The US Department of Housing and Urban Development (HUD) last week served subpoenas on 15 mortgage companies nationwide seeking information on failed FHA loans. The subpoenas part of a program reviewing FHA approved mortgage lenders with “significant” foreclosure rates.
The companies are:
•First Tennessee Bank, Memphis, TN
•Alethes, Lakeway, TX
•Security Atlantic Mortgage Co., Edison, NJ
•Pine State Mortgage Corporation, Atlanta, GA
•Birmingham Bancorp Mortgage Corporation, West Bloomfield, MI
•Alacrity Financial Services, Southlake, TX
•Assurity Financial Services, Englewood, CO
•D and R Mortgage Corporation, Farmington, MI
•Webster Bank, Cheshire, CT
•Mac-Clair Mortgage Corporation, Flint, MI
•Americare Investment Group, Inc., Arlington, TX
•1st Advantage Mortgage, Lombard, IL
•American Sterling Bank, Independence, MO
•Sterling National Mortgage Company, Great Neck, NY
•Dell Franklin Financial, Columbia, MD