Possible FHA Fine For First TN

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MORTGAGE EXPERT
10 · 08 · 10

Excessive claims paid by the Federal Housing Administration on loans originated by First Tennessee could have the bank facing a fine of nearly $1 million. But alleged infractions are not significant; one of the loans had a 47 percent debt-to-income ratio, and another missed verification of the borrower’s required investment in the property by less than $200.

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Mortgage Daily Staff

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