FHA: Mortgagee Review Board - Administrative Actions

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Periodically, we review with you the types of administrative actions taken by HUD's Mortgagee Review Board (MRB).

The review of the MRB's published administrative actions should be considered a teaching moment for all FHA approved mortgagees, inasmuch as the MRB is empowered to enforce its administrative sanctions through, among other things, reprimand, probation, suspension or withdrawal of approval and/or underwriting authority, cease-and-desist orders, and civil money penalties.

On April 11, 2013 HUD published the administrative actions taken by the Mortgagee Review Board (MRB) against certain FHA mortgagees. The period covered in the issuance is January 1, 2012 to September 30, 2012.

In this article, I provide an outline of the kinds of violations and respective sanctions that the MRB recently sustained.

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IN THIS ARTICLE

A Word to the Wise

Rule of Thumb

Administrative Actions

Library

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Published In: Administrative Agency Updates, Civil Remedies Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Jonathan Foxx, Lenders Compliance Group | Attorney Advertising

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