South Florida banks are being watched more closely than others in the nation after regulators tightened standards on exotic mortgages in response to spiking foreclosures. "We are one of the epicenters of the housing bubble, so regulators have targeted this area, as in Vegas and California," says a Miami-based banking analyst. As a result, South Florida banks that have long focused on compliance with anti-money laundering requirements may have to shift their attention to the lending side.
July 25, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
South Florida banks are being watched more closely than others in the nation after regulators tightened standards on exotic mortgages in response to spiking foreclosures.
“We are one of the epicenters of the housing bubble, so regulators have targeted this area, as in Vegas and California,” said Ken Thomas, a Miami-based banking analyst.
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