Georgia Department of Banking and Finance's Order to Cease and Desist Issued to Coastal States Mortgage Corporation Becomes Final

May 13, 2011


Atlanta, Georgia — On May 9, 2011, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Coastal States Mortgage Corporation (NMLS# 171747) located at 600 Corporate Drive, Suite 620, Fort Lauderdale, Florida 33334 became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Coastal States Mortgage Corporation engaged in residential mortgage 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 make, originate, underwrite, or purchase mortgage loans or service mortgage loans without a mortgage license or pursuant to an exemption from licensure.

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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