Any organization seeking to adopt appropriate operational risk management policies and procedures must ensure that they have met the five step process to ensure success. This process focuses on proper governance. It is not enough to simply “check the box” and hope that wire fraud, mortgage fraud and closing fraud never reach the organization. TheContinue reading “Successful Risk Management Requires Proper Top-Down Governance”
Tag Archives: CFPB
Conviction of Attorney and Title Agency CEO for $26 Million Fraud Crime Reinforces Need for Closing Agent Risk Management
According to an article published today in Mortgage Professional America, the former CEO of LandCastle Title, who also served as the managing partner of a real estate law firm, will spend 15 years in federal prison for orchestrating a scheme to bilk his firm out of millions of dollars. Nathan E. Hardwick IV, 53, operatedContinue reading “Conviction of Attorney and Title Agency CEO for $26 Million Fraud Crime Reinforces Need for Closing Agent Risk Management”
If The Table Starts Rockin’, Who’s Gonna Come Knockin’?
One of the biggest concerns that mortgage lenders have had for years is that they send their mortgage funds and collateral security documents to complete strangers who gather together and manage a process where there is no seat for them at the table. Even though the closing of a mortgage loan involves significant sums ofContinue reading “If The Table Starts Rockin’, Who’s Gonna Come Knockin’?”
CFPB: No More Regulation by Enforcement? An Analysis
According to Mortgage Professional America, the acting director of the Consumer Financial Protection Bureau, Mick Mulvaney, recently told industry leaders that the CFPB will no longer practice “regulation by enforcement.” “The regulation by enforcement answer is really simple – we aren’t doing it anymore,” Mulvaney said. “It’s a fairness issue. If you’ve done something forContinue reading “CFPB: No More Regulation by Enforcement? An Analysis”
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