The U.S. Housing and Urban Development Department said it subpoenaed 15 mortgage companies today to seek out possible fraud in an effort to stem losses on loans insured by the Federal Housing Administration.
HUD officials, who oversee the FHA mortgage insurance program, said they haven’t haven’t found any evidence of wrongdoing at the lenders, and were singling out those with the highest default rates.
Tuesday, January 12, 2010
U.S. Subpoenas 15 FHA Lenders With High Mortgage Defaults
Business Week reports:
