Order to Cease and Desist Issued to Daniel Pennywell Becomes Final

January 8, 2008

Atlanta, Georgia ~ On December 30, 2007, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance ("Department") to Daniel Pennywell of Avondale Estates, Georgia, became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Daniel Pennywell engaged in mortgage broker/lending activities without a license or under an applicable exemption. This occurred as a result of Mr. Pennywell engaging in residential mortgage activities while in the employ of two mortgage licensees at the same time. It is impermissible under Department rules to maintain an employee exemption to licensure while performing mortgage activities for more than one licensee.

A copy of the Order to Cease and Desist issued by the Department to Daniel Pennywell can be accessed from the file attachment below. 

Pursuant to Georgia law, it is 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 to engage in mortgage broker/lender activities.  

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