The Georgia Department of Banking and Finance issued two Cease and Desist Orders to two separate entities. These orders have become final.
These Cease and Desist Orders were issued by the Department after it obtained evidence that Real Estate Services Conglomerate, dba RESCOG, and that Eric Joyce, dba Bear Creek Home Lending, engaged in mortgage brokerage/lending activities without a license or under an applicable exemption.
Pursuant to Georgia law, it is 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 to engage in mortgage broker/lender activities.
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.