Atlanta, Georgia - On December 21, 2012, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with American Equity Mortgage, Inc. (“American Equity”), mortgage lender’s license number 13015, NMLS number 1899, located at 11933 Westline Industrial Drive St. Louis, MO 63146, and its owner, Deanna Lynn Daughhetee, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act.
The terms of the Consent Order include the following:
American Equity shall perform background checks in compliance with O.C.G.A. § 7-1-1004;
No individual shall be employed by American Equity if he or she has been convicted of a felony in compliance with O.C.G.A. § 7-1-1004;
American Equity shall immediately implement measures to ensure that its business operations and employees are subject to an appropriate level of supervision at all times by an approved branch manager, as provided for in Department Rule 80-11-1-.04(1); and
American Equity shall pay fines to the Department in the amount of $97,000.00 and shall contribute $2,000.00 to the State Regulatory Registry, LLC, a wholly-owned subsidiary of the Conference of State Bank Supervisors (“CSBS”) to support the NMLS.
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage loan originators, 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/