John Chase has been named senior vice president and chief financial officer of GoApply Inc., an online mortgage and financial services company based in Aliso Viejo, Calif.Mr. Chase was most recently CFO of Power Measurement, a high-tech energy management company. He has more than 25 years of experience in financial and strategic business management, including a stint as director of finance for Amazon.com. GoApply can be found on the Web at http://www.goapply.com.
The company that the global firm is investing in owns a U.S. mortgage correspondent business and another domestic lender that does business with brokers.
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.
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.
An independent auditor raised "substantial doubt" about the company's viability as it may not be able to extend forbearance deadlines on massive debts.
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.
The new law adds rules, including counseling requirements, which would put severe constraints on originations of HEIs, an industry representative said.
