Mortgage Brokers and Mortgage Lenders

Under the Georgia Residential Mortgage Act (“GRMA”) the Department licenses mortgage brokers and mortgage lenders.  O.C.G.A. §§ 7-1-1000 through 7-1-1021.[1]  A “mortgage lender” is a person or company who directly or indirectly makes, originates, underwrites, holds, or purchases mortgage loans or who services mortgage loans.  O.C.G.A. § 7-1-1000(20).  A “mortgage broker” is a person or company who directly or indirectly solicits, processes, places, or negotiates mortgage loans for others, offers to perform such services for others, or closes loans in the mortgage broker’s name using funding provided by others.  O.C.G.A. § 7-1-1000(19). 

Consumers may work with mortgage brokers and/or mortgage lenders when obtaining a mortgage loan.  Alternatively, consumers may work with depository institutions such as banks or credit unions to obtain a loan.  Banks and credit unions are exempt from the licensing requirements under GRMA.

Mortgage brokers and mortgage lenders offering mortgage loans to Georgia consumers must be licensed by the Department unless the entity qualifies for one of the limited exemptions listed in O.C.G.A. § 7-1-1001.  The Department utilizes the Nationwide Multistate Licensing System (“NMLS”) to license and manage mortgage brokers and mortgage lenders.   Consumers can verify that mortgage brokers and mortgage lenders are authorized to operate in Georgia by checking the NMLS Consumer Access, available at www.nmlsconsumeraccess.org

If you believe that you have conducted business with an entity making or brokering mortgage loans in Georgia who is not listed as a licensed entity through NMLS Consumer Access, please report such entity to [email protected].   

If you have had an issue with a licensed mortgage broker or lender in Georgia, you should attempt to resolve the issue directly with the entity.  If you are unable to resolve the issue directly with the entity, you may wish to file a complaint with the Consumer Financial Protection Bureau (“CFPB”).  For more information about the CFPB complaint process, please visit: https://www.consumerfinance.gov/complaint/.

The Department is not authorized to resolve disputes between consumers and mortgage entities.  However, the Department will use information provided by consumers in its regulatory process.  If you wish to report an issue to the Department, please send a detailed email and any supporting documentation to [email protected]. 

For more information on how the Department regulates mortgage brokers and mortgage lenders, please visit Mortgage Entities..

[1] To access these laws or any part of the Georgia Code, please visit the Georgia General Assembly and type in the relevant Code Section (e.g., “7-1-1000”) into the provided search bar. (Links off-site)

The Code is provided by the State of Georgia from the Georgia General Assembly's website. In viewing the Code, please be aware that legislation passed during the most recent legislative session may not yet be posted on LexisNexis.