Department’s Order to Cease and Desist Issued to Bonanza Mobile Homes and Construction LLC Becomes Final

August 23, 2017

Atlanta, Georgia — On August 23, 2017, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance (“Department”) to Bonanza Mobile Homes and Construction LLC, located at 209 Soperton Avenue, East Dublin, Georgia 31027, became final.

The Order to Cease and Desist was issued by the Department after it obtained evidence that Bonanza Mobile Homes and Construction LLC, 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: rcarnes@dbf.state.ga.us