Compilation of Rules and Regulations of the State of Georgia
Department 80 - RULES OF DEPARTMENT OF BANKING AND FINANCE
Chapter 80-11 - RESIDENTIAL MORTGAGE BROKERS, LENDERS AND ORIGINATORS
Subject 80-11-6 - MORTGAGE SERVICING
Rule 80-11-6-.03 - Mortgage Servicer Location Requirements and Minimum Retention Periods

(1) Each servicer must maintain required books, accounts, and records at the principal place of business. Should a servicer wish to maintain such records elsewhere, it must notify the department in writing prior to said books, accounts, and records being maintained in any place other than the designated principal place of business. Such notification shall be submitted to the Department of Banking and Finance, 2990 Brandywine Road, Suite 200, Atlanta, Georgia 30341.

(2) Books, accounts, and records maintained at a location other than the principal place of business shall be made available to the department within five (5) business days from the date of written request by the department and at a reasonable and convenient location acceptable to the department.

(3) "Principal place of business" means the location designated as the main office by the licensee in the initial written application for licensure or as amended thereafter in writing to the department.

(4) All books, accounts, and records required by Rule 80-11-6-.04(1)(a) must be maintained in accordance with Rule 80-11-2-.01(4). All books, accounts, and records required by Rule 80-11-6-.04(1)(b) must be maintained for a period of five (5) years after the date a mortgage loan is discharged or servicing rights for a mortgage loan are transferred by the servicer to a transferee servicer or otherwise terminated.

(5) Any books, accounts or records required to be maintained by Rule Chapter 80-11-6 of the Rules of the Department of Banking and Finance may be maintained in their original form, on microfiche or other electronic media, provided:

(6)