The DOJ’s False Claims Act Suit Could Force Quicken Loans To Give Up FHA The legal battle between Quicken Loans and the DOJ may drive Quicken out of FHA lending. The DOJ’s alleges that Quicken knowingly submitting hundreds of fraudulent loans insured by the Federal Housing Administration Quicken Loans owner Dan Gilbert had several of his infamous Veruca […]
FHA And HUD-OIG Duke It Out Over Legitimacy Of Down Payment Programs FHA is expected to rebuff a report from the Office of the Inspector General of HUD that heavily criticized down payment programs and questioning why low-income borrowers are charged higher interest rates for FHA loans that utilize down payment assistance. The HUD-OIG […]
HUD-OIG Special Agent Herschell Harvell, Jr. Made False Statements To Acquire A Mortgage Loan After a one week trial, a federal jury has convicted HUD-OIG Special Agent Herschell Harvell, Jr., a former Special Agent in Charge with the HUD-OIG, of two counts of making false statements to First Tennessee National Bank, N.A. According to Acting U.S. Attorney […]
Hector Hernandez Directed His Employees To Falsify Information In A $64 Million FHA Mortgage Fraud Scheme Hector Hernandez, a Miami-area real estate developer and owner of Great Country Mortgage Bankers, his business partner and a senior mortgage underwriter each pleaded guilty to a FHA Mortgage Fraud Scheme. The mortgages written by Great Country Mortgage Bankers caused […]
New Rules For Reverse Mortgages Would Allow Non-Borrowing Partners To Remain In The Home FHA announced changes to its reverse mortgage program that would allow non-borrowing spouses to stay in their homes after the last surviving borrower dies. FHA released new guidance earlier this year allowing FHA-approved lenders to delay foreclosure proceedings against non-borrowing spouses. Non-borrower […]
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