***REVISED PRESS RELEASE***
Please note that changes have been made to the press release that was sent out on 12/18/2008 and are reflected in the revised press release below.
Atlanta, Georgia ~ On December 18, 2008, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with First United Lending, LLC, mortgage broker’s license number 19246, of Woodstock, Georgia 30189, and its owner, Christie Davis, to resolve allegations pertaining to a violation of the Georgia Residential Mortgage Act.
The terms of the Consent Order include the following:
- The revocation of the mortgage broker’s license of First United Lending, LLC is effective as of December 18, 2008. First United Lending, LLC can never apply to the Department for another license to be a mortgage broker or mortgage lender;
- Christie Davis is prohibited from directing the affairs of a mortgage broker or mortgage lender, or from acting as a director, officer, partner, equitable owner or any other equivalent role for a mortgage broker or mortgage lender for five years from December 18, 2008. Further, Christie Davis is prohibited from acting as a branch manager for a Georgia mortgage broker or Georgia mortgage lender during this five year period;
- Christie Davis shall only be affiliated with a mortgage broker or mortgage lender as a W-2 employee during this five year period;
- Christie Davis is prohibited from applying for a mortgage broker’s or mortgage lender’s license, either in her individual capacity or as the owner or officer of a corporation, partnership, limited liability company, or other business association, for five years from the date of entry of the Consent Order.
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371