An Appraisal Institute study concludes that two-thirds of failed banks were previously cited by federal bank examiners or had ongoing appraisal administration problems.
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Lenders
HUD Investigating 15 Mortgage Companies For Potential Fraud
By David Snyder on
Posted in Appraisers, Lenders
The US Department of Housing and Urban Development (HUD) last week served subpeonas on 15 mortgage companies nationwide seeking information on failed FHA loans. The subpoenas part of a program reviewing FHA approved mortgage lenders with “significant” foreclosure rates.
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Dodd And Frank Ask Regulators To Address 2nd Mortgage Valuation Issues
By David Snyder on
Posted in Appraisers, Lenders
Senate Banking Committee Chairman Chris Dodd and House Financial Services Chairman Barney Frank sent a letter to the heads of the bank regulatory agencies asking them to address whether banks are inflating the value of 2nd mortgages on their balance sheets.
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U.S. House passes Mortgage Reform and Anti-Predatory Lending Act
By David Snyder on
Posted in Appraisers, Lenders
The U.S. House of Representatives passed the Mortgage Reform and Anti-Predatory Lending Act of 2009.
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