Search Results: FHA

FHA Attempt To Provide New Guidance: Too Little, Too Late?

On June 18, the Federal Housing Administration provided lenders with a new Defect Taxonomy for Single Family Housing Loans, or Loan Quality Assessment Methodology.  It has been working on the new taxonomy for almost a year, and the final product is very similar to what it presented for comment in September…

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Regional Bank Settles Allegations of FHA Mortgage Lending Violations with Justice Department for $212.5 Million

On June 1, 2015, the Department of Justice announced a settlement with a regional bank over allegations that the bank originated and underwrote mortgage loans that did not meet applicable requirements of the Department of Housing and Urban Development’s (HUD) Federal Housing Administration (FHA) insurance program.  The settlement was previously…

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HUD Settles Fair Housing Claim with Regional Bank for $200 Million

​​The U.S. Department of Housing and Urban Development (HUD) announced that it reached a settlement agreement with a regional bank over a disparate treatment fair housing claim.  HUD alleged that the bank engaged in racially discriminatory redlining by lending less in majority-minority census tracks than in other neighborhoods.  Under the…

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National Bank Agrees to Pay $123.5 million As Part of a Settlement with the Justice Department Over Mortgage Lending Violations

On February 25, 2015, the Department of Justice (“DOJ”) announced a settlement with a national bank over allegations that the bank originated and underwrote mortgage loans that did not meet applicable Department of Housing and Urban Development’s (“HUD”) requirements under the Federal Housing Administration (“FHA”) insurance program. The settlement covers…

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HUD’s New Year Resolution? More Enforcement Actions Against FHA Lenders

Recent indications from the Department of Housing and Urban Development (HUD), HUD’s Office of Inspector General (OIG), and quarterly SEC filings by lenders of FHA mortgages, strongly suggest that HUD’s aggressive enforcement actions against FHA lenders over the past few years are likely to continue in the New Year.  Lenders…

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