The Georgia Commissioner of Banking and Finance may take which of the following enforcement actions against a licensee who violates the GRMA without first holding a formal hearing?
Correct Answer
B) Issuance of a cease and desist order
The Commissioner may issue a temporary cease and desist order without a prior hearing when the Commissioner determines that immediate action is necessary to protect the public.
Why This Is the Correct Answer
The Commissioner may issue a temporary cease and desist order without a prior hearing when the Commissioner determines that immediate action is necessary to protect the public.
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A Florida mortgage servicer receives a qualified written request (QWR) from a borrower. Under the Mortgage Lender Servicer Act and federal law, the servicer must acknowledge receipt within:
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