Fidelity One Finance, LLC License Revocation and Order to Fidelis Mutyambizi Become Final

September 15, 2008

Atlanta, Georgia ~ On September 9, 2008, the Georgia Department of Banking and Finance’s (“Department’s”) Notice of Intent to Revoke Annual License became final against Fidelity One Finance, LLC, mortgage broker license number 21949, located at 12911 SW 85th Street, Miami, Florida 33183. 

The Notice of Intent to Revoke Annual License provided that Fidelity One Finance, LLC made false statements and misrepresented material facts to lenders; purposely withheld information requested by a Department examiner; operated an unapproved branch; failed to timely run background checks on all employees; failed to maintain a loan file for each mortgage loan transaction; failed to properly maintain a mortgage loan transaction journal; and controlled a person who was unlicensed and unregistered, not exempt from licensing and registration requirements and who was not an employee of a mortgage broker or lender.

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 Fidelis Mutyambizi, the owner of Fidelity One Finance, LLC.  This Order to Cease and Desist also became final on September 9, 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 conducting mortgage business with an unlicensed person or committing prohibited acts.    

Rod Carnes, Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371


Related Files: