| The U.S. Department of Housing and Urban Development disclosed actions it has taken against dozens of approved mortgagees — including civil money settlements and the permanent loss of Federal Housing Administration approval. A couple of big names were on the lists.The administrative actions were outlined in the Federal Register today. Public disclosure of the actions is required by Section 202(c) of the National Housing Act.
HUD settled with the following mortgagees for the amounts listed. In addition to the penalties, some of the firms were required to indemnify HUDÂ on FHA-insured loans.
| Mortgagee |
Location |
Docket No. |
Amount |
Date |
| AAA Worldwide Financial Co |
Addison, Texas |
07-7023-MR |
$155,126 |
March 4 |
| Academy Mortgage LLC |
Catonsville, Md. |
07-7039-MR |
$18,500 |
March 12 |
| Birmingham Bancorp Mortgage Corp. |
West Bloomfield, Mich. |
08-8017-MR |
$3,000 |
Aug. 20, 2008 |
| Colban Funding Inc. |
Endwell, N.Y. |
04-4587-MR |
$15,000
(approval reinstated) |
Dec. 14, 2007 |
| Colony Mortgage Corp. |
Fairview Park, Ohio |
06-6032-MR |
$214,000 |
Jan. 23, 2008 |
| Epix Funding Group |
Brandon, Fla. |
08-8031-MR |
$3,500 |
Jan. 12 |
| First Community Bank |
Corpus Christi, Texas |
08-8074-MR |
$22,500 |
Nov. 21, 2008 |
| Five Star Partnership LLC dba Five Star Mortgage |
Henderson, Nev. |
08-8044-MR |
$15,000 |
Feb. 13 |
| Guardian Nationwide Mortgage Inc. |
Dallas |
07-7004-MR |
$31,500 |
Dec. 14, 2007 |
| McCue Mortgage Co. |
Britain, Conn. |
08-8018-MR |
$1,000 |
Aug. 19, 2008 |
| Moneytree Mortgage Co. |
Lombard, Ill. |
09-9328-MR |
$1,000 |
Jan. 15 |
| Mortgage Investors Corp. |
St. Petersburg, Fla. |
07-7022-MR |
$78,500 |
Aug. 24, 2008 |
| R & G Mortgage Corp. |
Hato Rey, P.R. |
07-7033-MR |
$10,000 |
May 15, 2008 |
| U.S. Bank NA (multifamily) |
Minneapolis |
09-9441-MR |
$52,500 |
Dec. 5, 2008 |
| Vega Financial Inc. |
Las Vegas |
08-8043-MR |
$10,500 |
Aug. 24, 2008 |
| Wells Fargo Bank N.A. |
Des Moines, Iowa |
07-7014-MR |
$13,000 |
April 4, 2008 |
| Westar Mortgage Corp. |
Albuquerque, N.M. |
07-7029-MR |
$78,790 |
Aug. 24, 2008 |
| WR Starkey Mortgage |
Plano, Texas |
07-7015-MR |
$144,431 |
April 4, 2008 |
The following firms lost approval to make loans insured by the Federal Housing Administration.
