Federal Reserve points penalty towards ex-Primelending LO

The Federal Reserve issued a consent prohibition order towards a former Primelending mortgage officer for infractions, together with battle of curiosity and submission of falsified mortgage paperwork.

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As a mortgage officer for the Dallas-based lender, Aquana Raffington is alleged to have originated and earned commissions on no less than $1.7 million value of fraudulent mortgages throughout her six months of employment in mid 2022. 

“Raffington’s conduct constituted violations of legislation or regulation, unsafe or unsound banking practices, and breaches of fiduciary obligation, and concerned her private dishonesty and her willful and persevering with disregard for the security and soundness of Primelending,” the consent order mentioned. 

Raffington’s actions led Primelending to originate mortgages to debtors who labored at companies owned by her and a member of the family, in violation of the corporate’s battle of curiosity coverage. Raffington additionally knowingly submitted falsified revenue and asset statements and different accompanying paperwork, based on the Fed’s submitting.  

In agreeing to the order, Raffington is barred from employment at any depository banking establishment or its subsidiaries and comparable overseas entities, or involvement in any potential future enterprise affairs, together with voting as a shareholder. Primelending is the mortgage subsidiary of Plainscapital Financial institution and its dad or mum, Hilltop Holdings. 

Decision of the case includes no admission or denial of the allegations by Raffington and is taken into account everlasting except later revoked. Since her termination from Primelending in late 2022, she has labored as a self-employed enterprise marketing consultant, based on her Linkedin profile.

The Fed’s enforcement actions in 2025

Consent prohibitions issued by the central financial institution could be imposed upon either individuals or corporations. Whereas the Federal Reserve continued to implement violations allegedly dedicated by banking staff all through 2025, usually for misuse or theft of firm or buyer funds, the 12 months was largely characterised by the discharge of establishments from orders they beforehand agreed to enter. 

The Fed rescinded over 20 enforcement orders towards monetary establishments, together with high-profile cases involving Wells Fargo, however terminated only one of a former banking employee in the course of the first a number of months of the second Trump administration. Different federal regulators made similar moves, with many directly impacting mortgage lenders. 

Of the three new consent orders banks entered in 2025, all concerned flood insurance coverage violations. The Fed executed greater than a dozen actions towards financial institution staff over the identical time interval. 

Raffington’s consent prohibition marks the second enforcement motion towards a person worker up to now in 2026 following an settlement signed by the regulator and a Areas Financial institution department supervisor in early January.