John Bollman has been named executive vice president and manager of the Retail Production Division of National City Mortgage, Miamisburg, Ohio.Mr. Bollman replaces Buck Bibb, who was named chief executive officer of the company earlier this year. Mr. Bollman joined National City Corp. in 1996 as a result of the Integra Mortgage acquisition, where he was senior vice president of secondary marketing. He has held various positions at the vice president and senior vice president levels since then, National City said. Since 2004, Mr. Bollman has held the position of executive vice president of the NCM Advantage, a major loan origination initiative. The company can be found on the Web at http://www.nationalcitymortgage.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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