Georgia Department of Banking and Finance's Order to Cease and Desist Issued to Bobby Slocumb d/b/a Success Mortgage d/b/a Success Processing d/b/a Success Financial Services Becomes Final

June 16, 2010


Atlanta, Georgia — On June 15, 2010, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Bobby Slocumb d/b/a Success Mortgage d/b/a Success Processing d/b/a Success Financial Services located in Macon, Georgia became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Bobby Slocumb d/b/a Success Mortgage d/b/a Success Processing d/b/a Success Financial Services engaged in residential mortgage brokering/lending 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 to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others without a mortgage license or pursuant to an exemption from licensure.

Furthermore, 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 from 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 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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