By KIMBERLEY HAAS Leaders at ActiveComply say their new digital service helps companies in highly regulated industries stay compliant while employing remote workers. Banks, mortgage lenders, credit unions, and investment banking firms have to follow strict agency guidelines, as well as state and federal laws. Remote Office Inspection allows compliance teams at those institutions to…
Denise Miller has been promoted to Vice President, Controller, at Monroe Community Credit Union. The company announced in a press release that Miller will oversee the financial and regulatory functions of the credit union while managing the accounting, payment strategies, and payment solutions departments. Her experience includes more than two decades in the financial institution…
Truist Financial has named Mike Maguire its new chief financial officer starting September 15, the company announced in a press release. “Our teammates, clients, investors, and communities are excited by Truist’s purpose and potential, and I look forward to serving them as CFO,” Maguire said in a statement. In his new position, Maguire will oversee…
In a speech to the Mortgage Bankers Association’s annual convention on Monday, President and CEO Bob Broeksmit told members that, to paraphrase former President Bill Clinton, the era of big, regulatory government is back. Broeksmit’s remarks addressed a range of issues, from the impact on the industry of the COVID-19 pandemic to minority homeownership. But his central…
By Jim Perskie The lending business was significantly more profitable for independent mortgage banks (IMBs) in 2019. IMBs and mortgage subsidiaries of chartered banks made an average profit of $1,470 on each loan they originated last year – up from $367 in 2018, according to a report released Friday by Mortgage Bankers Association. The report also found:…
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