Order To Cease And Desist Issued To National Asset Direct Acquisition, LLC Becomes Final

May 18, 2009


Atlanta, Georgia   On May 10, 2009  an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to National Asset Direct Acquisition,  LLC, New York, NY  became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that  National Asset Direct Acquisition, LLC, engaged in mortgage broker/lending activities without a license or under an applicable exemption.

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.

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