Posted by TulsaPRLGL on 3/5/05 10:08pm
Msg #23858

HUD Investigation

I searched, but was unable find additional information. This was on a local news channel website. I wonder what exactly the clients were charged "extra" for, it doesnt really say?!


A Tulsa real estate company and title company are the focus of a federal investigation. The Department of Housing and Urban Development is investigating McGraw, Davisson, Stewart and Closings of Tulsa, as well as other local closing companies.

Attorneys for McGraw and Closings of Tulsa say the civil investigation involves the interpretation of the real estate settlement procedures act. The attorneys describe the investigation as routine.

They say rumors that any of their client's customers had to pay extra are false. Attorney Bill Grimm: "To say that there has been a single consumer that has been injured is totally wrong.”

The attorneys point out the investigation has been deferred. No charges of any kind have been filed against any local companies.

McGraw, Davisson, Stewart and Closings of Tulsa say they are cooperating with HUD.

Reply by LawrenceOK on 3/6/05 8:12am
Msg #23903

Tulsa

It's not just in Tulsa any longer, it has filtered down to certin closing & title companies in OKC as well. One certin Title company has been under investication for this practise before and they will have a hard time proving no wrong this time. Those little extras that are suppose to be refunded back to the borrower's is not going were it is suppose to. The report also did not mention that a certin well known mortgage company statewide is also under investication.

Reply by Susie/OH on 3/6/05 2:01pm
Msg #23950

Go to www.sourceoftitle.com there is an article on this N/M