Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…
Mark Calabria of the FHFA: “But from a risk perspective there are some key differences between banks and non-banks that we need to address in a responsible way. Prudent, sustainable risk management is one of my top priorities.” The regulator did not elaborate much...
Among the top three Ginnie Mae servicers at March 31, just three were banks: Wells Fargo, U.S. Bank and JPMorgan Chase. Among those ranked 11 to 20 four are depositories, including one credit union...
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