Today MReport reported that banks are seeing an increase in in-house regulators. These regulators are not hired by the bank but by the Federal Reserve Bank of New York and the Office of the Comptroller of the Currency. Read more about it at "Big Banks Seeing More Regulators in House"
I have not noticed any new personal at McCue Mortgage that would possibly be filling this role, but "Oversight and Bank Regulator" are not foreign to us. We as well as other Lenders like ourselves get audited on a regular bases, and you never know what files will be requested by regulators. As if this is not enough, we do our own in-house audits, as well as have a Quality Control Department that inspects our loans in process, and closed loans.
Lenders these days are under heavy scrutiny, and there is very little chance of unethical practices going unnoticed. These days Lenders are making sure that every "i" is dotted, and every "t" is crossed. Who knows maybe we do have some of those Federal Reserve and Comptroller of the Currency regulators running around at McCue Mortgage. If they are, we must be doing something right, because I have not seen our name in the headlines in the newspaper :)
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Who To Call For Your Mortgage Needs In Connecticut:
George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.
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