Atlanta, Georgia ~ On August 7, 2008, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Promenade Mortgage Lending, LLC, located in Villa Rica, Georgia, became final.
This Order to Cease and Desist was issued by the Department after it obtained evidence that Promenade Mortgage Lending, LLC engaged in residential mortgage brokering/lending activities without a license or under an applicable exemption.
Pursuant to Georgia law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to an entity that is not licensed or exempt from licensing or registration provisions to engage in residential mortgage brokering or lending.
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371