Georgia Department of Banking and Finance Obtains a Court Order against Michael Surgent to Prohibit Him from Continuing to Violate an Order to Cease and Desist

January 6, 2011


Atlanta, Georgia -
On January 3, 2011, Cobb County Superior Court issued a Final Order and Judgment enjoining Michael Surgent from further violation of an Order to Cease and Desist issued to him by the Georgia Department of Banking and Finance (“Department”).

The Department issued an Order to Cease and Desist to Mr. Surgent after evidence was obtained that he was engaging in residential mortgage activities without a license or pursuant to an exemption from licensing laws. This Order to Cease and Desist became final on September 9, 2009. The Department subsequently learned that Mr. Surgent violated the Order to Cease and Desist by continuing to engage in licensed mortgage activities, including soliciting or negotiating mortgage loan modifications or offering to solicit or negotiate mortgage loan modifications on behalf of Georgia citizens. 

On August 11, 2010, the Department filed an action in Cobb County Superior Court to obtain a court order to prevent Mr. Surgent from further violation of this agency’s Order to Cease and Desist. In the resulting Final Order and Judgment that was issued, Cobb County Superior Court expressly found Mr. Surgent to be in violation of the Department’s Order to Cease and Desist and ordered him to comply with its terms.

Failure to comply with the Department’s Order to Cease and Desist and the Court’s Final Order and Judgment may result in additional legal action being pursued against Mr. Surgent.

 

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/

Related Files: