Inside this Issue: Governor Deal Signs House Bill 143

Georgia Department of Banking & Finance ~ Non-Depository Financial Institutions Division

Monthly Summary of Mortgage Activities for the Period Ending May 2017

Inside this Issue:

NMLS Electronic 2 Surety Bonds

Administrative 3 Actions

Fine Summary 3 Information

NDFI Outreach 3 and Upcoming

Speaking Engagements

Appendices: Mortgage Company

Activity by License Status

Mortgage Loan

Originator Activity by License Status

Governor Deal Signs House Bill 143

On May 1, 2017, Governor Deal signed House Bill 143 into law, and a majority of the provisions went into effect on June 1, 2017. The bill was introduced by Representative Bruce Williamson at the request of the Department of Banking and Finance (Department) and sponsored in the Senate by Senator John Kennedy. The bill revises statutory provisions governing most of the entities regulated by the Department ? banks, credit unions, trust companies, bank holding companies, money service businesses, and mortgage lenders and brokers ? as well as certain provisions addressing the Department's general powers.

Among other items, the bill increases the minimum bond coverage to: a) $150,000.00 for a licensed or registered mortgage broker and b) $250,000.00 for a licensed or registered mortgage lender. The increase of the minimum bond coverage will go into effect on December 31, 2017 ? the only provision in the bill to not be effective on June 1, 2017. Further, the bill clarifies the Department's ability to receive bond filings and cancellations electronically through the Nationwide Multistate Licensing System and Registry (NMLS).

House Bill 143 can be viewed at: related_files/document/HB%20143%202017.pdf. The Department strongly encourages every regulated entity to review the bill to ensure a thorough understanding of all the applicable revisions. The Department issued proposed rulemaking on May 25, 2017, to, among other items, implement some of the statutory changes contained in House Bill 143. Refer to the article below for details about the proposed rules.

Notice of Proposed Rulemaking and Opportunity to Comment

On May 25, 2017, pursuant to the provisions of the Georgia Administrative Procedure Act, O.C.G.A. ? 50-13-1 et seq., and by the authority of O.C.G.A. ?? 7-1-61, 7-1-1012, 79-13 and other cited statutes, the Department of Banking and Finance gave notice of its intent to adopt new rules.

Comments to the Department of Banking and Finance must be received by the close of business on Monday, June 26, 2017.

To read the proposed rules or to learn where to submit comments, go to the following URL on the Department's website: 2017 DBF Proposed Rulemaking 5-25-17

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May 2017

NMLS Electronic Surety Bonds

All new mortgage company applicants must utilize the The bond number on the ESB should be the same

Electronic Surety Bonds (ESB) feature through the

as the number that appears on the original bond

NMLS to meet Georgia's surety bond requirements. form that was submitted in hard copy. The amount

For existing licensees, the conversion of paper bonds of the ESB must represent the current bond obligation,

to an electronic surety bond must be completed no later including all riders issued since the original date of the

than December 31, 2017.

bond.

Please refer to the ESB for Licensees resources on NMLS found at: ESBforNMLSLicensees.aspx.

Bonds for Existing Company Licensees Must be Marked "Converted"

When creating an ESB through NMLS, the surety entity has the option of choosing a new or a converted bond. Before delivering an ESB to the Department, existing licensees should ensure that the surety entity submits a converted ESB through NMLS. If the licensee finds that the bond is not a converted bond, the company user should use the Return to Surety functionality to return the bond to the surety entity prior to delivery to the Department.

Implementation of Law Changes in House Bill 143

As noted on Page 1 of this publication, House Bill 143 increases the minimum bond coverage to $150,000 for a licensed or registered mortgage broker and $250,000 for a licensed or registered mortgage lender. The increase in minimum bond coverage for brokers and lenders will be enforced on December 31, 2017, which coincides with the deadline to convert company surety bonds to an electronic format through NMLS.

All licensed and registered mortgage brokers and lenders must have converted their paper bonds AND provided an electronic surety bond rider through the NMLS by December 31, 2017. Licensees that fail to convert their bonds or fail to meet the minimum surety requirements will be subject to expiration.

The converted bond is the conversion of a licensee's paper bond, including any associated riders for such paper bond, issued outside the NMLS (collectively referred to as "original bond") into an electronic form.

