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High Commission Mortgages Drive Lending Abuses

July 26, 2011 By Problem Bank List Staff 4 Comments

The Federal Reserve recently imposed an $85 million fine on Wells Fargo related to subprime loan origination. Fines and legal actions against banks by regulators have become routine, but the Wells Fargo case is unique for several reasons. The Federal Reserve noted that this was the first time that regulators have imposed a penalty for […]

Filed Under: Bank Lending, Banking News, featured, problem banks, Subprime lending Tagged With: commissioned mortgages, Federal Reserve, FHA mortgage, High commission mortgages, Lending abuses, Wells Fargo

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