Tags: US | Government | Loans | Crackdown

U.S. Probes 15 FHA Lenders With High Defaults

Tuesday, 12 Jan 2010 02:03 PM

Federal housing officials are investigating 15 mortgage companies that have suspiciously high default rates for loans backed by the Federal Housing Administration.

The Department of Housing and Urban Development's Office of Inspector General says it served subpoenas to corporate offices of the companies demanding documents and data about failed loans.

The inspector general Kenneth Donohue, said he wants to determine why defaults are so high among those companies and whether any have committed fraud.

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Federal housing officials are investigating 15 mortgage companies that have suspiciously high default rates for loans backed by the Federal Housing Administration.The Department of Housing and Urban Development's Office of Inspector General says it served subpoenas to...
US,Government,Loans,Crackdown
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2010-03-12
 

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