Michigan Bankers Applaud OFIS Re-organization; Move Will Help Combat Growing Incidents of Mortgage Lending Industry Fraud.

LANSING, Mich. -- Administrative changes announced today by the Michigan Office of Financial and Insurance Services are right on target to help that agency better combat mortgage lending fraud, according to the Michigan Banker's Association.

"This move will help the regulatory agency identify and stop the bad actors in the mortgage lending industry," said Dennis Koons, President and CEO of the Michigan Bankers Association. "We wholeheartedly support the continuing efforts of OFIS and Commissioner Watters to eliminate fraud in mortgage lending. The number of non-bank mortgage lenders has exploded in recent years, and incidents of fraud and unscrupulous lending practices have been on the rise. By transferring the Examination and Investigations Unit of the Mortgage Banking Office to the Office of Financial Evaluation, OFIS will be better positioned to protect Michigan consumers from rogue lenders and ensure a safe and secure lending environment."

The Michigan Bankers Association is the voice of Michigan's banks and savings banks with more than 2,300 branches located throughout the state with combined assets of over $200 billion. The MBA's mission is to advance a positive business environment for the Michigan banking industry and to foster safe, profitable, and successful banks, which in turn promote strong communities and economic activity in Michigan.

For more information on MBA visit www.mibankers.com.