Atlanta, GA – August 11, 2009 – (RealEstateRama) — On August 7, 2009, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with W.J. Bradley Mortgage Capital Corporation f/k/a Morgan Financial, Inc. (“W.J. Bradley Mortgage”), mortgage lender’s license number 20233, located at 201 Columbine Street, Denver, Colorado 80206, to resolve allegations of violations of the Georgia Residential Mortgage Act.
The terms of the Consent Order include a series of requirements that W.J. Bradley Mortgage shall develop and implement policies, procedures and best practices that will ensure compliance with state law and related Department rules regarding Georgia residential mortgage activity. The Consent Order further requires W. J. Bradley Mortgage to pay fines to the Department in the amount of $9,000 and make a contribution 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, 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/