Citizens Ins. Has to Recalculate Rate Increases
The state-owned insurer requested a maximum 12% hike for most residential policies and must go lower. But a condo association hike was approved at 9.2%.
CFPB Penalizes Lender and Broker for Kickbacks
The consumer bureau says Freedom Mortgage gave Long Island brokers and agents “illegal incentives” under RESPA, including cash, subscriptions and parties.
New SBA Small-Biz Lending Rules Started Aug. 1
SBA now allows some more nonbank lenders to offer SBA 7(a) loans, and it eased lending standards, knocking nine creditworthy criteria down to only three.
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