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.)
OCC revises stress test dataset
The OCC has released a revised dataset for use by covered institutions in the upcoming 2019 stress tests. The previously released dataset contained an incorrect value for the mortgage rate in the fourth quarter 2018. The updated dataset contains the corrected data point of 4.8 percent rather than the previously published 4.6 percent mortgage rate for that quarter. This is the same error that the Federal Reserve corrected earlier this week.