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Waterstone Mortgage promotes Rico Garcia to VP

Housing Wire

In addition, he will work with other teams to lead cross training and improve communication with both internal and external customers. Garcia’s professional career spans more than two decades in the mortgage lending industry, with more than five years at Waterstone Mortgage.

Mortgage 366
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CFPB issues consent order against Washington Federal for HMDA reporting violations

Housing Wire

The bank will pay a $200,000 fine for reporting inaccurate HMDA data in 2016 and 2017 — with error rates up to 40% in some cases, according to the CFPB. Washington Federal reported HMDA data for over 7,000 mortgage applications in each of 2016 and 2017, many of which contained data error rates reaching nearly 40%.

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OneMain Financial to pay $4.25 million to New York State over cybersecurity lapses

Housing Wire

OneMain, which specializes in nonprime lending, “failed to effectively manage user access privileges to Information Systems that provide access to non-public information from its customers,” DFS said in its announcement of the settlement.

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Interfirst to lay off 140 employees

Housing Wire

Presented by: Acra Lending. The company reduced its origination to $2 billion in 2016 before shutting down altogether in 2017. Interfirst boasted of its ability to train people with no background in mortgage through a rigorous training course.

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Interfirst Mortgage to lay off nearly 50 LOs

Housing Wire

To run the hub, the company hired Casey Nunn, a former Rocket Mortgage and Homepoint executive, as the vice president of wholesale lending. In 2017, after years of plummeting volumes, the company, led by CEO Dmitry Godin, decided to shutter its business, only to relaunch in 2020. Interfirst, which claimed to have originated $1.65

Mortgage 363
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People movers: Home Point Financial, Zumper, Total Expert and NAR

Housing Wire

Before he joined Home Point Financial, Hilzendeger was at Wells Fargo for 30 years, most recently with Wells Fargo Home Lending , where he led as head of Retail Operations, head of Servicing Operations, senior vice president of Default Services, and senior vice president of Real Estate Servicing.

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Feds seek to enlist real estate agents in anti-corruption push

Housing Wire

FinCEN later published an advisory in 2017 that estimated some 30% of transactions covered by the GTOs “have a nexus to … suspicious activity,” according to the agency’s recent advanced notice of proposed rulemaking. . “The