U.S. Department of Housing & Urban Development (HUD) Inspector General Kenneth M. Donohue and Federal Housing Administration (FHA) Commissioner David H. Stevens have announced an initiative focusing on mortgage companies with significant claim rates against the Federal Housing Administration mortgage insurance program. HUD Office of Inspector General (OIG) subpoenas were served to the corporate offices of 15 mortgage companies across the country demanding documents and data related to failed loans which resulted in claims paid out by the FHA mortgage insurance fund.Click to continue
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