Compliance & Regulation

The California plan to create a new, tougher state regulatory agency is at the finish line after lawmakers agreed to key exemptions for banks while maintaining strong enforcement measures for payday lenders and other firms.

A Quincy, Mass., real estate broker pleaded not guilty to nine charges, including money laundering and forgery, for what prosecutors say is the theft of $800,000 from deposit checks.

The new reality for investors and originators accounts for forbearances and ability-to-repay.

Party polarization and racial equity issues make it tougher for trade groups to manage internal divisions while ensuring the field supports those who get their hands on the levers of power.

The California Assembly is considering a bill that would require local governments to permit duplexes on parcels now largely restricted to one house, in effect eliminating single-family zoning that dominates in most suburban residential neighborhoods.

The mortgage giants were criticized earlier this month for a plan to charge an "adverse market fee" to protect against losses resulting from the pandemic.

If Trump is reelected, his administration would likely move forward with privatizing Fannie Mae and Freddie Mac and relaxing key rules, while a Joe Biden presidency would likely try to expand homeownership access and borrower protections.

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

The Consumer Financial Protection Bureau says the proposal would increase access to credit, but consumer groups argue that it will encourage lenders to make high-cost loans while protecting them from legal liability.

AFC Gamma also has a pipeline of more than $300 million potential transactions, and its West Palm Beach, Fla., office is in hiring mode.