TITLE

HUD Fleshes Out Plan to Clean Up FHA

AUTHOR(S)
Berry, Kate
PUB. DATE
January 2010
SOURCE
American Banker;1/22/2010, Vol. 175 Issue F303, p10
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the U.S. Department of Housing and Urban Development (HUD) provided more details on its plan to identify underperforming U.S. Federal Housing Administration (FHA) lenders. According to the article, every three months HUD will review all FHA loans that originated over the preceding two years. HUD will terminate any lender whose default and claim rate was more than triple that of its region and higher than the national rate for its first review.
ACCESSION #
47654679

 

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