Compliance & Regulation

Will the Consumer Financial Protection Bureau hold the loan officer liable?

Although many borrowers have been lifted above water on their mortgages due to rising house prices, there are reasons to be skeptical that this will generate much additional spending.

Matthew Sweet, the former vice president and controller of One Bank & Trust, allegedly abused his position at the bank to steal approximately $75,000.

A pre-approval letter should come from a major lender and not some “no name” mortgage broker.

Total household indebtedness rose by $127 billion in 3Q13 from the prior quarter, mostly due to rising balances on mortgages, student loans and auto loans.

Stonegate Mortgage Corp. executives credit the nonbank’s differentiated mortgage banking platform and their “solid business execution” practices for mitigating risk despite revenue declines amid rising interest rates.

With the new compliance requirements and rules from government entities including the Consumer Finance Protection Bureau, we have now stepped into the age of a new normal.

The companies would be acquired in exchange for about $35 billion in GSE preferred stock, and at least $17 billion in additional funds would be raised from preferred holders and a rights offering.

The donation benefits a new financial education program introduced by one of the nation’s largest financial counseling organizations.

The new rules will result in underwriters placing additional scrutiny on these applicants.