Atlanta, Georgia — On July 30, 2013, the Superior Court of DeKalb County issued a Final Order and Judgment enjoining National African American Relationships Institute, Inc. (“NAARI”) d/b/a NAARI Housing Counseling Agency d/b/a naarihousingcounselingagency.com d/b/a aarelationshipsinstitute.com from further violation of an Order to Cease and Desist issued to the company by the Georgia Department of Banking and Finance (“Department”).
The Department issued an Order to Cease and Desist to NAARI after evidence was obtained that the company was engaging in residential mortgage activities without a license or pursuant to an exemption from licensing laws. This Order to Cease and Desist became final on December 21, 2011. The Department subsequently learned that NAARI violated the Order to Cease and Desist by continuing to engage in mortgage activities requiring a license, including soliciting or negotiating mortgage loan modifications or offering to solicit or negotiate mortgage loan modifications.
On April 3, 2013, the Department filed an action in the DeKalb County Superior Court to obtain a court order to prevent NAARI from further violation of this agency’s Order to Cease and Desist. The Superior Court of DeKalb County entered an order finding NAARI to be in violation of the Department’s Order to Cease and Desist and ordered the company to comply with its terms. Failure to comply with the Department’s Order to Cease and Desist and the Court’s Final Order and Judgment may result in additional legal action being pursued against NAARI.
Pursuant to Georgia law, it is prohibited for any person to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others, including the renewal or refinancing of any such loan, without a mortgage license or pursuant to an exemption. Information gathered which is sufficient to verify credit, employment, income, date of birth, etc. constitutes taking an application and requires a license. NAARI does not have a Georgia license and is not exempt from licensure. The FTC’s Mortgage Assistance Relief Services (MARS) Rule prohibits companies that offer to help homeowners get their loans modified or sell them other types of mortgage assistance relief services from charging up-front / advance fees.
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage loan originators, mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia. Visit us on the Web at: http://dbf.georgia.gov/