Lender Quickly Settles Overcharge Case, FHA Violations with HUD
December 21, 2009
Barely a week after being suspended due to improper lending practices, a Baltimore-based lender agreed to pay the Department of Housing and Urban Development $277,500 in civil penalties and refund FHA borrowers for fee overcharges. Last week’s settlement agreement with Equitable Trust Mortgage Corp. is the latest in a series of enforcement actions taken by HUD to clamp down on abusive and predatory lending practices that may result in...