The Treasury Department’s Financial Crimes Enforcement Network recently put out final regulations that extend anti-money laundering program requirements and Suspicious Activity Report filing requirements to nonbank mortgage lenders. This means that nonbank mortgage lenders and originators are going to have to set up AML programs, assign a compliance officer and develop training programs, legal experts say, and compliance will be complex and costly. “Today, FinCEN is closing a regulatory gap by requiring nonbank mortgage lenders and originators to develop anti-money ...