Thursday, June 7, 2012

Probe Widens Into Mortgage Lenders

U.S. attorneys are increasing their scrutiny of FHA lenders, having recouped $1 billion in losses for the agency from Bank of America, Deutsche Bank, Citigroup, and Flagstar, and issued subpoenas for information from others. The probes indicate that Washington does not want taxpayers to cover FHA losses and could prompt lenders to use more caution when making FHA-insured loans. Source: "Probe Widens Into Mortgage Lenders," The Wall Street Journal (06/07/12)

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