Google+
  • Ocwen3.15+0.05 +1.61%
  • Zillow39.92-0.36 -0.89%
  • Trulia47+0 +0%
  • NationStar17.70+0.38 +2.19%
  • CoreLogic45.65-0.36 -0.78%
  • RE/MAX61.55+0.85 +1.40%
  • Fannie Mae2.80+0.06 +2.19%
  • Freddie Mac2.645+0.045 +1.731%
  • Wells Fargo54.06+0.31 +0.58%
  • CitiMortgage71.76+0.30 +0.42%
  • Bank of America25.16+0.10 +0.40%
  • Fidelity National Financial47.39-0.91 -1.88%
  • First American48.84-0.42 -0.85%
  • Black Knight Financial Services43.45-0.55 -1.25%
  • AUDUSD=X0.7944+0.0012 +0.1500%
  • USDJPY=X112.0210-0.3950 -0.3514%
Home | Featured | Freedom Mortgage Resolves FHA Allegations
Print This Post Print This Post

Freedom Mortgage Resolves FHA Allegations

paying-moneyFreedom Mortgage Corp., is the latest company to resolve claims that it violated the False Claims Act by knowingly originating and underwriting single-family mortgage loans insured by the Federal Housing Administration (FHA) that did not meet the mortgage insurer's requirements.

The U.S. Justice Department announced Friday that New Jersey-based Freedom Mortgage will pay $113 million resolve allegations that it violated the False Claims Act from 2006 to 2011. According to the Justice Department, today's settlement resolves allegations that Freedom Mortgage "failed to comply with certain FHA origination, underwriting, and quality control requirements."

“It is imperative that mortgage lenders that participate in the FHA insurance program follow the rules and requirements set forth by HUD,” said Principal Deputy Assistant Attorney General Benjamin C. Mizer, Head of the Justice Department’s Civil Division. “We will continue to work with our partners at HUD, its Office of Inspector General, and U.S. Attorneys around the country to protect homeowners and taxpayers from those who knowingly seek to abuse the FHA program for their own gain.”

U.S. Attorney Paul J. Fishman for the District of New Jersey added, “Freedom Mortgage did not properly comply with FHA rules for the mortgages it was generating and did not adequately monitor early payment defaults. It also failed to report to HUD the defaults it did discover, as required by its participation in the program. Today’s settlement recognizes those failures and imposes an appropriate sanction.”

Freedom Mortgage was not immediately available to comment at the time of publication of this article.

The Department noted that as part of the settlement, Freedom Mortgage Corporation admitted to the following facts:

  • Between Jan. 1, 2006 and Dec. 31, 2011, it certified mortgage loans for FHA insurance that did not meet HUD underwriting requirements and were therefore not eligible for FHA mortgage insurance.
  • Additionally, Freedom Mortgage Corporation did not adhere to FHA’s quality control (QC) requirements. Between 2006 and 2008, Freedom Mortgage Corporation did not share its early payment default (EPD) QC reviews with production and underwriting management, nor did it require responses to its EPD QC findings from its production or underwriting staff.
  • Due to staffing limitations between 2008 and 2010, Freedom Mortgage Corporation did not always perform timely QC reviews or perform audits of all EPD loans, as required by HUD. An EPD is a loan that becomes 60 days past due within the first six months of the loan. The EPD QC reviews that Freedom Mortgage Corporation did perform revealed high defect rates, exceeding 30 percent between 2008 and 2010. Yet, between 2006 and 2011, Freedom Mortgage Corporation did not report a single improperly originated loan to HUD, despite its obligation to do so.
  • Additionally, in 2012, after identifying hundreds of loans that “possibly should have been self-reported to HUD,” it reported only one. As a result of Freedom Mortgage Corporation’s conduct, HUD insured hundreds of loans that were not eligible for FHA mortgage insurance under the DEL program, and that HUD would not otherwise have insured and subsequently incurred substantial losses when it paid insurance claims on the ineligible loans approved by Freedom Mortgage Corporation.

Click here to view the full announcement.

About Author: Xhevrije West

Vri 2
Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University.

