Over 1,000 Lenders Penalized by Mortgagee Review Board
August 13, 2001
More than a thousand FHA-approved lenders faced administrative charges during a one-year period beginning in April last year for breaking the Department of Housing and Urban Development’s housing regulations. HUD’s Mortgagee Review Board penalized 45 FHA lenders between June 1, 2000 through April 13, 2001 for offenses and poor oversight that resulted in losses to the FHA insurance fund.