Atlanta, GA – June 29, 2010 – (RealEstateRama) — On June 22, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with eMortgage Group, LLC, License Number 22491, located at 125 Townpark Drive, Suite 300, Kennesaw, Georgia 30144and its owner, Erica Hill, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.
The terms of the Consent Order are as follows:
- The revocation of eMortgage Group, LLC mortgage broker’s license is effective as of June 22, 2010. eMortgage Group, LLC can never apply to the Department for another license to be a mortgage broker or mortgage lender;
- The Department rescinds the proposed Cease and Desist Order issued to Erica Hill;
- Ms. Hill must attend a 4-hour Department-approved education course in mortgage fraud prevention and ethics within a 60-day period.
- For a five-year period, Ms. Hill can only be affiliated with a mortgage broker or mortgage lender as an employee and is prohibited from applying for a mortgage broker’s or lender’s license. During this same time frame, Ms. Hill may not serve as a branch manager or direct the affairs or act as a director, officer, partner, equitable owner, or any other equivalent role of a Georgia mortgage broker or Georgia mortgage lender; and,
- A $500 contribution shall be made by eMortgage Group, LLC to the State Regulatory Registry, LLC to support the Nationwide Mortgage Licensing System.
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/