Items Tagged with 'FHA lending'

ARTICLES

  • False Claims Act claims another one: IBERIABANK fined $11.7 million for FHA lending violations

    Becomes latest in string of FHA lenders fined by government
    The False Claims Act has claimed another lender. On Friday, the DOJ announced that IBERIABANK Corporation, IBERIABANK and IBERIABANK Mortgage, agreed to pay a fine of $11,692,149 to resolve allegations that the companies violated the False Claims Act by falsely certifying that loans originated by the companies were eligible for FHA mortgage insurance.
    Read More
  • Carson: HUD working with DOJ on easing enforcement of FHA lending

    Review FHA lender certifications and implementation of defect taxonomy
    Speaking Monday during the morning general session at the Mortgage Bankers Association Annual Conference in Denver, HUD Secretary Ben Carson told attendees that HUD is working with the Department of Justice to address the rise of DOJ enforcement in Federal Housing Administration lending. Then Carson did what normally doesn’t happen in speeches like these: He made an announcement.
    Read More
  • Carson: Government considering ending use of False Claims Act against FHA lenders

    Tells Congress that administration is discussing “ridiculous” rise of FCA charges
    The government’s proclivity to use the False Claims Act as a weapon against mortgage lenders could soon be coming to an end, Department of Housing and Urban Development Secretary Ben Carson told members of Congress on Thursday. "We’re committed to getting that resolved, because it’s ridiculous, quite frankly,” Carson said of the rise of the False Claims Act.
    Read More
  • HUD bans Seckel Capital for falsifying FHA lending docs

    Company owner John Seckel also suspended from doing business with government
    Pennsylvania-based mortgage lender Seckel Capital will no longer be allowed to originate or underwrite Federal Housing Administration mortgages after an investigation from the Department of Housing and Urban Development found that the company repeatedly lied to the FHA about its financials.
    Read More
  • Prospect Mortgage fined $4.16 million for crisis-era FHA lending violations

    DOJ sanctions lender for two branches’ activities from 2007-2009
    While most of the country spent the early part of this week consumed by fireworks and consuming copious amounts of hot dogs and hamburgers, one mortgage lender found itself joining a list that includes Wells Fargo, Walter Investment, Freedom Mortgage, and many more. On Monday, the Justice Department announced Prospect Mortgage will pay more than $4 million to settle allegations the company committed civil mortgage fraud by underwriting mortgages that did not comply with FHA standards.
    Read More