Posted by Jim Habicht on 1/26/10 11:14am
Msg #319596

FHA Cracks Down on 4 Mortgage Lenders

Monday, January 25th, 2010

The Federal Housing Administration Mortgagee Review Board (MRB) permanently withdrew FHA approval for four mortgage lenders and suspended a fifth. Further, the MRB placed two more on a six-month probation period.

The lenders losing approval are: Strategic Mortgage Corporation, ProMortgage, Americare Investment Group, which does business as Premier Capital Lending and TopDot Mortgage. The MRB suspended FHA approval on Home Mortgage Inc. (HMI) for six months. In addition to losing its FHA approval, TopDot faces action from the Government National Mortgage Association, or Ginnie Mae.

Here is the link:

http://www.housingwire.com/2010/01/25/fha-cracks-down-on-7-mortgage-lenders/?utm_source=rss

Reply by Teresa/FL on 1/26/10 1:06pm
Msg #319609

I really disliked closing TopDot loans

They included 50+ pages of broker disclosures on top of an already large lender package.

Reply by Linda Juenger on 1/26/10 2:14pm
Msg #319627

I agree Theres All those broker docs and so many duplicates n/m

Reply by MW/VA on 1/26/10 2:59pm
Msg #319639

I can't say that I'm sorry that they finally caught up with TopDot. IMO the deals were shady.