Some Banks Go Overboard On Background Checks Of Mortgage Originators

This Houston Chronicle article shows how banks can go overboard in implementing tougher standards for mortgage loan under-writers. New federal regulations put in place after the financial crisis require banks do a criminal background check for anyone who works as a mortgage originator. In the case described by the article, a Bank of America investment banker lost his job due to a background check that found he had an old arrest in which charges had been dismissed.