186 comments

  1. Pingback: Freedom Mortgage Resolves FHA Allegations - Appraisal Buzz

  2. Pingback: Freedom Mortgage Resolves FHA Allegations - Brokers TitleBrokers Title

  3. Pingback: My Homepage

  4. Pingback: feathersoundsmiles.com

  5. Pingback: Scientific Trading Machine bonus

  6. Pingback: para kazanmak

  7. Pingback: para kazanmak

  8. Pingback: ankara escort

  9. Pingback: ankara escort

  10. Pingback: fightinjustice

  11. Pingback: easy article rewriter

  12. Pingback: dknight magicbox how to pair

  13. Pingback: phen375 buy

  14. Pingback: orion code review

  15. Pingback: DJ k3vin envoy

  16. Pingback: Best Newspaper in India

  17. Pingback: 4cyn5et4m5t94c5t9m4vn54cx65

  18. Pingback: http://falschgeldkaufen.blogspot.com/2017/01/wo-kann-ich-falschgeld-kaufen.html

  19. Pingback: alcoholism and depression

  20. Pingback: دانلود قسمت هشتم شهرزاد دوم

  21. Pingback: دانلود شهرزاد قسمت نهم فصل دوم

  22. Pingback: دانلود شهرزاد قسمت هفتم فصل دوم

  23. Pingback: دانلود شهرزاد قسمت دوازدهم فصل دوم

  24. Pingback: قیمت پنجره

  25. Pingback: anal sex

  26. Pingback: دانلود قسمت 10 شهرزاد دوم

  27. Pingback: دانلود قسمت 12 عاشقانه

  28. Pingback: دانلود قسمت 14عاشقانه

  29. Pingback: Rachel Starr

  30. Pingback: Jessie Volt

  31. Pingback: Rachel Starr

  32. Pingback: Angela White

  33. Pingback: Elsa Jean

  34. Pingback: دانلود فصل دوم شهرزاد

  35. Pingback: Rachel Starr

  36. Pingback: Paleo Diet

  37. Pingback: online movies

  38. Pingback: دانلود قسمت دوازه عاشقانه

  39. Pingback: Loyola College for Sale

  40. Pingback: دانلود قسمت یازدهم شهرزاد دوم

  41. Pingback: دانلود قسمت دوازدهم عاشقانه

  42. Pingback: دانلود قسمت پنجم شهرزاد دوم

  43. Pingback: دانلود قسمت سوم شهرزاد دوم

  44. Pingback: دانلود قسمت 13 عاشقانه

  45. Pingback: دانلود قسمت اول فصل دوم شهرزاد

  46. Pingback: Ben

  47. Pingback: medical college in India with 45% marks

  48. Pingback: porno gratis

  49. Pingback: porno gratis

  50. Pingback: porno

  51. Pingback: videos porno

  52. Pingback: videos porno

  53. Pingback: porno

  54. Pingback: porno

  55. Pingback: porno gratis

  56. Pingback: قیمت پنجره دوجداره در ایران

  57. Pingback: sagittarius man said he loves me

  58. Pingback: پنجره دو سه جداره ساخت فروش در ایران

  59. Pingback: ساخت پنجره دوجداره

  60. Pingback: پنجره دوجداره ویستابست

  61. Pingback: Acne Facial Treatments Sunrise

  62. Pingback: Facial Spa Services Fort Lauderdale

  63. Pingback: Acne Facial Treatments Tamarac

  64. Pingback: فروش توری

  65. Pingback: پنجره

  66. Pingback: best casino to gamble

  67. Pingback: pron

  68. Pingback: compare hotel prices website

  69. Pingback: cheap jordans shoes

  70. Pingback: en savoir plus

  71. Pingback: jake burgess east berlin ct

  72. Pingback: cr gems hack

  73. Pingback: male speedo

  74. Pingback: پنجره

  75. Pingback: پنجره دوجداره

  76. Pingback: magazin de pescuit

  77. Pingback: coin-banks.com

  78. Pingback: DraftKings

  79. Pingback: valuable vintage topps baseball cards

  80. Pingback: le site

  81. Pingback: anime

  82. Pingback: کول دانلول

  83. Pingback: پنجره دوجداره

  84. Pingback: دانلود شهرزاد قسمت 15 پانزده

  85. Pingback: دانلود شهرزاد قسمت سیزده 13

  86. Pingback: Strasbourg

  87. Pingback: Social Media Marketing

  88. Pingback: TRUSSARDI BAGS

  89. Pingback: http://www.getthebigpicture.com/blog/Marketing-So-Great-You-Can-Taste-It

  90. Pingback: cars

  91. Pingback: 16 دانلود سریال شهرزاد

