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The fact that the more operationally skilled nonbanks have come to specialize in government mortgages is hardly surprising if you assess the cost to originate and service these loans.January 13
ChairmanWhalen Global Advisors LLC -
Despite changes by the Federal Housing Administration, bankers remain reluctant to join the program for fear of legal liability. But that could change if it revamps servicing processes, experts say.January 13
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The Federal Housing Administration has implemented defect taxonomy revisions for 2020 that it considers one of several milestone achievements in its efforts to "provide greater clarity and consistency for lenders.”January 3
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The government has used the law to bring fraud claims against Federal Housing Administration lenders, but the new steps respond to criticism that minor offenders were also getting punished.October 28
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The Federal Housing Administration updated its lender certification proposal originally issued this past May, as it looks to ease industry concerns on False Claims Act enforcement.August 15
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Mortgage lenders might be feeling a little less stressed over False Claims Act actions being brought against them following recent headlines but there is still some work to be done before they can chill out.July 2
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Quicken Loans claimed victory in its dispute with the Department of Housing and Urban Development over the False Claims Act, only paying the agency for losses incurred and interest.June 14
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The industry welcomed a proposed overhaul of how the government identifies False Claims Act violations, but some say it remains to be seen if the changes are enough to satisfy companies that had bolted.May 9
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A judge in Michigan has ordered the Justice Department and Quicken Loans attempt a settlement in a years-old lawsuit in which the federal government accused the mortgage lending company of fraud.April 9
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Lennar's mortgage banking unit agreed to settle False Claims Act allegations for $13.2 million, a smaller amount than other lenders paid to the government prior to the end of fiscal year 2017.October 22
