For additional background and context, I would direct readers first to that. BOFI reports having $431 Million in mortgage "warehouse and other" loans outstanding as of the most recent quarter. A.
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First Tennessee Bank to pay $212.5 million for faulty FHA underwriting – According to the DOJ, First Tennessee participated in the FHA insurance program as a Direct Endorsement Lender. As a DEL, First Tennessee had the authority to originate, underwrite and endorse.
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Fed tightens up lending rules – Another set of proposals Tuesday would apply to all mortgage loans. The rules are subject to public comment for 90 days, after which the Fed will review comments and consider. The Fed would now.
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