Department of Banking and Finance Enters into a Consent Order with Gateway Mortgage Group, LLC and its President, John Kevin Stitt
Atlanta, GA - December 1, 2009 - (RealEstateRama) — On November 23, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Gateway Mortgage Group, LLC, License Number 20712, located at 6910 E. 14th Street, Tulsa, Oklahoma 74112, and its president, John Kevin Stitt, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.
The Consent Order includes the following terms:
- The voluntary surrender of Gateway Mortgage Group, LLC’s mortgage lender’s license was effective on August 26, 2009, which is the date on which the surrender of this license was acknowledged by the Department. Gateway Mortgage Group, LLC can never apply to the Department for another license to be a Georgia mortgage lender or to be a Georgia mortgage broker;
- No company with a direct or indirect affiliation with Gateway Mortgage Group, LLC, excluding passive investments, shall apply to the Department for a Georgia mortgage broker’s or Georgia mortgage lender’s license for five years;
- For a five-year period, John Kevin Stitt is prohibited from applying for a Georgia mortgage broker’s or mortgage lender’s license. He also is prohibited from serving as a branch manager, or directing the affairs of or acting as an employee, director, officer, partner, equitable owner, or any other equivalent role for a Georgia mortgage broker or Georgia mortgage lender; and
- A $2,000.00 contribution has been made by Gateway Mortgage Group, LLC to the State Regulatory Registry, LLC to support the Nationwide Mortgage Licensing System.
Contact:
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: ">
The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage brokers, mortgage lenders, mortgage processors, mortgage loan originators, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia. Visit us on the Web at: http://dbf.georgia.gov/
Related posts:
- Department Enters into a Consent Order with Intelli Mortgage Services, Inc. and its President, Sung Doo (”John”) Chung
Atlanta, GA - May 13, 2009 - (RealEstateRama) — On May 5, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Intelli Mortgage Services, Inc. d/b/a gointelli, License Number 16999, located at 4274 Shackelford Rd, Ste A 1, Norcross, Georgia 30093 and its President, Sung Doo (“John”) Chung, to resolve allegations pertaining to violations...
- Georgia Department of Banking and Finance Enters into a Consent Order with Dependable Mortgage, LLC and its Owner, Gbenga Ibisanmi
Atlanta, GA - February 3, 2010 - (RealEstateRama) -- On January 27, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Dependable Mortgage, LLC, License Number 19425, formerly located at 6030 Dawson Boulevard, Suite A, Norcross, Georgia 30093, and its owner, Gbenga Ibisanmi, to resolve allegations pertaining to violations of the Georgia Residential Mortgage...
- Department of Banking and Finance Enters into a Consent Order with First-Rate Mortgage Inc. and its President, Steven Post
Atlanta, GA - December 1, 2009 - (RealEstateRama) -- On November 23, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with First-Rate Mortgage Inc., License Number 13134, located at 2377 Terrell Drive, Atlanta, Georgia 30341, and its president, Steven Post, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency...
- Department of Banking and Finance Enters into a Consent Order with America’s Mortgage Broker, LLC, and its owners, Mark Collins and Axiom, Inc.
Atlanta, GA - December 3, 2009 - (RealEstateRama) -- On December 1, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with America’s Mortgage Broker, LLC, mortgage lender’s license number 15600, located at 324 North Dale Mabry Highway, Suite 203, Tampa, Florida 33609-1266, and its owners, Mark Collins and Axiom, Inc., to resolve allegations of...
- Georgia Department of Banking and Finance Enters into a Consent Order with Lenox Financial Mortgage, LLC and its members Jon M. Shibley and Stefen Shibley
Atlanta, GA - January 28, 2010 - (RealEstateRama) -- On January 25, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Lenox Financial Mortgage, LLC, mortgage lender’s license number 19100, located at 6 Piedmont Center, Suite 500, 3525 Piedmont Road, Atlanta, Georgia, 30305, as well as its members, Jon M. Shibley and Stefen Shibley,to...
[…] post: Department of Banking and Finance Enters into a Consent Order with … By admin | category: direct lender mortgage | tags: although-it-may, department, […]