Atlanta, Georgia ~ On January 9, 2008, the Georgia Department of Banking and Finance's ("Department's") Notice of Intent to Revoke Annual License issued to Global Empire Property Investment, LLC d/b/a Alpha Empire Mortgage Company ("Alpha Empire"), license number 20478, located at 6414 Lawrenceville Highway, Tucker, Georgia, became final.
The Notice of Intent to Revoke Annual License provided that Alpha Empire made false statements or misrepresented material facts to lenders; transacted business with and controlled a person who is unlicensed and unregistered, not exempt from licensing and registrations requirements and who is not an employee of a mortgage broker or lender; and failed to properly maintain a mortgage loan transaction journal.
A copy of the Notice of Intent to Revoke issued to Alpha Empire 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 that is not licensed or exempt from licensing or registration provisions.
In conjunction with these same violations, the Department issued an Order to Cease and Desist to Glen Bruce, who is the president of Alpha Empire. This Order to Cease and Desist also became final on January 9, 2008, and can be accessed from the file attachment below.
State law that was in effect when the violations underlying this Order to Cease and Desist were committed permits the Department to 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 three years if the Order resulted from the commission of a prohibited act.
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371