FOR IMMEDIATE RELEASE	Friday, July 11, 2008

Department of Banking and Finance Enters Into Consent Order with Stella Mary Browne

Atlanta, Georgia ~   On July 7, 2008, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Stella Mary Browne of Decatur, Georgia, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.

The terms of the Consent Order provide that for a 3-year period, Stella Mary Browne can only be affiliated with a Georgia mortgage broker or Georgia mortgage lender as a W-2 employee and is prohibited from applying for a Georgia mortgage broker’s or Georgia lender’s license. Ms. Browne is prohibited from directing the affairs of a Georgia mortgage broker or Georgia mortgage lender or from acting as a director, officer, partner, equitable owner, or any other equivalent role for a Georgia mortgage broker or Georgia mortgage lender during the 3-year period that this Consent Order is in effect. The Consent Order also prohibits Ms. Browne from serving as a branch manager for a Georgia mortgage broker or Georgia mortgage lender during this same period of time.   

Contact: 
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: rodc@dbf.state.ga.us