Dec. 31: Rates, the Fed, World Economies, Affordability, and the Shutdown

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Posted To: Pipeline Press

How important is it for lock desk personnel to charge the correct fees for rate lock extensions? Very. Lock mistakes were included in Wells Fargo’s latest settlement with states, this time around for $575 million. There were other non-mortgage items listed, however, including opening millions of unauthorized accounts and enrolled customers into online banking services without their knowledge or consent, improperly referred customers for enrollment in third-party renters and life insurance policies, improperly charging auto loan customers for force-placed and unnecessary collateral protection insurance, and failure to ensure that customers received refunds of unearned premiums on some optional auto finance products. (In other legal news, the video industry is scrambling since athletes…(read more)

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