Banker's Toolbox Announces — ACQUISITION OF LOAN LOSS RESERVE POWERHOUSE, MAINSTREET TECHNOLOGIES
Banker's Toolbox, Inc., leaders in compliance solutions for financial institutions, announced the acquisition of Georgia-based MainStreet Technologies (MST). MST is an industry leader in the loan risk management space. This acquisition adds to a strong and growing portfolio of compliance-related solutions and will continue to enhance the value Banker's Toolbox brings to both their customers and the industry. (Read full press release here.)
Mortgage manager banned from banking
The Federal Reserve Board has announced that it has prohibited Daniel X. Brennan, a former mortgage production manager at Regions Bank, Birmingham, Alabama, from participating in the banking industry, after finding that Brennan engaged in unsafe and unsound practices, or breached his fiduciary duty to the bank, by making payments by personal check to a Regions Bank loan processor who processed and approved certain mortgage loans originated by Brennan, in violation of Regions' policies.