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FMC Financial, Inc. Revocation and Orders to Ji Y. Yang and Byung Kim Become Final

FMC Financial, Inc. Revocation and Orders to Ji Y. Yang and Byung Kim Become Final

January 8, 2008


Atlanta, Georgia ~ On December 24, 2007, the Georgia Department of Banking and Finance's ("Department's") Notice of Intent to Revoke Annual License issued to FMC Financial, Inc., license number 20923, located at 1805 Herrington Road, Bldg #1, Suite B-2, Lawrenceville, Georgia 30043 became final. 

The Notice of Intent to Revoke Annual License provided that FMC Financial, Inc. purposefully withheld, deleted, destroyed or altered information requested by an examiner and made false statements to the Department.

A copy of the Notice of Intent to Revoke issued to FMC Financial, Inc. can be accessed from the file attachment below.

Pursuant to state law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to a mortgage broker or mortgage lender who is not licensed or exempt from licensing or registration provisions.

In conjunction with these same violations, the Department issued Orders to Cease and Desist to Ji Y. Yang, who is the president of FMC Financial, Inc, and Byung "Chris" Kim. These Orders to Cease and Desist also became final on December 24, 2007, and can be accessed from the file attachment below.

Pursuant to state law that was in effect when the violations underlying the Order to Cease and Desist were committed, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding five years if the Order resulted from the commission of a prohibited act.  

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

Related Files: 
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FMC Financial NITR_ Yang Kim Orders117.01 KB