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Some Banks Go Overboard On Background Checks Of Mortgage Originators

Tuesday, October 30, 2012 - 3:57 PM
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.
Ken TuminKen Tumin5,472 posts since
Nov 29, 2009
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