§ 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 […]
§ 7-1-1003. Applications for Licenses
An application for a license under this article shall be made in writing, under oath, and in such form as the department may prescribe. Each such form shall contain content as set forth by rule, regulation, instruction, or procedure of the department and may be changed or updated as necessary by the department in order […]
§ 7-1-1003.2. Financial Requirements for Licensing and Registration; Bond Requirements
Each licensed or registered mortgage broker shall provide the department with a bond. The bond for a mortgage broker shall be in the principal sum of $150,000.00 or such greater sum as the department may require as set forth by regulation based on an amount that reflects the dollar amount of loans originated, and the […]
§ 7-1-1003.3. Application for Registration
An application to register as a mortgage lender or broker under this article shall be made annually in writing, under oath, on a form provided by the department, subject to requirements specified by rules and regulations of the department. History. Code 1981, § 7-1-1003.3 , enacted by Ga. L. 2000, p. 174, § 26; Ga. […]
§ 7-1-1003.5. Nationwide Multistate Licensing System and Registry
The department is authorized to: Participate in the Nationwide Multistate Licensing System and Registry in order to facilitate the sharing of information and standardization of the licensing and application processes for mortgage loan originators, mortgage brokers, and mortgage lenders by electronic or other means; Enter into operating agreements, information sharing agreements, interstate cooperative agreements, and […]
§ 7-1-1003.6. Privileged or Confidential Nature of Information; Exception
Except as otherwise provided in the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, the requirements under any federal law or Georgia state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Multistate Licensing System and Registry and any privilege arising under federal or state law, […]
§ 7-1-1003.7. Approval of Mortgage Industry Related Courses; Application; Renewal Applications; Audits
Any education provider which offers mortgage industry related courses designed to satisfy education requirements as provided in subsection (c) of Code Section 7-1-1004 and associated department rules shall be approved by the department. An application under this Code section shall be made in writing, under oath, and in such form as the department may prescribe. […]