Recommendations For Best Practices

 MORTGAGE BROKER/PROCESSOR and MORTGAGE LENDER LICENSEES

• As respective state laws allow, implement policies and procedures to conduct periodic criminal background checks to ensure current employees have not become ineligible per O.C.G.A. Section 7-1-1004h while employed.

• Implement policies and procedures to conduct periodic checks of employees on NMLS Consumer Access for ineligibility per O.C.G.A. Section 7-1-1004(p).

• Ensure a process is in place that allows for compliance personnel to review any advertisements to be disseminated in Georgia for compliance with advertising and Georgia trade name laws and regulations.     

• Implement processes and procedures to ensure applicable personnel are familiar with the GRMA $10-per-loan fee, remittance requirements, and payment portal.  A FAQ is available here: https://dbf.georgia.gov/georgia-residential-mortgage-act-grma-faq

• Implement procedures and processes to frequently check for changes to applicable Georgia law and to Department Rules and Regulations.  The Department will post information concerning proposed rules changes on the Department's website at:  https://dbf.georgia.gov