  92. Pingback: air conditioner repair

  93. Pingback: Roofing Contractors Long Island

  94. Pingback: Malena

  95. Pingback: Reklamnaja prezentacija

  96. Pingback: 食品

  97. Pingback: دانلود عالیجناب قسمت اول

  98. Pingback: work from home

  99. Pingback: دانلود سریال عالیجناب قسمت اول 1

  100. Pingback: دانلود

  101. Pingback: kids cars

  102. Pingback: دانلود قسمت دوم عالیجناب

  103. Pingback: game

  104. Pingback: پنجره ضد سرقت ترک

  105. Pingback: شرکت تولیدی پنجره دوجداره المانی

  106. Pingback: فروش توری

  107. Pingback: hip hop promotion

  108. Pingback: House Cleaning harker heights TX

  109. Pingback: le lien

  110. Pingback: Limo Vancouver BC

  111. Pingback: free delivery codes

  112. Pingback: دانلود فیلم سریال

  113. Pingback: aws online course

  114. Pingback: دانلود فیلم با کیفیت

  115. Pingback: buy home

  116. Pingback: Videos dominicanos

  117. Pingback: دانلود فیلم

  118. Pingback: how to buy bitcoin

  119. Pingback: پنجره دوجداره

  120. Pingback: upvc

  121. Pingback: ключар

  122. Pingback: پنجره

  123. Pingback: شرکت تولیدی پنجره دوجداره

  124. Pingback: پنجره دوجداره

  125. Pingback: how to buy weed online

  126. Pingback: SEO Sheffield

  127. Pingback: google ch porn

  128. Pingback: agen judi bola 99

  129. Pingback: Mitch McConnell

  130. Pingback: milpitas podiatrist

  131. Pingback: grafisch.LinkStartup.nl

  132. Pingback: Miami Limo Service

  133. Pingback: https://www.youtube.com/watch?v=Bld2NoB1hBI

  134. Pingback: coloring pages for girls

  135. Pingback: walmart1 login

  136. Pingback: buy proxies

  137. Pingback: mobiles

  138. Pingback: دانلود

  139. Pingback: دانلود

  140. Pingback: download best

  141. Pingback: Yakima Seo Services

  142. Pingback: google ch porn

  143. Pingback: Read More Here

  144. Pingback: پنجره دوجداره

  145. Pingback: Portal

  146. Pingback: پنجره دوجداره

  147. Pingback: garden

  148. Pingback: uk top 40 youtube

  149. Pingback: http://www.ukinternetdirectory.net/latest-links.html

  150. Pingback: wondagurl type beat

  151. Pingback: zobacz

  152. Pingback: video blog

  153. Pingback: usi tech info

  154. Pingback: disconnected undercut http://haircutinspiration.com/disconnected-undercut/

  155. Pingback: http://ent-infections.com

  156. Pingback: nikon d5300 price in delhi

  157. Pingback: zumbido no ouvido e tontura é grave

  158. Pingback: maintenance

  159. Pingback: gay porn

  160. Pingback: Web Design

  161. Pingback: divided

  162. Pingback: karaj

  163. Pingback: دانلود فیلم

  164. Pingback: tools kitchen

  165. Pingback: real online casinos

  166. Pingback: casinos online for money

  167. Pingback: download movie

  168. Pingback: Solutions Manual

  169. Pingback: window

  170. Pingback: download

  171. Pingback: پنجره دوجداره

  172. Pingback: download movie

  173. Pingback: پنجره

  174. Pingback: carte grise

  175. Pingback: Bad Credit Remortgages

  176. Pingback: real estate theme wordpress premium

  177. Pingback: Self Storage Units and Facilities in Jefferson on River Road

  178. Pingback: Judi Online

  179. Pingback: recruitment

  180. Pingback: best plastic surgeon in houston

  181. Pingback: BTS Spring Day MV Hot Asians Have Big Orgy On Train

  182. Pingback: Stop Motion

  183. Pingback: cooker repairs west london

  184. Pingback: watch porn google

  185. Pingback: Spiderman

  186. Pingback: cheap foamposites

Leave a Reply

Scroll To Top