Instead of pursuing bad actors in the FHA program, Quicken’s Bill Emerson said, DOJ is just trying to garner settlements from the largest lenders. "They just want us to write a check," he said.
Bill Emerson, chief executive of Quicken Loans, said at a recent conference that the threat of government probes and a lack of regulatory clarity are making FHA lending less attractive.
Cornerstone Home Lending surrendered its state mortgage license in Georgia and will pay $33,500 under the terms of a consent order reached with state banking regulators.
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