After federal regulators assessed $1.2 B in penalties against @BankofAmerica for significant BSA/AML compliance failures, the bank told Dodd Frank Update it has invested billions in remediation efforts and remains committed to addressing the deficiencies. bit.ly/3U8tYa5

What lies ahead for mortgage lenders and the broader economy? Three top economists from the @MBAMortgage offered their outlook on potential challenges, emerging opportunities and uncertainties after a year marked by unforeseen events. bit.ly/4sfv0Ob

GAO evaluates effectiveness of ‘trigger lead' prohibition - Less than a year after the ban on “trigger leads” took effect, the @USGAO released a #report on the effectiveness of the law and the impact on borrowers. #triggerleads Source: bit.ly/4sjCZdm

Engagement letters and their significance in the appraisal process - Dodd Frank Update recently had a conversation with Jeff Whaley of Rangewood Appraisal about the importance of letters of engagement. #appraisal #engagement Source: bit.ly/4yB8i4J

MBA issues five-point policy plan for lowering housing, lending costs - @MBAmortgage published a list of five #policy recommendations titled, “Affordability in Action: A Policy #Roadmap to Lower the Cost of Financing a Home to Own or Rent." Source: bit.ly/4BdSLKD

MBA welcomes new leadership officers in Chicago - @MBAmortgage swore in new officers for the coming year during #MBAannual26 in Chicago. The new officers each have extensive leadership experience in the real estate finance industry. #mortgage Source: bit.ly/47sStCa

FinCEN, OCC fine Bank of America $1.2B for BSA/AML deficiencies - @BankofAmerica agreed to pay $1.2 billion in penalties for significant #BSA/#AML compliance failures. The bank told Dodd Frank Update it has invested billions to fix the issues. Source: bit.ly/3VRsGkt

MBA economists highlight ‘bright spots' amid harsh rate forecast - What lies ahead for #mortgage #lenders and the broader #economy? Three top #economists from the @MBAmortgage offered their outlook on challenges and opportunities. #housing Source: bit.ly/3WemgMj

It's not too late to look under the hood. 🔍 See how providers handle implementation, oversight, data and exceptions in the AI Solutions Showcase. Go beyond the AI hype & learn the questions your institution should be asking. Download your free copy: bit.ly/4rTi6Fl

Better-educated agents mean a stronger transaction for everyone. 🔑 In Part 2 of Keys to Real Estate, Arizona Department of Real Estate Commissioner Susan Nicolson shares how Arizona is raising the bar. Out now! 🎧 bit.ly/4fYarkT #RealEstate

Supreme Court to attempt to settle mortgage-on-escrow preemption debate - The legal debate over whether national banks must follow state laws requiring interest payments on #mortgage #escrow accounts. Source: bit.ly/4dEsQ4G

WFG appraisal platform ready for transition - #WFG Enterprise Solutions recently announced its proprietary #Valutrust technology platform is ready to support the transition to the latest #Encompass service. Source: bit.ly/4dYShOL

Appraisal waivers and big data: Do the numbers show a bias pattern? - Examining who receives #appraisal waivers could expose whether data-driven #lending decisions are truly objective or whether #disparities exist that need to be addressed. Source: bit.ly/4BfAFbl

Third quarter M&A activity reshapes regional banking landscape - Financial institutions pursued major #mergers and #acquisitions in the third quarter, reflecting #consolidation's importance as both a growth strategy and competitive necessity. Source: bit.ly/4s7rBkn

The legal debate over whether the National Bank Act preempts state laws requiring nationally chartered banks to pay interest on mortgage escrow accounts is once again set to be taken up by the Supreme Court. bit.ly/4ikUdU3

Federal Reserve System to be divided into five regions under new supervisory framework - @FederalReserve Vice Chair for Supervision Michelle Bowman announced a restructuring plan that would divide the Federal Reserve System into five regions. Source: bit.ly/4hOBTTf

Are data-driven lending decisions truly objective, or reproducing long-standing housing disparities? 🏠 Tobias Peter of @AEI breaks down what the data says about appraiser racial bias and who gets appraisal waivers. bit.ly/4ypkOE9

Behind every confident CEO smile? A 2 a.m. “executive strategy meeting” with an audience of one. 😄 October Research CEO Erica Meyer pulls back the curtain in this week’s Tuesdays With Mary. 👉 bit.ly/4yOfefE

We caught a unique session divided into two parts. @VantageScore EVP, Chief Strategy Officer, Chief Economist Rikard Bandebo and @FICO_corp VP and General Manager of B2B Scores Julie May sat down for separate one-on-one discussions about the new credit scoring environment.

We heard from @FreddieMac EVP, Head of Single-Family Acquisitions, Sonu Mittal and @FannieMae EVP, Head of Single-Family, Jake Williamson during the #MBAannual session “A Conversation with the GSEs.” Deborah Jones, SVP, Senior Advisor, @CitizensBank moderated the discussion.