Earlier this week, we wrote a post, in part, on the FHA’s plan to crack down on unscrupulous lenders. You can read the post here.
According to an article published in The Wall Street Journal on Tuesday, the FHA is making good on its promise. It suspended Home Mortgage Inc. for six months and pulled the licenses of three other lenders, Strategic Mortgage Corp., ProMortgage Inc., and Americare Investment Group Inc. The FHA said that Strategic Mortgage Corp. and ProMortgage did not uphold the FHA’s loan standards, Americare violated previous settlement terms, and Home Mortgage was suspended for failing to disclose an owner’s indictment. You can read the full article here.
Present Value is an FHA certified appraisal company.
