Atlanta, Georgia ~ On October 10, 2008, the Georgia Department of Banking and Finance (“Department”) Notice of Intent to Revoke Annual License became final against Chateau Mortgage Corporation, mortgage broker license number 13416, located at 5324 Willow Point Parkway, Marietta, Georgia 30068.
The Notice of Intent to Revoke Annual License provided that Chateau Mortgage Corporation made false statements and misrepresented material facts to lenders; employed a person against whom a final cease and desist order had been issued within the three preceding years; employed a felon; 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 Orders to Cease and Desist to the owners of Chateau Mortgage Corporation, John W. Moss and Barbara M. Moss. These Orders to Cease and Desist also became final on October 10, 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