Missouri industry appointments update - 5/15/2007

May 14, 2007

Brooks Systems part of Freddie Mac and ABA allianceMortgagePress.comFreddie Mac and ABA Brooks Systems LLC has been selected to be a major contributing part of a renewed alliance between Freddie Mac and the American Bankers Association, allowing many more lenders to utilize its automated mortgage solutions and helping them to maintain compliance standards. Brooks Systems LLC is a provider of mortgage compliance solutions to the residential finance industry, with offices in New London, Conn. and Norfolk, Va. For more information, call (866) 932-2252 or visit www.brookssystems.com.

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May 14, 2007

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....