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Miami firm accused of approving ineligible loans for FHA insurance

By Laurel Adams

Miami-based Nationwide Home Loans Inc. should be prepared to repay some $5 million to the Federal Housing Administration because the lender’

Excerpts from this story referencing "FHA loan":

"… inaccurate and unsupported information to qualify borrowers for 5 out of 6 FHA loans reviewed,” the report said, which put the FHA insurance fund at risk fo …"

Where’s the HAMP loan data?

By Julie Vorman

The Treasury Department should stop dragging its feet and release some of the specific loan-level data it has collected from mortgage servic

Excerpts from this story referencing "Federal Housing Administration":

"… stry” and whether they are complying with contractual obligations to the Federal Housing Administration and the Veterans Administration. The bureau officially opens its doors in …"

HUD criticized for sloppy management of automated underwriting

By Julie Vorman

Serious flaws in the Federal Housing Administration’s automated underwriting process resulted in more than $6.1 billion in loans winning aut

Excerpts from this story referencing "FHA loan":

"… utomated underwriting process, accounting for nearly three-quarters of all FHA loans, the Housing and Urban Development (HUD) inspector general said.The autom …"

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FHA lenders must learn the meaning of a deadline

By Julie Vorman

The Federal Housing Administration should be stricter in policing lenders who fail to submit annual recertification documents required to be

Excerpts from this story referencing "Federal Housing Administration":

"… o reduce the $345 billion gap between federal taxes owed and paid (OIG) …"

Big banks can fund mortgage aid programs If government won't, says Democrat

By Julie Vorman

As budget-conscious House Republicans try to kill a $1 billion program to help unemployed Americans avoid foreclosure, Democrat Barney Frank

Excerpts from this story referencing "Federal Housing Administration":

"… achus.On Thursday, the House also voted to pull the plug on the $8 billion Federal Housing Administration program that provides FHA-insured loans to help underwater homeowners refi …"

U.S. housing market “near bottom,” says FHA chief

By Julie Vorman

How does a key mortgage player size up the current state of the U.S. housing market? “I think we’re near bottom,” Federal Housing Administr

Excerpts from this story referencing "Federal Housing Administration":

"… urrent state of the U.S. housing market?“I think we’re near bottom,” Federal Housing Administration Commissioner David Stevens told a congressional hearing this morning. “I …"

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FHA and Ginnie Mae punish troubled New York lender cited by Center probe

By Brian Grow

A New York-based lender that was featured in a recent Center for Public Integrity investigation has been expelled from a government-insured

Excerpts from this story referencing "FHA loan":

"… eckered pasts, which had nevertheless won approval from Ginnie Mae to sell FHA loans in the secondary mortgage market. Ginnie Mae guarantees payment on those …"

"… opDot was able to generate new cash, which the firm could use to make more FHA loans. According to the Department of Housing and Urban Development, TopDot had …"

"… g the company had misled borrowers about the terms of both traditional and FHA loans. More significantly, as of last December, TopDot had a default rate on FH …"

"… ans. More significantly, as of last December, TopDot had a default rate on FHA loans issued in the previous two years of 14.3 percent, more than double that o …"

Ginnie Mae's troubling endorsements

By Brian Grow and Zachary Goldfarb

The trouble signs surrounding Lend America had been building for years. A top executive was convicted of mortgage fraud but still helped run

Excerpts from this story referencing "FHA loan":

"… r ordered by HUD auditors to cover the cost of bad loans. Eight firms have FHA loan portfolios that are defaulting at double the rate of their principal compe …"

"… ho, N.Y., company misled borrowers about the terms of both traditional and FHA loans. Its default rate on FHA loans made in the past two years is 14.3 percent …"

"… ers about the terms of both traditional and FHA loans. Its default rate on FHA loans made in the past two years is 14.3 percent, or more than double that of o …"

"… HUD’s database shows that nine months before that approval was granted, FHA loans made by one of the firm’s branches had a default rate far higher than i …"

Straining the FHA's umbrella

By Brian Grow and Binyamin Appelbaum

A District nonprofit organization that says it helps cash-strapped homeowners avoid foreclosure is under federal investigation for instead h

Excerpts from this story referencing "FHA loan":

"… The Justice Department, which sought to keep Lend America from making more FHA loans, won a permanent injunction against Lend America in December. HUD withdre …"

"… e department says it is actively monitoring lenders whose default rates on FHA loans are higher than average.Some observers of the FHA warn that the recent im …"

Executives with criminal records slip through FHA crackdown, documents show

By Brian Grow

A crackdown on reckless mortgage lenders by the Federal Housing Administration has failed to root out several executives with criminal recor

Excerpts from this story referencing "FHA loan":

"… tives now works as a sales manager at a company currently approved to make FHA loans.In another instance, a former senior executive with BSM Financial, an FHA …"

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