News & Analysis as of

Fair Housing Act (FHA) Underwriting

Bradley Arant Boult Cummings LLP

FHA Changes its Defect Taxonomy for Originators and Services

Over the past month, the Federal Housing Administration (FHA) has enacted and proposed several changes to its Defect Taxonomy. The Defect Taxonomy is contained in Appendix 8 to FHA Handbook 4000.1. The Defect Taxonomy was...more

Goodwin

DOJ Investigates FHA Loans Issued by Florida-Based Mortgage Subsidiary

Goodwin on

On January 25, 2018, a Florida-based homebuilder filed its Form 10-K annual report with the Securities and Exchange Commission (SEC), disclosing that its “mortgage subsidiary has been subpoenaed by the United States...more

Goodwin

Court Awards Nearly $280 Million in Treble Damages Against Former FHA Lender

Goodwin on

On September 14, 2017, the U.S. District Court for the Southern District of Texas issued an opinion and order against two former mortgage companies and their former president and CEO. The order, which followed a previous jury...more

Goodwin

HUD Bans Mortgage Lender from Originating FHA-Insured Loans Because of False Financial Statements

Goodwin on

On July 11, 2017, the United States Department of Housing and Urban Development (HUD) announced that its Mortgagee Review Board had suspended a national mortgage lender from originating and underwriting new mortgages insured...more

Goodwin

Mortgage Lender Pays $4.157 Million to Settle False Claims Act Allegations Concerning FHA Loans

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On July 3, 2017, the United States Department of Housing and Urban Development (HUD), the HUD Office of Inspector General (HUD-OIG), the U.S. Attorney’s Office for the Northern District of Georgia, and the U.S. Attorney’s...more

Goodwin

DOJ Secures $83 Million Settlement Over Alleged FHA Underwriting Violations

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On September 29, the U.S. Department of Justice (DOJ) announced that it had secured a settlement from a national lender, resolving allegations that the lender violated the False Claims Act, Program Fraud Civil Remedies Act,...more

Locke Lord LLP

Insurance & Reinsurance Newsletter

Locke Lord LLP on

In Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., 135 S. Ct. 2507 (2015), one of the most watched cases of 2015, the Supreme Court held that plaintiffs may rely on a disparate impact...more

Locke Lord LLP

Texas Department of Housing and Community Affairs and Its Potential Impact on Underwriting Policies and Procedures

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In Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., 135 S. Ct. 2507 (2015), one of the most watched cases of 2015, the Supreme Court held that plaintiffs may rely on a disparate impact...more

Pullman & Comley, LLC

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 3 of 3)

Pullman & Comley, LLC on

This is the final article of a three-part series about two recent decisions by federal courts in Connecticut and California: Viens v. America Empire Surplus Lines Ins. Co., No. 3:14cv952 (D. Conn. June 23, 2015), and Jones v....more

Pullman & Comley, LLC

Not-So-Sudden Impact: Insurers Face A New Breed Of Claim Under the Fair Housing Act (Part 1 of 3)

Pullman & Comley, LLC on

Late in June, in Texas Dept. of Housing v. Inclusive Communities, No. 13–1371 (U.S. June 25, 2015), the U.S. Supreme Court ended years of debate by embracing a “disparate impact” claim against a housing authority under the...more

Goodwin

FHA Attempt To Provide New Guidance: Too Little, Too Late?

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On June 18, the Federal Housing Administration provided lenders with a new Defect Taxonomy for Single Family Housing Loans, or Loan Quality Assessment Methodology. It has been working on the new taxonomy for almost a year,...more

Akin Gump Strauss Hauer & Feld LLP

The SAVE Act – Valuing Energy Savings

Consumers interested in energy-efficient homes will benefit if a recent bill, called the SAVE Act (Sensible Accounting to Value Energy), becomes law. The law, if enacted, would require Fannie Mae, Freddie Mac and the Federal...more

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