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/
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.

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.



Las Vegas Lender Refutes FHA Terminations

International Home Capital says HUD Credit Watch terminations a result of its own branch terminations

January 27, 2004

By COCO SALAZAR


One FHA lender is demanding clarification about recent HUD Credit Watch terminations.

International Home Capital Corp.'s president wrote MortgageDaily.com a letter in response to previous coverage of the fifteen lenders that had their participation in the Federal Housing Administration (FHA) mortgage insurance program terminated by the U.S. Department of Housing and Urban Development (HUD).

In his letter, Dave Enenbach noted that HUD terminated certain previously affiliated International branches because relationships with those branches had been terminated by International.

The Las Vegas branches -- doing business as Express Equities, Guaranty Mortgage, and Milestone Financial -- "were only a few of the approved 'branches' we have across the country," Enenbach said in his letter. "The balance of (International's) many offices remain open and or as approved HUD branches."

MortgageDaily.com's original article included a list specifying the company names and the locations of the terminated branches -- derived from the physical addresses HUD provided in a Federal Register notice dated Jan. 12. In the section highlighting the "cause" for FHA approval termination, HUD cited that it could terminate the approval with any mortgagee having a default and claim rate, for loans endorsed within the past two years, that exceeded both the national rate and 200% of the local HUD Field office rate. In this particular period, termination was based on a rate exceeding 225% of the field office rate, said HUD.

Asked whether termination could be based on Enenbach's claim, HUD spokesman Lemar Wooley said that the lender branches, noted by name and address of the branch in the Federal Register posting, were "terminated for the reasons listed under 'Cause.'"

HUD posted one physical address with a Las Vegas location for International in the notice.


Coco Salazar is an assistant editor and staff writer for MortgageDaily.com.

email: [email protected]


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