Notice of Intent to Revoke Annual License of Georgia Mortgage & Realty, LLC, and Order to Cease and Desist Issued to Steven Bernstein Become Final
Atlanta, GA – July 16, 2009 – (RealEstateRama) — On July 14, 2009, the Georgia Department of Banking and Finance’s (“Department’s”) Amended Notice of Intent to Revoke Annual License of Georgia Mortgage & Realty, LLC, located at 203 Hilderbrand Drive, Sandy Springs, Georgia 30328, mortgage broker’s license number 5633, became final.
The Amended Notice of Intent to Revoke Annual License issued to Georgia Mortgage & Realty, LLC provided among other things that this licensee employed a felon and made false statements or misrepresented material facts to mortgage lenders.
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 Amended Notice of Intent to Revoke Annual License, the Department issued an Amended Order to Cease and Desist to Steven Bernstein, who is the president of Georgia Mortgage & Realty, LLC. The Amended Order to Cease and Desist issued by the Department provided among other things that it was unlawful for Mr. Bernstein to own and be employed by a Georgia residential mortgage licensee. It also provided that Steven Bernstein made false statements or misrepresented materials facts to mortgage lenders.
The Department’s Amended Order to Cease and Desist issued to Steven Bernstein also became final on July 14, 2009.
Contact:
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: ">
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/
