Atlanta, GA – January 16, 2012 – (RealEstateRama) — On January 6, 2012, the Georgia Department of Banking and Finance’s (“Department’s”) Notice of Intent to Revoke Annual License of Citizens First Mortgage Solutions, Inc., located at 2330 Scenic Highway, Suite 111, Snellville, Georgia 30078, mortgage broker’s license number 15287, Nationwide Mortgage Licensing System (“NMLS”) number 169620, became final.
The Notice of Intent to Revoke Annual License issued to Citizens First Mortgage Solutions, Inc. provided among other things that this licensee made false statements or material misrepresentations to the Department; made false statements or misrepresented material facts to lenders; failed to properly maintain a mortgage loan transaction journal; and, transacted business with unlicensed or unregistered entities, not exempt from licensing and registration requirements.
Pursuant to state law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to a mortgage broker or mortgage lender who is not licensed or exempt from licensing or registration provisions.
In conjunction with the violations identified in the Notice of Intent to Revoke Annual License, the Department issued an Order to Cease and Desist to Cynthia Rumph (mortgage loan originator license number 27062; NMLS number 172864), who is the president and owner of Citizens First Mortgage Solutions, Inc.
The Department’s Order to Cease and Desist issued to Ms. Rumph also became final on January 6, 2012.
Pursuant to state law, the Department may revoke the license of a mortgage broker or mortgage lender licensed in Georgia that employs an individual against whom a final Order to Cease and Desist for these types of violations has been issued within the preceding five years.
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/