In addition to such other rules, regulations, and policies as the department may promulgate to effectuate the purpose of this article, the department shall prescribe regulations governing the advertising of mortgage loans, including, without limitation, the following requirements:
History. Code 1981, § 7-1-1016 , enacted by Ga. L. 1993, p. 543, § 1; Ga. L. 1994, p. 570, § 11; Ga. L. 2002, p. 1220, § 13; Ga. L. 2007, p. 502, § 38/SB 70; Ga. L. 2009, p. 252, § 1/HB 312; Ga. L. 2016, p. 390, § 6-1/HB 811; Ga. L. 2020, p. 320, § 22/HB 781; Ga. L. 2020, p. 493, § 7/SB 429.
The 2020 amendments. —
The first 2020 amendment, effective January 1, 2021, added “and” at the end of paragraph (1)(B); in paragraph (2), substituted “which shall conform to a name on record with the department, and” for “license number, Nation-wide Multistate Licensing System and Registry” and “which shall clearly indicate that the number was issued by the Nationwide Multistate Licensing System and Registry, of the licensee or registrant.” for “and an office address of such licensee or registrant, which shall conform to a name and address on record with the department; and”; and deleted former paragraph (3), which read: “No mortgage broker or mortgage lender licensee shall advertise its services in Georgia in any media disseminated in this state, whether print or electronic, without the words ‘Georgia Residential Mortgage Licensee’ or, for those advertisers licensed in more than one state, a listing of Georgia as a state in which the advertiser is licensed.” The second 2020 amendment, effective July 29, 2020, part of an Act to revise, modernize, and correct the Code, substituted “Nationwide Multistate Licensing System and Registry” for “Nation-wide Multistate Licensing System and Registry” in paragraph (2). See Editor’s notes.
Editor’s notes.
Ga. L. 2020, p. 493, § 54(e)/SB 429, not codified by the General Assembly, provides: “In the event of a conflict between a provision in Sections 1 through 53 of this Act and a provision of another Act enacted at the 2020 regular session of the General Assembly, the provision of such other Act shall control over the conflicting provision in Sections 1 through 53 of this Act to the extent of the conflict.” Accordingly, the amendment to paragraph (2) of this Code section by Ga. L. 2020, p. 493, § 7(20)(V)/SB 429, was not given effect.
Structure Georgia Code
Chapter 1 - Financial Institutions
Article 13 - Licensing of Mortgage Lenders and Mortgage Brokers
§ 7-1-1003. Applications for Licenses
§ 7-1-1003.2. Financial Requirements for Licensing and Registration; Bond Requirements
§ 7-1-1003.3. Application for Registration
§ 7-1-1003.5. Nationwide Multistate Licensing System and Registry
§ 7-1-1003.6. Privileged or Confidential Nature of Information; Exception
§ 7-1-1004.1. Reports of Condition
§ 7-1-1004.2. Licensees’ Ability to Challenge Information
§ 7-1-1005. Renewal of Licenses and Registrations; Expiration
§ 7-1-1010. Annual Financial Statements
§ 7-1-1012. Rules and Regulations
§ 7-1-1013. Prohibition of Certain Acts
§ 7-1-1014. Regulations Governing Disclosure Required to Applicants for Mortgage Loans
§ 7-1-1015. Rules Relative to Escrow Accounts
§ 7-1-1016. Regulations Relative to Advertising
§ 7-1-1018. Cease and Desist Orders; Enforcement Procedure; Civil Penalty; Fines
§ 7-1-1019. Criminal Penalties
§ 7-1-1021. Regulations Governing Lock-in and Commitment Agreements