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Georgia Residential Mortgage Act (GRMA) Fees Due March 1, 2014

The $10.00 per loan fees required by O.C.G.A. § 7-1-1011(b)(2) and Department Rule 80-5-1-.04 are due no later than March 1, 2014, for mortgage loans closed during the period July 1, 2013, through December 31, 2013.  Pursuant to Rule 80-5-1-.04(a), a $10.00 fee will be due if the loan is a mortgage loan as defined in the GRMA, and if the loan is secured by a deed to secure debt, security deed, mortgage, security instrument, deed of trust, a modification of a security deed, or other form or modification of a security interest which has been recorded. A change to a security instrument made solely for the purpose of correcting a clerical error will not be subject to a $10.00 fee. A mortgage loan shall be deemed to have been closed by a person if such person is indicated as the secured party on the security deed or any other loan document that establishes a lien on the residential real estate taken as collateral for the mortgage loan.

Financial institutions, mortgage licensees and registrants that act as the collecting agent (including brokers who table fund and collect the fee) must submit the fees and file the fee statement before the deadline to avoid fines. 

GRMA per loan fee reporting/remittance must be completed on-line through the Department’s secure website.  Reporting is required even if no mortgage loans were made and no fees are due.  To avoid fines for failure to report/remit GRMA fees, reporting must be completed by the deadline noted above. 

With the on-line payment process, the Department accepts either ACH drafts on a checking account or payments by Visa, MasterCard, AmericanExpress, or Discover credit cards.  Reporting and fee payment must be done online from our secure website at:

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NOTE:  If the reports or fees are not remitted in a timely manner, the Department may take administrative action, including, but not limited to, the imposition of a late fee of $100 pursuant to Department Rule 80-11-3-.01(13). There will be no waivers of fines assessed if the online form and fee payment (where applicable) have not been submitted by the deadline referenced above.