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Georgia Lender Loses License for Violating Mortgage Act

Thursday, July 26 2007 05:38

Homequest Financial Services, Inc., License Number 17517, 655 Village Square Drive, Stone Mountain, Georgia, and its president, Anthony Brewer, entered into a Consent Order with the Georgia Department of Banking and Finance to resolve allegations pertaining to violations of the Georgia Residential Mortgage Act and agency rules. The Office of State Administrative Hearings approved a Consent Order. Among the terms of the Consent Order are that:

• The revocation of Homequest's mortgage broker's license is effective as of March 29, 2007. Homequest can never apply to the Department for another license to be a mortgage broker or mortgage lender;

Homequest agreed not to accept any new loan applications after February 16, 2007, and will cease all of its remaining residential mortgage broker activities in Georgia by no later than April 16, 2007;

Anthony Brewer is prohibited from directing the affairs of a mortgage broker or mortgage lender, as defined by the Georgia Residential Mortgage Act, or from acting as a director, officer, partner, agent, employee, or equitable owner or any other equivalent role for a mortgage broker or mortgage lender for three years from the date of entry of the Consent Order; and

Anthony Brewer is prohibited from applying for a mortgage broker’s or mortgage lender’s license, either in his individual capacity or as the owner or officer of a corporation, partnership, limited liability company, or other business association,

for three years from the date of entry of the Consent Order.

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Rachel Dollar 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.
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