Center for Public Integrity

Investigation Finds Criminals Making FHA Loans

By Carrie Bay | 09/10/2010

The Federal Housing Administration (FHA) has failed to root out several executives with criminal records whose firms continue to do business with the agency, according to the Center for Public Integrity. The Center's investigation found that more than 34,000 home loans have been issued over the past two years by FHA-approved lenders that have employed people who were convicted of felonies, banned from the securities industry, or previously worked for firms barred by FHA. Nine percent of these loans are delinquent.
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Former Fannie Mae Exec Claims GSE Mismanaged HAMP

By Carrie Bay | 08/09/2010

A former Fannie Mae VP has gone public with accusations that the nation's largest mortgage company mishandled its stewardship of the Home Affordable Modification Program (HAMP). The whistleblower claims that HAMP was impeded by intentional delays and slip-ups because Fannie executives placed their institution's short-term financial interests above helping homeowners avoid foreclosure. A spokesperson for Fannie Mae told DSNews.com that there is "no merit to [the] allegations."
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