Skip to main content

Interthinx Zeroes in on Mortgage Fraud and CFPB at National Risk Summit

NationalMortgageProfessional.com
Aug 29, 2013

Interthinx recently hosted its annual National Risk Summit in Avon, Colo., an event created to promote open discussion about the risks and challenges of the current marketplace. Organized along multiple tracks, including mortgage fraud, compliance/quality control, and retail lending, the National Risk Summit format encouraged attendees to individualize their learning experience. Jack Konyk, executive director of government affairs at Weiner Brodsky Kider PC, delivered the keynote address on the Consumer Financial Protection Bureau's (CFPB) recent enforcement actions. "From the mortgage fraud track, it was clear that preparing underwriters for the switch from a predominantly refinance market to a predominantly purchase market is a top concern," said Ann Fulmer, Interthinx vice president, industry relations. "Leading current fraud trends for lenders are occupancy and property valuation, as well as fear that fraud levels will rise and new fraud types will emerge, along with the market's recovery." "The compliance/quality control track at the Risk Summit revealed significant interest in and concern with vendor oversight rules, which are expected to create far-reaching consequences for lenders, servicers, and their vendors," said Roger Fendelman, Interthinx vice president, compliance. "Other top-of-mind concerns include compliance management and qualified mortgage calculations." "On the retail lending front, among the top challenges bank lenders face today are external regulatory compliance and internal model validation acceptance," said Mike Smith, Interthinx chief technology officer/chief architect. "Accurate, transparent tools and technology are critical to guide lenders through this constantly evolving regulatory and compliance landscape. It's also critical to find the right balance to grow and expand the business in a controlled environment while managing the risk appetite and return on capital for the overall portfolio." Key sessions from the Interthinx Risk Summit included Consumer Financial Protection Bureau (CFPB) Enforcement Actions, Current Mortgage Fraud Trends, a CFPB Vendor Oversight Workshop, Regulatory Perspectives on Forecasting and Stress Testing Models, and Best Practices to Prepare for Internal or Regulatory Reviews. "More than ever, lending professionals know they need relevant and reliable risk management insight to remain competitive and compliant," said Jeff Moyer, president of Interthinx. "Interthinx has a tradition of prioritizing industry education as a core component of its mission statement, and it was with that idea in mind that we developed this year's National Risk Summit agenda around three distinct themes in lending today."
Published
Aug 29, 2013
Fannie Mae Names Almodovar Its New CEO

Financial services veteran brings more than 30 years experience and a strong commitment to affordable housing.

Regulation and Compliance
Sep 29, 2022
OCC Fines Sterling Bank & Trust $6M Over Mortgage Fraud

Bank, parent company remain under criminal investigation by Justice Department and SEC.

Regulation and Compliance
Sep 27, 2022
Federal Court Shutters Sham Mortgage Relief Operation

FTC, California agency accuse 2 business owners of scam that cost consumers millions of dollars.

Regulation and Compliance
Sep 22, 2022
CFPB Seeks Input On Creating New Mortgage Products

Agency seeks information on refinances, mortgage products to promote competition and support household financial stability.

Regulation and Compliance
Sep 22, 2022
The Fed Raises Interest Rate 0.75% For The 3rd Time

Chairman said housing market may have to go through "a correction" to return to balance.

Regulation and Compliance
Sep 21, 2022
Fed Committee Gathers To Renew Inflation Fight

FOMC expected to announced 0.75% rate hike after 2-day meeting ends Wednesday.

Regulation and Compliance
Sep 20, 2022