§ 7-1-1021. Regulations Governing Lock-in and Commitment Agreements
The department may promulgate regulations governing the use and contents of lock-in agreements and commitment agreements. History. Code 1981, § 7-1-1021 , enacted by Ga. L. 1994, p. 570, § 14; Ga. L. 2009, p. 252, § 1/HB 312.
§ 7-1-1006. Contents of License; Posting of License; Transferring of License; Transacting Business Under Other Name; Change of Address; Opening a New Additional Office Without Prior Approval; Approval of Branch Manager
Each license issued under this article shall state the name of the licensee. A licensee shall post a copy of such license in a conspicuous place in each place of business of the licensee. A license shall not be transferred or assigned. No licensee shall transact business under any name or names other than those […]
§ 7-1-1000. Definitions
As used in this article, the term: “Affiliate” or “person affiliated with” means, when used with reference to a specified person, a person who directly, indirectly, or through one or more intermediaries controls, is controlled by, or is under common control with the person specified. Any beneficial owner of 10 percent or more of the […]
§ 7-1-1007. Licensee to Give Notice of Certain Actions Brought Against It by a Creditor or Borrower; Notice to the Department of Cancellation of Bond
A licensee shall give written notice to the department of any action which may be brought against it by any creditor or borrower where such action is brought under this article, involves a claim against the bond filed with the department for the purposes of compliance with Code Section 7-1-1003.2 or 7-1-1004, or involves a […]
§ 7-1-1001. Exemption for Certain Persons and Entities; Registration Requirements; Authorized Actions of Licensed Mortgage Lenders; Violations
The following persons shall not be required to obtain a mortgage loan originator, mortgage broker, or mortgage lender license and shall not be subject to the provisions of this article but may be subject to registration requirements, if registration of such persons is required by this article: Any lender authorized to engage in business as […]
§ 7-1-1008. Acquisition of 10 Percent or More of the Voting Shares or of the Ownership of Any Other Entity Licensed or Registered to Conduct Business Under This Article
Except as provided in this Code section, no person shall acquire directly or indirectly 10 percent or more of the voting shares of a corporation or 10 percent or more of the ownership of any other entity licensed or registered to conduct business as a mortgage broker or mortgage lender under this article unless it […]
§ 7-1-1001.1. Requirement for Mortgage Loan Originator License; Application to Sellers of Mobile Homes
It shall be prohibited for any person to engage in the activities of a mortgage loan originator without first obtaining and maintaining a mortgage loan originator license as set forth in this article. The department shall have the broad administrative authority to administer, interpret, and enforce this article and the federal Secure and Fair Enforcement […]
§ 7-1-1009. Maintenance of Books, Accounts, and Records; Investigation and Examination of Licensees and Registrants by Department; Confidentiality; Exemptions From Civil Liability
Mortgage brokers and mortgage lenders required to be licensed or registered under this article shall maintain at their offices or such other location as the department shall permit such books, accounts, and records as the department may reasonably require in order to determine whether such mortgage brokers and mortgage lenders are complying with the provisions […]
§ 7-1-1002. Transaction of Business Without a License, Registration, or Exemption Prohibited; Knowing Purchase of Mortgage Loan From Unlicensed or Nonexempt Broker or Lender Prohibited; Liability of Persons Controlling Violators
It shall be prohibited for any person to transact business in this state directly or indirectly as a mortgage broker, a mortgage lender, or a mortgage loan originator unless such person: Is licensed or registered as such by the department utilizing the Nationwide Multistate Licensing System and Registry; Is exempted from the licensing or registration […]
§ 7-1-1010. Annual Financial Statements
If a mortgage broker is a United States Department of Housing and Urban Development loan correspondent, such broker shall also submit to the department the audit that is required for the United States Department of Housing and Urban Development. The department may require the mortgage broker to have made an audit of the books and […]