On March 2, 2007, the Georgia Department of Banking and Finance (“Department”) entered into a Consent Order with Challenge Financial Investors Corporation (“Challenge”), License Number 15790, located at 360 Central Avenue, Suite 600, St. Petersburg, Florida, to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules.
Pursuant to the terms of the Consent Order:
The revocation of Challenge’s mortgage lender’s license is effective as of March 2, 2007. Challenge cannot apply to the Department for another mortgage lender’s license or a mortgage broker’s license for at least three (3) years;
Challenge cannot accept any new loan applications after March 2, 2007, and will cease all of its remaining residential mortgage lender activities in Georgia by no later than April 15, 2007;
A fine in the amount of $193,000.00 has been paid by Challenge to the Department; and
Challenge is required to handle in a professional manner all complaints that may be made with respect to any residential mortgage loans that it has handled in Georgia.
This Consent Order is effective immediately.


Rachel Dollar, the editor of Mortgage Fraud Blog is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors.