Order to Cease and Desist Issued to AGF Properties, LLC Becomes Final

Order to Cease and Desist Issued to AGF Properties, LLC Becomes Final

Atlanta, Georgia – July 11, 2013 – (RealEstateRama) — On July 8, 2013, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to AGF Properties, LLC, located at 1720 Mars Hill Road, #8-290, Acworth, Georgia 30101 became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that AGF Properties, LLC engaged in residential mortgage brokering, lending and/or originating activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.

Pursuant to Georgia law, it is prohibited for any person to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others without a mortgage license or pursuant to an exemption from licensure. It is prohibited for any person to directly or indirectly make, originate, underwrite, hold, purchase, or service a mortgage loan without a mortgage license or pursuant to an exemption from licensure.

It is also prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to an entity that is not licensed or exempt from licensing or registration provisions.

Contact:
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail:

SHARE
Previous article60,000 delinquent metro Atlanta homeowners can apply for Making Home Affordable
Next articleThe Mary Ellen Vanaken Team of Keller Williams Realty Lists Million Dollar Georgia Home