Georgia Department of Banking and Finance's Amended Order to Cease and Desist Issued to PennyMac Loan Corp. and Order to Cease and Desist Issued to PennyMac Loan Services, LLC Become Final

December 2, 2010


Atlanta, Georgia - On November 23, 2010, an Amended Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to PennyMac Loan Corp. became final, as did an Order to Cease and Desist issued to PennyMac Loan Services, LLC. Both PennyMac Loan Corp. and PennyMac Loan Services, LLC are located at 27001 Agoura Road, Calabasas, California 91301.  

These Orders were issued by the Department after it obtained evidence that PennyMac Corp. and PennyMac Loan Services, LLC engaged in residential mortgage brokering/lending activities without a license or under an applicable exemption. 

Pursuant to Georgia law, it is prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan from or to an entity that is not licensed or exempt from licensing or registration provisions to engage in residential mortgage brokering or lending.  

 

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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