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Georgia Department of Banking and Finance Revokes the Mortgage Lender’s License of Pacific Reverse...
Atlanta, GA - August 19, 2009 - (RealEstateRama) -- On August 14, 2009, the Georgia Department of Banking and Finance’s (“Department’s”) Notice of Intent to Revoke Annual License issued to Pacific Reverse Mortgage, Inc. d/b/a Financial Heritage, license number 20269, located at 9275 Sky Park Court, #125, San Diego, California 92123, became final.The Notice of Intent to Revoke Annual License provided that Pacific Reverse Mortgage, Inc. d/b/a Financial Heritage failed to disburse funds in accordance with a written commitment or agreement to make a mortgage loan and engaged in any transaction, practice, or course of business that is not in good faith or fair dealing, or which operated a fraud upon any person, in connection with the attempted or actual making of, purchase of, or sale of any mortgage loan