The Office of the Comptroller of the Currency claimed that from 2011 to 2019, Sterling originated many loans through its Advantage Loan Program—a low-document mortgage loan program—that had false or fraudulent applications. As part of a consent order, Sterling neither admitted nor denied the allegations.
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Streamlining Mortgage Origination: The New Trend in Fintech Integration
Discover how fintech solutions are revolutionizing mortgage origination by streamlining processes, reducing costs, and enhancing customer experience. Learn about AI and blockchain's roles in transforming this sector.
Estimated reading time: 0 minutes, 24 seconds
Sterling Bank Hit with $6M Fine Over Mortgage Loan Program
Sterling Bank and Trust has agreed to pay a $6 million fine in connection with what was once the Michigan-based bank’s primary mortgage loan product. So reports BankersOnline.com.
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