Georgia Department of Banking and Finance Enters into a Consent Order with Dependable Mortgage, LLC and its Owner, Gbenga Ibisanmi

February 2, 2010


Atlanta, Georgia ~
 On January 27, 2010, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Dependable Mortgage, LLC, License Number 19425, formerly located at 6030 Dawson Boulevard, Suite A, Norcross, Georgia 30093, and its owner, Gbenga Ibisanmi, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.

The Consent Order includes the following terms:

  • The revocation of Dependable Mortgage, LLC’s mortgage broker’s license became effective on January 27, 2010. Dependable Mortgage, LLC can never apply to the Department for another license to be a mortgage broker or to be a mortgage lender;
  • Gbenga Ibisanmi is prohibited from directing the affairs of a Georgia mortgage broker or Georgia mortgage lender or from acting as a director, officer, partner, employee, equitable owner, or any other equivalent role for a mortgage broker or mortgage lender for 5 years. Further, Mr. Ibisanmi is prohibited from acting as a branch manager for a Georgia mortgage broker or Georgia mortgage lender for 5 years; and
  • Gbenga Ibisanmi is prohibited from applying for a Georgia mortgage broker’s or Georgia mortgage lender’s license, either in his individual capacity or as the owner or officer of a corporation, partnership, limited liability company, or other business association, for 5 years.


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, mortgage loan originators, 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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Related Files: 
PDF icon Consent Order (104.06 KB)