Department of Banking and Finance’s Order to Cease and Desist Issued to Liberty One Mortgage Becomes Final

June 22, 2015

Atlanta, Georgia — On June 8, 2015, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Liberty One Mortgage located at 11012 Ventura Boulevard, Suite 68, Studio City, California 91604, became final.

The Order to Cease and Desist was issued by the Department after it obtained evidence that Liberty One Mortgage engaged in residential mortgage brokering and/or originating 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 solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others without a mortgage license or pursuant to an exemption from licensure.

It is also prohibited for any person knowingly to purchase, sell, or transfer a mortgage loan or loan application from or to an entity that is not licensed or exempt from licensing or registration provisions.
 

Contact
Rod Carnes
Deputy Commissioner for Non-Depository Financial Institutions
Phone: (770) 986-1371
E-mail: rodc@dbf.state.ga.us