Georgia Department of Banking and Finance Obtains a Court Order against Robert Vance Bibb to Prohibit his Continued Violation of its Order to Cease and Desist

May 12, 2010


Atlanta, Georgia - On May 4, 2010, the Cherokee County Superior Court issued a Final Consent Order enjoining Robert Vance Bibb of Canton, Georgia, from further violation of the Georgia Department of Banking and Finance’s (“Department’s”) order requiring him to cease and desist from engaging in residential mortgage activities.

On October 29, 2009, an Order to Cease and Desist was issued by the Department to Mr. Bibb after this agency obtained evidence that he was working for Mortgage America, LLC, Georgia residential mortgage licensee, despite being a convicted felon. On December 1, 2009, this Order to Cease and Desist became final against Mr. Bibb. Despite the finality of this order against him, the Department discovered earlier this year that Mr. Bibb continued to work in the Georgia residential mortgage industry in direct violation of the final Order to Cease and Desist and state law.   

Pursuant to the terms of the Final Consent Order issued by the Cherokee County Superior Court, Mr. Bibb is enjoined from:

  • violating further the Order to Cease and Desist of the Department that became final on December 1, 2009;
     
  • operating as a mortgage lender or mortgage broker or being employed in any capacity by a Georgia mortgage lender or Georgia mortgage broker, including, but not limited to, as a mortgage loan originator, until after he has obtained the appropriate mortgage license(s) from the Department, which he cannot apply for before December 1, 2014; and
     
  • soliciting, processing, placing, or negotiating primary Georgia residential loans via the internet or otherwise until after he has obtained the appropriate mortgage license(s) from the Department, which Mr. Bibb is precluded from applying for until after December 1, 2014.

 

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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