Atlanta, GA – March 12, 2013 – (RealEstateRama) — On March 7, 2013, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Nicholas Justin Yeargin, License Number 28863 to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act.
The terms of the Consent Order include the following:
Nicholas Justin Yeargin is prohibited from making an application for a Georgia mortgage broker or Georgia mortgage lender’s license, either in his individual capacity or as the owner or officer of a corporation, partnership, or limited liability company for a period of five years; and
Nicholas Justin Yeargin is prohibited from making an application to be a branch manager or ultimate equitable owner of ten percent or more of a licensed Georgia mortgage broker or Georgia mortgage lender for five years; and
Nicholas Justin Yeargin shall be required to complete four hours of education from a Department-approved provider of mortgage coursework on the Georgia Residential Mortgage Act, including mortgage fraud; and
Nicholas Justin Yeargin shall pay a fine in the amount of $1,000.00 in connection with allegations that Mr. Yeargin violated the Georgia Residential Mortgage Act; and
Nicholas Justin Yeargin shall contribute $1,000.00 to the State Regulatory Registry.
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage loan originators, mortgage brokers, mortgage lenders, mortgage processors, 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/