Mortgage Broker and Lender Location Books, Records, and Accounts Requirements and Minimum Retention Period

Mortgage broker's or lender's required to be licensed under the Georgia Residential Mortgage Act (GRMA) (Title 7, Chapter 1, ARTICLE 13 of the Financial Institutions Code of Georgia) must maintain required books, accounts and records at the principal place of business.

Any mortgage broker or lender required to be licensed under the GRMA must maintain required books, accounts and records at the principal place of business. Should a licensee wish to maintain such records elsewhere, it must notify the Department in writing via the Nationwide Multistate Licensing System and Registry prior to said books, accounts, and records being maintained in any place other than the designated principal place of business.

Books, accounts and records maintained at a location other than the principal place of business shall be made available to the Department within five (5) business days from the date of written request by the Department and at a reasonable and convenient location acceptable to the Department.

Generally, all books, accounts, and records required by Department Rule Chapter 80-11-2 are required to maintained for a period of five years.  Loan files and related records and certain disclosure documentation must be maintained for a period of five years from the final disposition date of the loan application to which the records relate. 

Please refer to the Rule Chapter 80-11-2 of Department’s Rules and Regulations for more information:  https://dbf.georgia.gov/laws-regulations-rulings-publications/dbf-regulations