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Order to Cease and Desist Issued to Mortgage Relief Advocates, LLC d/b/a The MRA Group Becomes Final

Order to Cease and Desist Issued to Mortgage Relief Advocates, LLC d/b/a The MRA Group Becomes Final

April 1, 2014

Atlanta, Georgia — On April 1, 2014, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Mortgage Relief Advocates, LLC d/b/a The MRA Group located at 18000 Studabaker Rd., Suite 700 Cerritos, CA 90703 became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Mortgage Relief Advocates, LLC d/b/a The MRA Group engaged in residential mortgage brokering and/or originating activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.

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 without a mortgage license or pursuant to an exemption from licensure.

It is also 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.

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

 

The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, and state-chartered trust companies. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia.  In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.