Georgia Department of Banking and Finance Enters into a Consent Order with Gregory Parnell

August 9, 2011


Atlanta, Georgia - On August 8, 2011, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Gregory Parnell, Nationwide Mortgage Licensing System (“NMLS”) number 241094, located in Atlanta, Georgia to resolve allegations pertaining to violations of O.C.G.A. § 7-1-1013(1), (2) and (6) of the Georgia Residential Mortgage Act, including making false statements or misrepresenting facts to lenders.

The terms of the Consent Order include:

  • For a five-year period, Gregory Parnell may not serve as a branch manager or direct the affairs or act as a director, officer, partner, equitable owner, or any other equivalent role of a Georgia mortgage broker or Georgia mortgage lender licensee.   During this same time frame, Mr. Parnell is also prohibited from applying for a mortgage broker’s or lender’s license.
  • Within 90 days, Gregory Parnell shall attend in-person, and successfully complete, four (4) hours of mortgage fraud education in the areas of mortgage fraud detection and mortgage fraud prevention.
  • Gregory Parnell shall maintain a complete and current journal of all Georgia residential mortgage loan transactions originated.
  • Gregory Parnell shall contribute $1,500 to the State Regulatory Registry, LLC to support the NMLS.

 

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/

 

Related Files: 
PDF icon Consent Order (246.72 KB)