Department Revokes Mortgage Loan Originator License of Christopher Darren Crosby

September 17, 2014

Atlanta, Georgia — On September 12, 2014, the Georgia Department of Banking and Finance’s (“Department’s”) Amended Notice of Intent to Revoke Mortgage Loan Originator’s License and Order to Cease and Desist (“Notice and Order”) issued to Christopher Darren Crosby became final.

The Notice and Order provided that during an examination of Cornerstone Mortgage Company d/b/a Brayden Capital Home Loans, the Department obtained evidence that Mr. Crosby made false statements or material misrepresentations to the Department in violation of O.C.G.A. § 7-1-1013(11); transacted business with a person who is unlicensed, not exempt from licensing requirements; and directly or indirectly controlled a person who violated O.C.G.A. § 7-1-1002. 

Mr. Crosby failed to appear at a hearing scheduled on August 13, 2014.  The Department proffered the following:  Mr. Crosby failed to disclose his affiliation with three businesses on branch manager and mortgage loan originator applications submitted to the Department; Mr. Crosby owned and controlled Brayden Capital, LLC, the recipient of an Order to Cease and Desist that is a final order of the Department; and, Mr. Crosby had been placed on the exclusionary list of the Federal Home Loan Mortgage Corporation (“Freddie Mac”).

In a Final Order of the Department the Notice and Order were upheld revoking the mortgage loan originator license of Mr. Crosby and making final the Order to Cease and Desist issued to him. 

Pursuant to O.C.G.A. § 7-1-1004, 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 conducting mortgage business with an unlicensed person or committing prohibited acts.

Further, pursuant to the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“S.A.F.E. Act”), for an individual to be eligible for a mortgage loan originator license a state must require and find that an individual has never had a loan originator license revoked in any governmental jurisdiction.

Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371


The Department is the state agency that regulates and examines Georgia state-chartered banks, state-chartered credit unions, and state-chartered trust companies. The Department also has responsibility for the supervision, regulation, and examination of Merchant Acquirer Limited Purpose Banks (MALPBs) chartered in Georgia.  In addition, the Department has regulatory and/or licensing authority over mortgage brokers, lenders and processors, mortgage loan originators, check cashers, seller of payment instruments, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.