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You're Now Reading:
Happy New Year: HUD Suspends or Fines Nearly 250 Lenders
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Happy New Year: HUD Suspends or Fines Nearly 250 Lenders
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Happy New Year: HUD Suspends or Fines Nearly 250 Lenders
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

January 1 2011 (Chris Moore)
busted_image
In compliance with the National Housing Act, the Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD) revealed the names and the actions towards nearly 250 mortgage lenders nationwide that had been in violation of HUD and Federal Housing Authority (FHA) guidelines.

The FHA took aim at 127 lenders who failed to meet the annual requirements for U.S. Department of Housing & Urban Development (HUD) re-certification and FHA approval. The 127 non-compliant companies each received revocation of their FHA approval for a total of one year.

Eighty-eight total companies who were found in violation of FHA guidelines, however, were fined and have been found in compliance. Each of these companies was levied civil penalties of $1,000, $3,500 or $7,000, depending on the severity of the violation, and has since been restored into compliance by the FHA and HUD.

Twenty-eight companies with more severe violations reached settlement agreements with the FHA including civil monetary penalties, the withdrawal of FHA approval, suspensions, probations, reprimands and administrative payments. Eleven of the companies had their FHA approval revoked, seventeen companies received civil penalties totaling $554,000, and one company made an administrative payment to the FHA for employment violations.

For a complete list of all violators and violations, click here.

Tags: HUD, FHA, mortgage lenders, guideline violations, mortgage companies, penalties, violations

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

January 1 2011 (Chris Moore)
busted_image
In compliance with the National Housing Act, the Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD) revealed the names and the actions towards nearly 250 mortgage lenders nationwide that had been in violation of HUD and Federal Housing Authority (FHA) guidelines.

The FHA took aim at 127 lenders who failed to meet the annual requirements for U.S. Department of Housing & Urban Development (HUD) re-certification and FHA approval. The 127 non-compliant companies each received revocation of their FHA approval for a total of one year.

Eighty-eight total companies who were found in violation of FHA guidelines, however, were fined and have been found in compliance. Each of these companies was levied civil penalties of $1,000, $3,500 or $7,000, depending on the severity of the violation, and has since been restored into compliance by the FHA and HUD.

Twenty-eight companies with more severe violations reached settlement agreements with the FHA including civil monetary penalties, the withdrawal of FHA approval, suspensions, probations, reprimands and administrative payments. Eleven of the companies had their FHA approval revoked, seventeen companies received civil penalties totaling $554,000, and one company made an administrative payment to the FHA for employment violations.

For a complete list of all violators and violations, click here.

Tags: HUD, FHA, mortgage lenders, guideline violations, mortgage companies, penalties, violations

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

January 1 2011 (Chris Moore)
busted_image
In compliance with the National Housing Act, the Office of the Assistant Secretary for Housing—Federal Housing Commissioner, Department of Housing and Urban Development (HUD) revealed the names and the actions towards nearly 250 mortgage lenders nationwide that had been in violation of HUD and Federal Housing Authority (FHA) guidelines.

The FHA took aim at 127 lenders who failed to meet the annual requirements for U.S. Department of Housing & Urban Development (HUD) re-certification and FHA approval. The 127 non-compliant companies each received revocation of their FHA approval for a total of one year.

Eighty-eight total companies who were found in violation of FHA guidelines, however, were fined and have been found in compliance. Each of these companies was levied civil penalties of $1,000, $3,500 or $7,000, depending on the severity of the violation, and has since been restored into compliance by the FHA and HUD.

Twenty-eight companies with more severe violations reached settlement agreements with the FHA including civil monetary penalties, the withdrawal of FHA approval, suspensions, probations, reprimands and administrative payments. Eleven of the companies had their FHA approval revoked, seventeen companies received civil penalties totaling $554,000, and one company made an administrative payment to the FHA for employment violations.

For a complete list of all violators and violations, click here.

Tags: HUD, FHA, mortgage lenders, guideline violations, mortgage companies, penalties, violations

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.