In a recent development within the mortgage industry, proposed guidance aims to elevate fraud or misrepresentation from third-party mortgage originators to the highest level of defect by the regulatory agency. This move signals a heightened focus on addressing potential risks and ensuring transparency within the industry.
Key points from the proposed guidance include:
– Elevating fraud or misrepresentation from third-party mortgage originators to the agency’s highest level of defect
– Emphasis on identifying and addressing potential risks in the mortgage origination process
– Stronger focus on transparency and accountability within the industry to protect consumers and uphold ethical standards.
You can read this full article at: https://www.housingwire.com/articles/fha-seeks-mortgage-defect-taxonomy-changes-for-cases-of-fraud-misrepresentation/(subscription required)
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