3 Owners Required to Surrender Mortgage License for Employing Felons

Allison Tussey —  October 3, 2014 — 2 Comments

Hometown Lenders, LLC, NMLS No. 65084, Huntsville, Alabama, and its owners, William E. Taylor, Jr., William E. Taylor, Sr. and Byron Heath Quick entered into a consent order with the Georgia Department of Banking & Finance to resolve allegations that they employed two felons and transacted business with an unlicensed mortgage processing company.

The Consent Order was entered to resolve a Notice of Intent to Revoke and Orders to Cease and Desist issued to Hometown Lenders and its owners for employing two felons and transacting business with an unlicensed mortgage processing company.

Pursuant to O.C.G.A. § 7-1-1004(h), Georgia mortgage brokers and mortgage lenders are prohibited from employing convicted felons.  Department Rule 80-11-4-4.08 further provides that no person employed by or directing the affairs of any licensee may be a convicted felon and that it is the licensee’s responsibility to ensure compliance.  Failure to comply is a revocable offense and subjects the licensee to a fine of $5,000 per felon.

Hometown Lenders, accordingly, has been ordered to surrender its mortgage lender license and pay fines in the amount of $24,000 to the Department for its failure to abide by Georgia law.

Furthermore, Hometown Lenders’ owners, William E. Taylor, Jr., William E. Taylor, Sr. and Byron Heath Quick were ordered to not direct the affairs or act as a branch manager of a Georgia mortgage broker or mortgage lender for a period of five (5) years.

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Allison Tussey

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2 responses to 3 Owners Required to Surrender Mortgage License for Employing Felons

  1. Since when do mortgage brokers/lenders care about laws??

  2. Thank you for the information Mortgage Fraud!

    Pursuant to O.C.G.A. § 7-1-1004(h), Georgia mortgage brokers and mortgage lenders are prohibited from employing convicted felons. Department Rule 80-11-4-4.08 further provides that no person employed by or directing the affairs of any licensee may be a convicted felon and that it is the licensee’s responsibility to ensure compliance. Failure to comply is a revocable offense and subjects the licensee to a fine of $5,000 per felon.

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