Banking And Finance

Businesses cited for unlicensed mortgage brokering

by The Associated Press

ATLANTA (AP) — The Georgia Department of Banking and Finance has issued cease and desist orders to two metro Atlanta businesses for brokering mortgages without valid licenses.

Officials Thursday issued the orders to Home Service Realty, based in Lawrenceville, and Citywide Financial Group Inc., based in Woodstock. Authorities say the businesses are violating the Georgia Residential Mortgage Act and have 30 days to either show proof of licensing or prove they are exempt from having licenses.

Calls to Home Service Realty and Citywide Financial Group Inc. were not immediately returned. Both businesses are registered with the Georgia Secretary of State.

Rod Carnes, Department of Banking and Finance spokesman, says the department finalized 66 cease and desist orders issued to businesses brokering mortgages without a license in 2012.

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