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Home » Store » Taxable » Multi-Channel Firms Exposed to Full Fair Lending Audits, Fed Says

Multi-Channel Firms Exposed to Full Fair Lending Audits, Fed Says

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Mortgage lenders with multiple loan origination channels, particularly wholesale operations, should expect a full fair lending compliance review if any of those channels show pricing disparities based on 2004 Home Mortgage Disclosure Act data, federal banking regulators warned. Pricing disparities that involve indirect loans, such as those generated by mortgage brokers and correspondents or purchased from unaffiliated third-party originators, will be subject to closer scrutiny, said the Federal Reserve Board in its analysis of…
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