| Mortgagee |
Location |
Docket No. |
Date |
Duration of Termination |
| BSM Financial LP dba Banksource Mortgage |
Allen, Texas |
05-5047-MR |
Oct. 4, 2008 |
permanent |
| Curry Mortgage Connection LLC |
Arlington, Texas |
9-9555-MR |
Jan. 9 |
1 year |
| Fidelity Home Mortgage |
Baltimore, Md. |
08-8102-MR |
Oct. 8, 2008 |
pending further board action |
| First Rate Capital Corp. dba Axis Mortgage |
Melville, N.Y. |
08-8030-MR |
Dec. 30, 2008 |
6-month probation & $3,500 penalty |
| Gatewood Mortgage Corp. |
Houston |
07-7040-MR |
Jan. 16 |
$492,500 |
| Hogar Mortgage and Financial Services Inc. dba Colamerica |
Montvale, N.J. |
08-8081-MR |
Jan. 16 |
5 years |
| Ideal Mortgage Bankers Ltd. dba Lend America, Lending Key |
Melville, N.Y. |
08-8032-MR |
Dec. 30, 2008 |
According to Ideal, this was six months’ probation and a $6,500 penalty for a mailer. |
| Mission Mortgage Corp. |
Miramar, Fla. |
07-7016-MR |
Nov. 19, 2007 |
5 years plus $12,000 penalty |
| North Shore Financial Inc. |
Meadow, N.Y. |
09-9424-MR |
Jan. 15 |
pending further board action |
| Orchid Island TRS LLC |
Paramus, N.J. |
09-9078-MR |
Jan. 16 |
1 year |
| Prime Financial Group Inc. |
Birmingham Farms, Mich. |
09-9423-MR |
Jan. 15 |
pending further board action |
| WCS Lending, LLC Corp. |
Boca Raton, Fla. |
08-8040-MR |
Oct. 14, 2008 |
6 months probation |
The following mortgagees saw their FHA approval withdrawn for one year because they failed to meet HUD’s requirements for annual re-certification of approval. Among the violations were failure to submit annual re-certification fee, missing reports and failure to submit acceptable audited financials.
| Mortgagee |
Location |
Date |
Docket No. |
| Alliance Mortgage Banking Corp. |
Levittown, N.Y. |
Jan. 9 |
09-9564-MR |
| Allstate Residential Mortgage |
Plymouth, Minn. |
Jan. 9 |
09-9025-MR |
| American Benefit Mortgage Inc. |
Aliso Viejo, Calif. |
Jan. 9 |
09-9182-MR |
| Amerimortgage Bankers LLC |
Miami |
Jan. 9 |
09-9026-MR |
| Amtrust Mortgage Corp. |
Atlanta |
Jan. 9 |
09-9565-MR |
| Asset Mortgage of Hawaii LLC |
Honolulu, Hawaii |
Jan. 9 |
09-9006-MR |
| Bankers Financial Mortgage Group Ltd. |
n.a. |
Jan. 9 |
09-9162-MR |
| Mortgage Services Inc. |
Indian Trail, N.C. |
Jan. 9 |
09-9024-MR |
| Bray Mortgage LLC |
Grand Junction, Colo. |
Jan. 9 |
09-9083-MR |
| Capitol Mortgage Associates Inc. |
Springfield, Ill. |
Jan. 9 |
09-9165-MR |
| Capital Pacific Mortgage Co. |
Modesto, Calif. |
Jan. 9 |
09-9566-MR |
| Castle Mortgage Corp. |
Uniontown, Ohio |
Jan. 9 |
09-9075-MR |
| C & G Financial Services |
Upland, Calif. |
Jan. 9 |
09-9284-MR |
| Citizen First Financial Inc. |
Tucker, Ga. |
Jan. 9 |
09-9192-MR |
| Collins Financial Group Inc. |
Lake city, Fla. |
Jan. 9 |
09-9029-MR |
| Community Home Equities Corp. |
Hillside, N.J. |
Jan. 9 |
09-9126-MR |
