National industry appointments update - 06/30/2006

Jul 09, 2006

Harbourton agrees to purchase Molton, Allen and WilliamsMortgagePress.comHarbourton Mortgage Investment Corporation, Molton, Allen and Williams Harbourton Capital Group Inc. has entered a definitive agreement to purchase all outstanding membership interests of Molton, Allen and Williams Mortgage Company LLC (MAW). After Harboutron acquires all membership interests in MAW, it intends to merge MAW with and into a wholly owned subsidiary, Harbourton Mortgage Investment Corporation (HMIC). The transaction, which is subject to Harbourton's completion of due diligence, receipt of regulatory approvals and other customary conditions, is expected to close in the third quarter. Harbourton Capital Group Inc. is the financial holding company for Harbourton Financial Corporation and HMIC, based in McLean, Va. For more information, call (703) 883-9757. Molton, Allen and Williams is a privately held mortgage banking company based in Fairfax, Va. For more information, call (800) 529-5205 or visit www.mawmortgage.com.

About the author

National Mortgage Professional

Link copied

Published

Jul 09, 2006

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....