In the following press release the Georgia Department of Banking and Finance’s (“Department’s”) announced that its November 12, 2008 Order to Cease and Desist issued to Hortense Thompson of Stone Mountain, Georgia, became final.

Ms. Thompson was issued an Order to Cease and Desist by the Department for making misrepresentations in loan files submitted to mortgage lenders in violation of O.C.G.A. § 7-1-1013(1); for misrepresenting or concealing information concerning mortgage transactions in violation of O.C.G.A § 7-1-1013(2); and, for engaging in a course of business not in good faith in violation of O.C.G.A. § 7-1-1013(6). This occurred when Ms. Thompson was employed as a loan officer for HomeLoans, USA, a mortgage broker that had its license revoked by the Department.

Pursuant to state law that was in effect when the violations underlying the Order to Cease and Desist were committed, the Department may revoke the license of a mortgage broker or lender that employs an individual against whom a final Order to Cease and Desist has been issued within the preceding three years if the Order resulted from misrepresentations being made in loan documents.