| Consumer Financial Counseling Ltd. |
Dublin, Ohio |
Jan. 9 |
09-9567-MR |
| CSI Residential Lending Inc. |
Colleyville, Texas |
Jan. 9 |
09-9230-MR |
| Custom Mortgage LLC |
Eagle, Idaho |
Jan. 9 |
09-9072-MR |
| DFW Funding Solutions |
Dallas |
Jan. 9 |
09-9568-MR |
| Financial Funding Services Inc. |
Coral Gables, Fla. |
Jan. 9 |
09-9569-MR |
| First Choice Lenders Nationwide LLC |
Highland Village, Texas |
Jan. 9 |
09-9570-MR |
| Flower Bank, FSB |
Chicago |
Jan. 9 |
09-9113-MR |
| Focus Capital Group |
Roanoke, Ind. |
Jan. 9 |
09-9034-MR |
| FRMC Financial, Inc. dba First Republic Mortgage Co. |
Annapolis, Md. |
Jan. 9 |
09-9028-MR |
| Gibraltar Mortgage LLC |
Jacksonville, Fla. |
Jan. 9 |
09-9088-MR |
| Goodwill Mortgage Services LLC |
Hartford, Conn. |
Jan. 9 |
09-9571-MR |
| Green Acres Mortgage Inc. |
Spring Lake Park, Minn. |
Jan. 9 |
09-9114-MR |
| Greenway Lending Group LLC |
Washington, D.C. |
Jan. 9 |
09-9572-MR |
| Guardian Loan Company of Massapequa, Inc. |
Clifton Park, N.Y. |
Jan. 9 |
09-9573-MR |
| Hamlin Mortgage Co. |
Rochester Hills, Mich. |
Jan. 9 |
09-9574-MR |
| Heartland Home Finance Inc. |
Downers Grove, Ill. |
Jan. 9 |
09-9224-MR |
| Homestead Mortgage Company LLC |
Columbus, Ohio |
Jan. 9 |
09-9015-MR |
| Mortgage Trust LLC |
Anderson, Ind. |
Jan. 9 |
09-9023-MR |
| I/C Home Mortgage Services |
Albuquerque, N.M. |
Jan. 9 |
09-9016-MR |
| IFG Mortgage LLC |
Coral Gables, Fla. |
Jan. 9 |
09-9008-MR |
| Infinity Residential Funding Inc. |
Dallas |
Jan. 9 |
09-9575-MR |
| Island Creek Mortgage Corp. |
Pawtucket, R.I. |
Jan. 9 |
09-9576-MR |
| Legacy Home Mortgage Inc. |
Palos Hills, Ill. |
Jan. 9 |
09-9017-MR |
| Lending Hand Mortgage Inc. |
Green Bay, Wis. |
Jan. 9 |
09-9153-MR |
| L. S. Mortgage Solutions Inc. |
Kingwood, Texas |
Jan. 9 |
09-9577-MR |
| Loan Center of California Inc. |
Suisun City, Calif. |
Jan. 9 |
09-9578-MR |
| Lownhome Financial Holdings Inc. |
San Jose, Calif. |
Jan. 9 |
09-9579-MR |
| Luxury Financial Group Inc. |
Broomfield, Colo. |
Jan. 9 |
09-9164-MR |
| Mile High Banks, N.A. |
Denver |
Jan. 9 |
09-9086-MR |
| Mortgage Plus Financial Corp. |
Minneapolis |
Jan. 9 |
09-9010-MR |
| New Horizons Mortgage Company LLC |
n.a. |
Jan. 9 |
09-9185-MR |
| Pacific Community Mortgage Inc. |
Anaheim, Calif. |
Jan. 9 |
09-9580-MR |
| Pacific Crest Mortgage Corp. |
Cathedral City, Calif. |
Jan. 9 |
09-9121-MR |
| Pacifica Direct LLC |
Encino, Calif. |
Jan. 9 |
09-9234-MR |
| Pacifica West Financial LLC |
Carlsbad, Calif. |
Jan. 9 |
09-9082-MR |
| Penn Federal Savings Bank |
Newark, N.J. |
Jan. 9 |
n.a. |
| Cap Financial LLC |
Henderson, Nev. |
Jan. 9 |
09-9020-MR |
| RC Lending LLC |
Plano, Texas |
Jan. 9 |
09-9096-MR |
| Regency Mortgage Corp. |
Salt Lake City |
Jan. 9 |
09-9103-MR |
| S and L Capital Group Inc. |
Sarasota, Fla. |
Jan. 9 |
