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Loan Modification

: Mortgage Lender Implode-o-Meter

FHA slow to flag problem lenders, stop them

By Implode-Explode Heavy Industries

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"The FHA promotes homeownership by insuring the mortgages of borrowers who don?t qualify for conventional bank mortgages. But the agency?s weak enforcement of its own rules put thousands of home buyers in danger of getting loans based on fraudulent records or sloppy work at a time when lending companies were pushing high-risk loans, USA TODAY found"

Full post as published by Mortgage Lender Implode-o-Meter on March 28, 2011 (boomark / email).

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