COMMONLY USED ACRONYMS

CE -- Continuing Education Department -- Georgia Department of Banking and Finance ESB -- Electronic Surety Bond GRMA -- Georgia Residential Mortgage Act

MCR -- Mortgage Call Report MLO -- Mortgage Loan Originator NMLS -- Nationwide Multistate Licensing System O.C.G.A. -- Official Code of Georgia Annotated

May 2017

NAME Melissa Burke Thompson

Administrative Actions

CITY Chattanooga

ST ACTION TYPE TN Order to Cease and Desist

Page 3

FINAL 05/08/2017

Fine Summary Information

FINE REASON Doing Business with Unlicensed Entity GRMA fees paid late Mortgage Call Report Filed Late in NMLS

COUNT 1 6

29

TOTAL 36

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, June 13-15 at the Westin Jekyll Island, GA

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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

Visit us on the Web: dbf.

May 2017

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, 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 a willing and able partner with our regulated entities in order to support vibrant economic growth and prosperity in Georgia.

Subscribe to 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. Notification is delivered to interested parties via e-mail. Licensee primary contacts are automatically subscribed to receive Department publications appropriate to their particular industry.

If you would like to be added to our distribution list, please go to the Quick Links section on our homepage (dbf.) and click on Stay Connected. This will take you to our new subscription service provided by GovDelivery (also known as Granicus). Notifications regarding subscriptions will originate from GADBF@.

MORTGAGE LOAN ORIGINATOR APPENDIX

License Status Approved Denied Revoked

Terminated ? Expired

Terminated ? Ordered to Surrender Terminated ? Surrendered/Cancelled

Definition

The entity has an Approved license.

The entity applied for a license and the reques t was Denied. The entity's licens e was Revoked and the entity is no longer authorized to conduct business. The entity failed to renew. Alternatively, this license s tatus is als o used for MLOs that were s us pended by adm inis trative action for failing to m eet Georgia's sponsorship requirement. An entity has been ordered to s urrender their approved licens e. The entity is not authorized to conduct business. The entity has requested a surrender/cancelation of their license and the regulator has granted this surrender/ cancelation request.

MLO ACTIVITY BY CURRENT LICENSE STATUS

GRMA# NMLS#

Entity Name

Approved

24593 25343 25963 26080 26314 28291 29111 32751 33123 33362 33630 34524 34995 35830 36656 37566 38594 38645 39217 39461 39779 39883 40903

167584 213839 81786 8161 170124 112023 6912 392844 710352 35351 865043 378420 900479 944432 977830 180832 1015674 1033145 928587 62554 952826 924534 294725

Rudy Augustine Hobbs III Brandon Jamal Stewart Thomas Reynard VanDeventer Norman Leung David Andrew Thomas Christopher Mark Burroughs Raymond Charles Gibson Malcolm Evans Arrington Amber Altman White Matthew Jude Silverman Matthew John DeCesaro Bart Mitchell Kolber REBECCA DIANE LAPP Christopher Showers Zachary David Sher Katina K Gray Kevin Leroy Harris Psalm David West Brian Patrick Connor Daniel James Calcaterra Michael Jackson Dooley Katie Lynn Smith Stanley Amon Goff Jr.

License Status

Date

Current Sponsoring Company Name (As of 06/01/2017)

05/31/2017 E Mortgage Management LLC 05/11/2017 Homestar Financial Corporation 05/02/2017 New Penn Financial, LLC 05/31/2017 NATIONS LENDING CORPORATION 05/01/2017 Fairway Independent Mortgage Corporation 05/30/2017 Caliber Home Loans, Inc. 05/02/2017 Fairway Independent Mortgage Corporation 05/31/2017 , LLC 05/03/2017 Ditech Financial LLC 05/04/2017 Lakeview Loan Servicing, LLC 05/01/2017 HomeBridge Financial Services, Inc. 05/15/2017 Impac Mortgage Corp. 05/23/2017 Meridian Capital Resources, Inc. 05/19/2017 WEI Mortgage LLC 05/26/2017 Skyline Financial Corp. 05/09/2017 05/31/2017 Lakeview Loan Servicing, LLC 05/11/2017 Carrington Mortgage Services, LLC 05/31/2017 Rushmore Loan Management Services LLC 05/24/2017 Towne Mortgage Company 05/04/2017 Carrington Mortgage Services, LLC 05/22/2017 Mortgage Research Center, LLC 05/24/2017 Platinum Home Mortgage Corporation

439

MLO Appendix 1 of 16

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