J. Brian King has been named practice manager for the consumer lending and mortgage banking practice of BenchMark Consulting International, Atlanta.Mr. King was most recently a national sales manager at a division of Wolters Kluwer Financial Services. Before that, he served as senior vice president of sales and business development at Info-One/VARDS, a wholly owned subsidiary of Wachovia Corp. Mr. King was previously senior vice president of business development at Wachovia Bank, and director of product development and marketing at Home Equity USA, a division of FleetBoston Financial. BenchMark can be found online at http://www.benchmarkinternational.com.
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The Consumer Financial Protection Bureau has finalized changes to Regulation B, which implements the Equal Credit Opportunity Act, to eliminate any liability for indirect discrimination by lenders. The change represents a major shift in how the agency polices lending discrimination.
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The company will be using a simplified name and a new logo it says shows its unified business model, but its longstanding tagline will stay in place.
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The investment property owner says she was stonewalled and humiliated by BofA's loan officers, and that an error-riddled appraisal was short by over $70,000.
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An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.
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The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.
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Federal Reserve Gov. Christopher Waller said certain corporate functions at the 12 regional banks, including information technology and human resources, could be consolidated under one structure to increase standardization and reduce costs.
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