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Loan Modification

: Mortgage Lender Implode-o-Meter

The HUD hammer hits hard: FHA withdrawals FHA approval status from 905 lenders

By Implode-Explode Heavy Industries

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The Federal Housing Administration's Mortgagee Review Board (MRB) has been busy this year. They published a notice in the Federal Register that announced dozens of administrative actions against FHA-approved lenders who did not meet FHA policy requirements. In 2010 alone, up to the time of the writing of the notice, the MRB has issued around 1,500 sanctions against lenders, including ?reprimands, probations, suspensions, withdrawals of approval and civil money penalties.?

Full post as published by Mortgage Lender Implode-o-Meter on September 03, 2010 (boomark / email).

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