The state Department of Banking and Finance revoked the mortgage broker's license of BDK Mortgage and Investments Inc., located at 201 Tallman Drive in Martinez, according to information released today.
BDK owners Jackie H. Spires and James Spires allegedly violated the Georgia Residential Mortgage Act and agency rules by purposefully making false statements or material representations to the department.
They also are accused of transacting "business with and directly or indirectly controlling a person who is unlicensed and unregistered and who is not exempt from licensing or registration requirements," according to the press release.
The BDK mortgage broker license was revoked on Wednesday and the company is banned from applying for another license to be a mortgage broker or mortgage lender. Also on Wednesday, the department revoked the mortgage loan originator's license of Jackie H. Spires.
The company will be allowed to close or complete work on loans that have been originated as of Wednesday as long as those loans are closed or completed within 60 days.