George Deehan, president of Sunset Financial Resources Inc., Jacksonville, Fla., has been named to the additional post of chief executive officer of the real estate investment trust, and Rodney Bennett has been named chairman of the REIT.Mr. Deehan, 63, who was recently named president and chief operating officer of the REIT, succeeds Bert Watson, who has resigned as CEO and as chairman of the board, Sunset Financial reported. Mr. Bennett, 64, has been a director of Sunset Financial since 2003. The REIT also announced that Charles Wolcott, president and CEO of Recon Corp., has been named to Sunset Financial's board. The company can be found on the Web at http://www.sunsetfinancial.net.
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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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