Department's Order to Cease and Desist Against Calvin Wheeler Becomes Final

July 13, 2009


Atlanta, Georgia ~  On July 13, 2009, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Calvin Wheeler of Lithonia, Georgia became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Calvin Wheeler engaged in mortgage brokering activities without a license or under an applicable exemption in violation of O.C.G.A. § 7-1-1002.

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.

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 in a violation of O.C.G.A. § 7-1-1002.

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

 

The Department has regulatory and/or licensing authority over state-chartered banks, credit unions, trust companies, mortgage brokers, mortgage lenders, mortgage processors, check cashers, sale of check companies, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.  Visit us on the Web at: http://dbf.georgia.gov/

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