| Autor: |
Heeb, Gina (AUTHOR) |
| Předmět: |
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| Zdroj: |
Wall Street Journal - Online Edition. 10/10/2024, pN.PAG-N.PAG. 1p. |
| Abstrakt: |
Freddie Mac is ending its blacklist of real-estate broker Meridian Capital Group after the broker made significant changes to its risk and control framework. The move by Freddie Mac could signal stricter requirements for the rest of the industry as regulators crack down on fraud. Meridian will resume business with Freddie Mac in January, more than a year after being banned due to allegations of falsifying client financials. Fannie Mae still has a blacklist on Meridian, but the firm remains hopeful that it will be lifted in the future. Meridian has implemented new measures, including requiring internal approval for certain deals and a credit approval committee for all Fannie and Freddie loans. The agreement with Freddie Mac also includes terms that could slow down the pace of deals in the real-estate brokerage industry. Meridian has also implemented a loan review system and made significant workforce reductions. Fannie Mae and Freddie Mac are conducting a wider probe into fraud allegations in the industry. Meridian has a close relationship with New York Community Bancorp. [Extracted from the article] |
| Databáze: |
Regional Business News |
| Externí odkaz: |
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