The Federal Reserve Board has issued a prohibition order against a sales executive at Caliber Home Loans Inc. over his practices at another company.
Daniel X. Brennan was previously employed as a mortgage production manager at Regions Bank in Birmingham, Alabama.
But during that period it was determined that Brennan engaged in improper practices in the origination of residential loans.
“The board found Brennan engaged in unsafe and unsound practices, or breached his fiduciary duties to Regions 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,” the Fed stated.
The Fed noted that Brennan consented to the enforcement action.
Brennan’s LinkedIn profile indicates that he has been the mortgage sales manager in the Miami area for Caliber since September 2016. The profile indicates he is still in the position.
Spokesman for the Irving, Texas-based company didn’t respond to requests for clarification about Brennan’s current status with Caliber.
But a Housing Wire story Wednesday said he had been fired.
