD Morgan Stanley Smith Barney LLC 15056 3294 LD Mortgage Capital Associates, Inc. 21909 3324 LD Rate One, Inc. The Mortgage People 23099 6775 BD Cranbrook Mortgage Corporation 23403 13390 LD Royal United Mortgage, LLC 40497 16981 LD PrimeSource Mortgage, Inc. 12162 57962 LD 3RD Financial Service Corporation 42368 121455 LD The Northern Ohio Investment Company 23637 138600 BD Gary Hall Homes, Inc. 11799 140026 LD Empire Mortgage IX, Inc. 17010 144739 BD G Squared Financial, LLC 7064 164510 LD Capital City Mortgage Investments, Inc. 5886 166212 BD Multi Mortgage Corp. 17203 169812 LD Hallmark Funding, LLC 14761 170509 BD Cities Home Mortgage Corp. 31785 279226 LD Ocwen Financial Services, SRL LLC 38780 337840 BD Funds Available, Inc. 36658 999080 BD Campbell, Jeffrey Alan 40013 1020884 LD City Mortgage Corporation 40808 1151962 BD JEMAC MORTGAGE LLC 42885 1164455 BD Stephen D. Northington 24114 187025 BD Centennial Group of Georgia, Inc. 32143 449635 BD The Griddd, Inc. 42529 1087652 BD BNB & Associates LLC of Georgia Total 26 CITY ST Walpole MA Atlanta GA Purchase NY Los Angeles CA Memphis TN Clinton Township MI Indianapolis IN Oklahoma OK Akron OH SYLVANIA OH Valdosta GA Hunt Valley MD Marietta GA Woodstock GA Acworth GA Atlanta GA Alpharetta GA Montevideo Long Beach CA Marietta GA Downingtown PA MABLETON GA Dallas GA Columbus GA Atlanta GA Opelika AL REVOKED EXPIRED WITHDRAWN 01/02/2015 01/26/2015 01/02/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/01/2015 01/16/2015 01/16/2015 01/16/2015 23 3 MORTGAGE LOAN ORIGINATOR LICENSEES REVOKED, EXPIRED OR WITHDRAWN IN JANUARY 2015 A total of 1,209 MLO licenses were expired or withdrawn during the month. A separate document is provided on the Department's website: http://dbf.georgia.gov/documents/january-2015-mortgage-loan-originator-licensesclosed January 2015 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 5 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. 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