Atlanta, GA – January 25, 2010 – (RealEstateRama) — On January 20, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Exclusive Metro Properties, LLC located at 2350 Spring Road #103, Smyrna, Georgia 30080 became final.This Order to Cease and Desist was issued by the Department after it obtained evidence that Exclusive Metro Properties, LLC engaged in residential mortgage brokering/lending activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.
It is 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.
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/