twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Mortgage Lawsuits News | Mortgage Litigation Index
Mortgage industry lawsuit news and mortgage litigation coverage. Stories about legal settlements, judgments and mortgage class actions.


NC Settles With Parent of Defunct Mortgage Unit

Beazer Mortgage settles with Office of the Commissioner of Banks

May 19, 2009

By MortgageDaily.com staff


The parent company of a mortgage lender that shut down last year will pay $2.5 million to settle a lending investigation by North Carolina regulators. But a federal investigation into mortgage fraud on government originations lingers.

In an announcement today, Beazer Homes USA Inc. said it entered a settlement agreement with the North Carolina Office of the Commissioner of Banks over "certain mortgage origination issues in 2007."

Subsidiary Beazer Mortgage Corp., which shut down in February 2008, was subpoenaed by the U.S. Attorney's Office in the Western District of North Carolina in March 2007. The subpoena, issued at the request of the Department of Housing and Urban Development's Office of Inspector General, sought mortgage origination documents on homes in at least one North Carolina subdivision.

Potential fraudulent lending practices involving FHA-insured loans with high foreclosures rates were being investigated.

In October 2007, Beazer disclosed that provisions of HUD's down payment assistance regulations were violated on FHA-insured loans by its employees. The violations dated back to 2000.

Today's settlement includes a consent order for Beazer Mortgage to provide $2.5 million in restitution to borrowers impacted by alleged violations at the unit.

"The settlement agreement concludes the Office of the Commissioner of Banks' investigation into these matters with respect to Beazer Mortgage," the statement said.

But no agreement has yet been reached with the U.S. attorney's office.

In all, Beazer said it has set aside $13 million in charges for payments tied to government investigations.

FHA News | Government Resources | M o r t g a g e e Letters | FHA Statistics
FHA, VA and HECM mortgage news. HUD and G i n n i e news also. Originations, servicing and FHA approval.



Mortgage Fraud News | Mortgage Fraud Blog
Mortgage broker, originator and banker criminal cases.
Real estate flipping and appraisal fraud. Mortgage
fraud prevention, studies and analysis.

Mortgage Fraud News | Fraud Statistics | Fraud Index | Fraud Blog
Mortgage broker, originator and banker criminal cases. Real estate flipping and appraisal fraud. Mortgage fraud prevention, studies and analysis.





SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders