Sentences with phrase «nonbank originators»
«The major proponents of the alternative credit scoring model are large nonbank originators and credit reporting firms — companies that make their living from the quantity of loans they originate, not the quality.
http://www.fico.com/ Not exact matches
On February 7, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury released a final rule that subjects nonbank residential mortgage lenders and originators to certain anti-money laundering (AML) regulations already applicable to other types of financial institutions.
Under the new regulations, nonbank lenders and originators will be required to establish anti-money laundering programs and file suspicious activity reports (SARs).
«The bill also includes a change to the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act of 2008 that would allow loan originators to move from a bank to a nonbank and keep originating new mortgages without having to wait for a new license.»