(Source: Department of Banking and Finance) -- On July 31, 2012, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Reverse Mortgage HelpDesk, LLC d/b/a www.reverse-mortgage.org, d/b/a www.reversemortgagehelpdesk.com, located at 3415 Old 41 Highway, Suite 730 Kennesaw, Georgia 30144, became final.
This Order to Cease and Desist was issued by the Department after it obtained evidence that Reverse Mortgage HelpDesk, LLC d/b/a www.reverse-mortgage.org, d/b/a www.reversemortgagehelpdesk.com engaged in residential mortgage brokering and/or originating activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.
Pursuant to Georgia law, it is prohibited for any person to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others without a mortgage license or pursuant to an exemption from licensure.
It is also 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.
Contact:
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: rodc@dbf.state.ga.us
Source: Department of Banking and Finance
