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Lending / The Ticker

Georgia bars Alexander Financial from mortgage brokering and originating

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On January 28, 2013, an Order to Cease and Desist issued by the Georgia Department of Banking and Finance to Alexander Financial Group, Inc. located at 4319 Covington Highway, Suite 302 Decatur, GA 30035 became final.

This Order to Cease and Desist was issued by the Department after it obtained evidence that Alexander Financial Group, Inc. engaged in residential mortgage brokering and/or originating activities without a license.

Pursuant to Georgia law, it is prohibited for any person to directly or indirectly solicit, process, place, or negotiate mortgage loans for others, or offer to solicit, process, place, or negotiate mortgage loans for others without a mortgage license or pursuant to an exemption from licensure.

It is also 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.

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