09-9063-MR |
| SFG Bancorp, dba Piggybank Home Loans |
Pleasanton, Calif. |
Jan. 9 |
09-9232-MR |
| Schreiber Financial Group Ltd. |
Naperville, Ill. |
Jan. 9 |
09-9047-MR |
| Secure Bankers Mortgage Co. |
Van Nuys, Calif. |
Jan. 9 |
09-9584-MR |
| Shasta Financial Services Inc. |
Elk Grove, Calif. |
Jan. 9 |
09-9583-MR |
| Southstar Funding LLC |
Atlanta |
Jan. 9 |
09-9585-MR |
| Stirling Mortgage Corp. |
Salt Lake City |
Jan. 9 |
09-9007-MR |
| STS Capital Holding Inc. |
Tampa, Fla. |
Jan. 9 |
09-9180-MR |
| Superior Mortgage Corp. |
South Hill, Va. |
Jan. 9 |
09-9252-MR |
| Swan Investment International |
Covina, Calif. |
Jan. 9 |
09-9586-MR |
| The Loan Office Inc. |
Fort Lauderdale, Fla. |
Jan. 9 |
09-9587-MR |
| Thumb Butte Mortgage Inc. |
Prescott, Ariz. |
Jan. 9 |
09-9227-MR |
| Titan Capital Funding Inc. |
Midvale, Utah |
Jan. 9 |
09-9588-MR |
| Trendstar Mortgage, LLC |
Camp Springs, Md. |
Jan. 9 |
09-9149-MR |
| United Capital Inc. |
Knoxville, Tenn. |
Jan. 9 |
09-9151-MR |
| Virgin Islands Community Bank |
Christiansted, Virgin Islands |
Jan. 9 |
09-9-MR |
| Lakeview Mortgage Corp. |
Chicago |
Jan. 16 |
09-9317-MR |
| Balboa Reinsurance Co. |
Simi Valley, Calif. |
Jan. 9 |
09-9219-MR |
| Bank Reale |
Pasco, Wash. |
Jan. 9 |
09-9213-MR |
| Common Cents Mortgage Inc. |
n.a. |
Jan. 9 |
09-9036-MR |
| Cooperative De Ahorro Y Credito Caribe |
Guayanilla, P.R. |
Jan. 9 |
09-9085-MR |
| First State Bank & Trust |
Caruthersville, Mo. |
Jan. 9 |
09-9159-MR |
| Harper & Associates Inc. |
Cabot, Ark. |
Jan. 9 |
09-9014-MR |
| Infinity Lending Group |
Tustin, Calif. |
Jan. 9 |
09-9220-MR |
| Key Mortgage Corp. |
Coeur D Alene, Idaho |
Jan. 9 |
09-9051-MR |
| Level 1 Mortgage LLC |
Littleton, Colo. |
Jan. 9 |
09-9011-MR |
| Paramount Residential Mortgage Group, Inc. |
Corona, Calif. |
Jan. 9 |
09-9043-MR |
| New Horizon RE, Inc. dba JL Mortgage |
Columbia, S.C. |
Jan. 9 |
09-9009-MR |
| San Diego Loans dba SDLoans.com |
San Diego |
Jan. 9 |
09-9022-MR |
| Sun National Bank |
Vineland, N.J. |
Jan. 9 |
09-9091-MR |
| The Bank of Fayetteville |
Fayetteville, Ark. |
Jan. 9 |
09-9246-MR |
| The Residential Mortgage Group Inc. |
Wakefield, Mass. |
Jan. 9 |
09-9152-MR |
| TLP Funding |
Calabasas, Calif. |
Jan. 9 |
09-9228-MR |
| Viva Advisor Group Inc. |
Cincinnati |
Jan. 9 |
09-9202-MR |
| West Union Bank |
West Union, W.V. |
Jan. 9 |
09-9064-MR |
| B & T Mortgage Inc. |
Glendale, Ariz. |
Jan. 16 |
09-9211-MR |
| Citibank NA |
New York |
Jan. 16 |
09-9094-MR |
| Corstar Financial Inc. |
Phoenix |
Jan. 16 |
09-9386-MR |
| EAI Financial Group Inc. |
Plymouth, Mass. |
Jan. 16 |
09-9331-MR |
| Eastern Financial Home Loans Corp. |
Hialeah, Fla. |
Jan. 16 |
09-9279-MR |
| First National Bank Pine City |
Pine City, Minn. |
Jan. 16 |
09-9235-MR |
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