Atlanta, Georgia ~ On February 10, 2009, the Notice of Intent to Revoke Annual License issued by the Georgia Department of Banking and Finance (“Department”) became final against Fidelity Home Mortgage Corporation, mortgage lender’s license number 17079, located at 1012 North Point Road, Baltimore, Maryland 21224.
The Notice of Intent to Revoke Annual License provided that Fidelity Home Mortgage Corporation purposefully withheld information requested by an examiner of the Department during the course of an examination in violation of O.C.G.A. § 7-1-1013(11).
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 Orders to Cease and Desist to Stilianos “Stan” Mavroulis, President of Fidelity Home Mortgage Corporation, and Vasilios “Bill” Mavroulis, Vice President of Fidelity Home Mortgage Corporation. These Orders to Cease and Desist also became final on February10, 2009.
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 or committing prohibited acts.
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371