The Georgia Department of Banking and Finance issued a cease-and-desist order to mortgage lender Yale Mortgage Funding LLC for allegedly engaging in mortgage lending activities without a license.
Additionally, the Department reported that ESS Solutions acquired City Mortgage in April 2014 and changed its name to i3 Lending. The Department did not approve the use of a trade name for City Mortgage and therefore, cited it with operating without a mortgage origination license.
The Georgia Department of Banking and Finance finalized a cease-and-desist order against Community Legal Center LLC, based in Doraville Georgia.
The order was issued on the basis of evidence that the Community Legal Center was brokering mortgages and originations without a license or proper exemption.
Community Legal Center described it’s services as offering a wide range of commercial and civil legal services, though it features assistance with “real estate and commercial transactions” under main areas of legal practice.
The cease-and-desist order applies only to any mortgage-related activities.
Attorneys licensed in Georgia may negotiate mortgage terms only if the negotiation is part of a separate legal case or matter that the attorney represents the client in, not as a primary service.