Monthly Mortgage Summary - Georgia

Monthly

Mortgage

Summary

Georgia Department of Banking & Finan ce ~ Non -Depository Financ ial I nstit utio ns Division

Monthly Summary of Mortgage Activities for the Period Ending May 2015

Inside this Issue:

Department Issues Proposed Rulemaking and Provides

Opportunity to Comment

Georgia

Residential

Mortgage Act Fee

Semi-Annual

Reporting and

Payment Process

2

Administrative

Actions

2

Comments to the Department of Banking and Finance must be received by the close of

business on Friday, June 12, 2015.

Fine Summary

Information

2

The Proposed Rules may be viewed or downloaded from the Department¡¯s website at:



DBFProposedRules_5-12-2015.pdf.

Mortgage

Company and

Individual License

Activity During the

Month

3

NDFI Outreaching

and Upcoming

Speaking

Engagements

4

On May 12, 2015, pursuant to the provisions of the Georgia Administrative Procedure

Act, O.C.G.A. ¡ì 50-13-1 et seq., and by the authority of O.C.G.A. ¡ì¡ì 7-1-61, 7-1-1012,

7-9-13 and other cited statutes, the Department of Banking and Finance (¡°Department¡±)

gave notice of its intent to adopt new rules.

Non-Georgia Branches

Appendix A - Mortgage

Loan Originator Activity

by License Status

No approval is required for branches located outside the State of Georgia, but please

remember 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

as a branch for Georgia. Fees paid for out-of-state branches filed through the

NMLSR are non-refundable.

As always, in-state branch offices require proper approval of both the branch office

location and proposed branch manager.

HOLIDAY OBSERVANCE¡ªOFFICE CLOSING

This is a reminder that the Department will be closed on Friday, July 3rd

for the Independence Day holiday.

Page 2

May 2015

Georgia Residential Mortgage Act Fee (¡°GRMA¡±) Semi-Annual 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 .

To avoid fines for failure to remit GRMA fees when due, reporting and payment must be completed online at

by the deadlines established in Rule 80-5-1-.04. Please be

reminded that zero reporting is no longer required. Fees collected for the period January 1 through June 30,

2015, should be remitted to the Department through the online reporting and payment site no later than the first

business day of September. For the current GRMA semi-annual period, any filings made after September 1,

2015, are considered late and must be made by submitting the hardcopy fee statement form, along with the

GRMA fees and any late fees due.

Prior to June 30, 2015, the Department will send an e-mail notification to the contact person that submitted the

prior semi-annual report through the Department¡¯s online reporting and payment site. For state-chartered

institutions and Georgia mortgage licensees, the Department will also send a similar notification to the primary

institution/licensee contact.

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 10 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.

Administrative Actions

Final Cease and Desist Orders:

? Muller Real Estate Holdings, LLC, Miami, FL - Order to Cease and Desist issued 04/09/2015 became

final 05/11/2015.

Fine Summary Information

FINE REASON

COUNT

Mortgage Call Report Filed Late in NMLS

53

Grand Total

53

COMMONLY USED ACRONYMS

CE ¡ª Continuing Education

Department ¡ª Georgia Department of Banking & Finance

GRMA ¡ª Georgia Residential Mortgage Act

MCR ¡ª Mortgage Call Report

MLO ¡ª Mortgage Loan Originator

NMLS or NMLSR ¡ª Nationwide Mortgage Licensing

System & Registry

O.C.G.A. ¡ª Official Code of Georgia Annotated

May 2015

Page 3

Mortgage Company License/Registration Activity During the Month

*

* AmeriNational Community Services, Inc.'s forced name in Georgia for Georgia is ACS Community Services, Inc.

Mortgage Loan Originator License Activity During the Month

Please refer to Appendix A of this newsletter for a listing of MLO activity by license status for the month of May

2015.

Page 4

May 2015

License Status Definitions

License Status

Definition

Approved

The entity has an Approved license.

Denied

The entity applied for a license and the request was Denied.

Revoked

The entity¡¯s license was Revoked and the entity is no longer authorized to conduct

business.

Terminated ¨C Expired

The entity failed to renew. Alternatively, this license status is also used for MLOs

that were suspended by administrative action for failing to meet Georgia¡¯s

sponsorship requirement.

Terminated ¨C Ordered to Surrender

An entity has been ordered to surrender their approved license. The entity is not

authorized to conduct business.

Terminated ¨C Surrendered/Cancelled

The entity has requested a surrender/cancelation of their license and the regulator

has granted this surrender/ cancelation request.

NDFI Outreach

AND UPCOMING SPEAKING ENGAGEMENTS

?

Deputy Commissioner for Non-Depository Financial Institutions Rod Carnes will be speaking at the Georgia

Manufactured Housing Association¡¯s Annual Convention being held at Jekyll Island, GA on June 9th and

10th. Learn more or register for the event

May 2015

Page 5

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

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 ¨C

Progressive. Proactive. Service-Oriented.

We¡¯re on the Web!

dbf.

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:

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.

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