Notice of Intent to Revoke License of Transcontinental Lending Group, Inc. and Orders to James P. Gardner and Earl S. Wiley Become Final

March 12, 2010


Atlanta, Georgia ~
 On March 11, 2010, the Georgia Department of Banking and Finance’s (“Department’s”) Notice of Intent to Revoke Annual License of Transcontinental Lending Group, Inc., located at 401 Fairway Drive, Deerfield Beach, Florida 33441, mortgage broker’s license number 21167, Nationwide Mortgage Licensing System number 1677, became final.

The Notice of Intent to Revoke Annual License issued to Transcontinental Lending Group, Inc. provided among other things that this licensee employed a felon, failed to properly maintain a mortgage loan transaction journal and transacted business with unlicensed or unregistered entities, not exempt from licensing and registration requirements.

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 who is not licensed or exempt from licensing or registration provisions.

In conjunction with the violations identified in the Notice of Intent to Revoke Annual License, the Department issued Orders to Cease and Desist to Earl Wiley, who is the president of Transcontinental Lending Group, Inc., and James P. Gardner, who is the chief executive officer of the company.

The Department’s Orders to Cease and Desist issued to Messrs. Wiley and Gardner also became final on March 11, 2010.

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 loan originators, 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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