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Department's Cease and Desist Order Issued to Katherine Le Becomes Final

Department's Cease and Desist Order Issued to Katherine Le Becomes Final

May 12, 2008


Atlanta, Georgia ~ On May 6, 2008, the Georgia Department of Banking and Finance’s (“Department’s”) Order to Cease and Desist issued to Katherine Le, president of NLC of Georgia, Inc., located in Houston, Texas, became final.  

The Order to Cease and Desist provided that Katherine Le employed a felon; 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.

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 conducting mortgage business with an unlicensed person.  

 

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

 

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Order to Katherine Le49.01 KB