The operators of a core net branching company must accept the fact that they need to be responsible for all the people they hire, says Eric Weinstein, chief executive of Carteret Mortgage Corp., Centreville, Va. Speaking at the Innovative Mortgage Origination Council meeting in Chicago, Mr. Weinstein said his company has a decentralized form of management. The people who bring in the revenue should decide how it is best spent, but if they do something wrong, "I am responsible," he said. Carteret operates in multiple states. When asked how the company complies with various state regulations, Mr. Weinstein said it tries to comply with the regulations of the harshest state and the Federal Housing Administration.
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