Sentences with phrase «nonbank residential»
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.
https://www.nar.realtor/
FinCEN noted that this requirement will close a regulatory gap, as well as mitigate some of the money laundering risks and vulnerabilities that have been exploited in the nonbank residential mortgage sector.
Not exact matches
The company is working specifically with nonbank lenders providing capital to buyers of residential buildings that aren't owner - occupied.