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Mortgage tech firm TRAiNED hires two executives from Sales Boomerang

Housing Wire

Mortgage tech firm TRAiNED Inc. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. In 2017, Cunningham, de Jong and three others founded Sales Boomerang, an automated borrower intelligence and retention system for the mortgage industry.

Training 421
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loanDepot VP Brian Covey moves to Revolution

Housing Wire

Covey, who announced the change Monday via a LinkedIn post , joined loanDepot in 2018 and led the sales teams in Tennessee, Alabama, Mississippi and Louisiana, recruiting and training more than 200 sales and operations team members. He also provided training to loan originators. billion in 2021. “…we

Training 397
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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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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. He joined the company as the quality control manager in July 2017. Prior to this, he worked in various roles, including loan originator, processor and underwriter.

Mortgage 397
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Wells Fargo pays $96M to settle LO comp lawsuit

Housing Wire

Wells Fargo “failed to pay plaintiff and class members for all hours worked, including but not limited to, mandatory meetings, loan processing, training and coaching sessions, loan tracking, customer surveys, attending open houses, attending events and galas, and working on certain nights or weekends,” Kang’s complaint, filed in 2017, said.

Legal 466
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Flagstar to pay $3.6M over flood insurance violations

Housing Wire

The consent order states that between a three-year period – from February 2017 through February 2020 – the bank’s risk assessment, internal controls, and training led to various violations. NYCB had essentially exited the residential mortgage banking business in 2017 after selling its origination and servicing platforms.

Insurance 384
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OneMain Financial to pay $4.25 million to New York State over cybersecurity lapses

Housing Wire

The consent order stemming from the settlement also details instances where DFS identified lapses in application security, cybersecurity personnel and intelligence training as well as specific cybersecurity events that took place between 2017 and 2020.