Another DOJ/FHA Settlement; Risk Sharing Heating Up; Vendor Announcement Mania

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Posted To: Pipeline Press

Flying to Boston for the MBA’s conference? Here’s a view you won’t see. But probably a more important question is, “Is your cyber secure?” The FFIEC just published some frequently asked questions about cybersecurity worth a read for anyone who has a computer. Another week, another settlement with the DOJ over FHA loans. First American Mortgage Trust , which does business as NXTLoan.com, and CEO Barry Polack, will pay $1.025 million to settle charges brought by the Department of Justice , which accused the mortgage lender of submitting false claims on mortgages insured by the Federal Housing Administration. Allegedly First American ignored the FHA’s due diligence requirements and falsely certified that First American loans qualified for FHA insurance when they actually did not -…(read more)

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