TopMortgage Compliance Update (1)
 

September 13, 2012 

 


HUD: Causes of Administrative Actions


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Greetings! 

The Department of Housing and Urban Development (HUD) has published the Administrative Actions taken by the Mortgagee Review Board (MRB) against certain FHA mortgagees. The issuance, published in the Federal Register on September 10, 2012, covers administrative actions against mortgagees from August 1, 2011 to December 31, 2011.

The MRB has the authority to issue Settlement Agreements, Civil Money Penalties, Withdrawals of Federal Housing Administration (FHA) Approval, Suspensions, Probations, Reprimands, and Administrative Payments.

Or to put this in more modern parlance, the MRB is empowered to enforce administrative sanctions, including reprimand, probation, suspension or withdrawal of approval, cease-and-desist orders, and civil money penalties

Trust me - you don't want to go there!
Regards,
Jonathan Foxx
President & Managing Director
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Department of Housing and Urban Development

Mortgagee Review Board:
Administrative Actions

Federal Register: 77/175

September 10, 2012

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