Atlanta, Georgia ~ On July 11, 2008, the Georgia Department of Banking and Finance’s (“Department’s”) Notice of Intent to Revoke Annual License issued to North Metro Atlanta Mortgage, LLC, license number 20839, located at 2900 Mountain Industrial Boulevard, Suite-D, Tucker, Georgia 30084, became final.
The Notice of Intent to Revoke Annual License provided that North Metro Atlanta Mortgage, LLC made false statements or misrepresented material facts to lenders, employed an unapproved branch manager and failed to properly maintain a mortgage loan transaction journal.
Pursuant to state law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to a mortgage broker or mortgage lender that is not licensed or exempt from licensing or registration provisions.
In conjunction with these same violations, the Department issued an Order to Cease and Desist to Onyi Okoronta, the chief executive officer of North Metro Atlanta Mortgage, LLC. This Order to Cease and Desist also became final on July 11, 2008.
Pursuant to state law that was in effect when the violations underlying the Order to Cease and Desist were committed, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding five years if the Order resulted from committing prohibited acts.
Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371