FOR IMMEDIATE RELEASE	Monday, September 29, 2008

Department of Banking and Finance Enters into a Consent Order with Erica Rodney

Atlanta, Georgia ~ On September 19, 2008, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Erica Rodney of Lithonia, Georgia, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act.

Included among the terms of the Consent Order are provisions that call for Erica Rodney to be affiliated with a Georgia mortgage broker or Georgia mortgage lender as an employee for a 5-year period and prohibit her from applying for a Georgia mortgage broker’s or Georgia lender’s license during this time frame. Ms. Rodney also 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 5-year period that this Consent Order is in effect. Further, the Consent Order prohibits Ms. Rodney from serving as a branch manager for a Georgia mortgage broker or Georgia mortgage lender during this same period of time. 

Other terms of the Consent Order require Ms. Rodney to take continuing legal education regarding the mortgage brokering process/fraud and make a $1,500.00 contribution to the State Regulatory Registry, LLC to support the Nationwide Mortgage Licensing System.  

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