Holding the Mortgage Industry Accountable

Overview

HUD's mission is to strengthen the housing market and ensuring consumers have fair and informed access to housing. HUD takes strong action to hold the mortgage industry accountable for the products and services they provide to families who are either seeking to buy or rent a home or struggling to keep the home they have.

For example, HUD constantly monitors lenders who are approved by the Federal Housing Administration (FHA). By evaluating loan performance, FHA can identify those lenders who fail to apply the agency's standards when originating, underwriting or servicing mortgages.
In addition, HUD's Mortgagee Review Board can take strong action against lenders who fall short of their responsibilities to adhere to FHA's guidelines.

HUD's Office of the Inspector General can also investigate allegations of improper lending and servicing behavior in the housing market. In the most extreme cases of alleged misconduct, HUD may event refer particular cases for the U.S. Department of Justice for action.

Historically, HUD also investigated alleged violations involving the Real Estate Settlement Procedures Act (RESPA) and the Interstate Land Sales Full Disclosure Act (ILS). Regulatory oversight of these two areas now falls under the jurisdiction of the Consumer Financial Protection Bureau.
 

Press Releases

Tuesday, October 9, 2012
MANHATTAN U.S. ATTORNEY FILES MORTGAGE FRAUD LAWSUIT AGAINST WELLS FARGO BANK, N.A. SEEKING HUNDREDS OF MILLIONS OF DOLLARS IN DAMAGES FOR FRAUDULENTLY CERTIFIED LOANS

Tuesday, August 28, 2012
UNITED STATES REACHES LENDING DISCRIMINATION SETTLEMENT WITH GFI MORTGAGE BANKERS INC.

Thursday, May 10, 2012
HUD, HUD INSPECTOR GENERAL AND U.S. ATTORNEY ANNOUNCE $202 MILLION SETTLEMENT WITH DEUTSCHE BANK AND MORTGAGEIT

Monday, April 16, 2012
HUD INDEFINITELY DEBARS FOUR INDIVIDUALS FOLLOWING REVERSE MORTGAGE SCAM THAT TARGETED SENIORS

Friday, February 24, 2012
FEDERAL GOVERNMENT SETTLES MORTGAGE FRAUD LAWSUIT AGAINST FLAGSTAR BANK

Wednesday, February 15, 2012
FEDERAL GOVERNMENT SETTLES FRAUD LAWSUIT AGAINST CITIMORTGAGE, INC. FOR RECKLESS MORTGAGE LENDING PRACTICES

Thursday, February 9, 2012
$1 BILLION TO BE PAID BY THE BANK OF AMERICA TO THE UNITED STATES LARGEST FALSE CLAIMS ACT SETTLEMENT RELATING TO MORTGAGE FRAUD

Thursday, February 9, 2012
FEDERAL GOVERNMENT AND STATE ATTORNEYS GENERAL REACH $25 BILLION AGREEMENT WITH FIVE LARGEST MORTGAGE SERVICERS TO ADDRESS MORTGAGE LOAN SERVICING AND FORECLOSURE ABUSES

Thursday, November 3, 2011
HUD REACHES SETTLEMENT WITH CONNECTICUT LENDER ACCUSED OF 'MATERNITY DISCRIMINATION'

Wednesday, October 12, 2011
HUD SUSPENDS FORMER PRESIDENT OF LEND AMERICA

Wednesday, July 13, 2011
HUD SETTLES ALLEGATIONS THAT PROSPECT MORTGAGE VIOLATED RESPA AND FHA REPORTING REQUIREMENTS

Monday, July 11, 2011
HUD SETTLES RESPA KICKBACK CASE AGAINST FIDELITY NATIONAL FINANCIAL

Friday, May 20, 2011
HUD ANNOUNCES $1.2 MILLION SETTLEMENT WITH U.S. BANK

Friday, April 8, 2011
FHA'S MORTGAGEE REVIEW BOARD ANNOUNCES SETTLEMENT WITH FIRST AMERICAN MORTGAGE TRUST

Thursday, March 17, 2011
CHARLES SCHWAB BANK TO PAY $30,000 TO SETTLE DISCRIMINATION COMPLAINT INVOLVING BORROWER WITH DISABILITIES

Tuesday, March 1, 2011
HUD AWARDS OVER $40 MILLION IN GRANTS TO FIGHT HOUSING AND LENDING DISCRIMINATION

Tuesday, December 21, 2010
HUD, FIRST NATIONAL BANK OF ST.LOUIS REACH AGREEMENT TO INCREASE INVESTMENT IN LOW-INCOME AND MINORITY COMMUNITIES

Monday, December 13, 2010
FHA TAKES ACTION AGAINST CAMBRIDGE HOME CAPITAL

Wednesday, December 08, 2010
HUD TO INVESTIGATE ALLEGATIONS THAT 22 BANKS AND MORTGAGE LENDERS DISCRIMINATE AGAINST AFRICAN AMERICAN AND LATINO LOAN SEEKERS

Friday, October 8, 2010
HUD PROPOSES TO STRENGTHEN FHA LENDER INDEMNIFICATION PROCESS

Wednesday, July 21, 2010
HUD TO INVESTIGATE MORTGAGE LENDERS WHO DISCRIMINATE AGAINST EXPECTANT MOTHERS AND NEW PARENTS

Wednesday, July 7, 2010
FHA ANNOUNCES ENHANCED RISK MANAGEMENT AND INCREASED OVERSIGHT OF MULTIFAMILY LENDERS AND UNDERWRITERS

Thursday, June 17, 2010
OVER 400 DEFENDANTS CHARGED FOR ROLES IN MORTGAGE FRAUD SCHEME

Monday, January 25, 2010
FHA WITHDRAWS THREE LENDERS, SUSPENDS A FOURTH

Monday, January 25, 2010
FHA AND GINNIE MAE TAKE ACTION AGAINST TOPDOT MORTGAGE

Tuesday, January 12, 2010
HUD AND STATE OF ALASKA SETTLE ALLEGED KICKBACK CASE AGAINST ALYESKA TITLE GUARANTY AGENCY

Tuesday, January 12, 2010
HUD INSPECTOR GENERAL PROBES MORTGAGE COMPANIES WITH SIGNIFICANT CLAIM RATES

Friday, December 11, 2009
FHA AND EQUITABLE TRUST MORTGAGE CORP. REACH A SETTLEMENT AGREEMENT

Tuesday, August 4, 2009
FHA SUSPENDS TAYLOR, BEAN WHITAKER MORTGAGE CORP. AND PROPOSES TO SANCTION TWO TOP OFFICIALS

 

Mortgagee Review Board Actions
Monitoring and Sanctions
Stopping Financial Fraud

President Obama established the Financial Fraud Enforcement Task Force in November 2009 to hold accountable those who helped bring about the last financial crisis as well as those who would attempt to take advantage of the efforts at economic recovery. Examples of financial fraud include situations in which homebuyers or lenders falsify information to obtain a home loan or so-called foreclosure rescue companies who prey on families struggling to keep their homes. Read more.
 

HUD's Office of Inspector General

HUD's Office of Inspector General (OIG) is committed to protecting HUD's programs and taxpayers' dollars from unscrupulous individuals and corporations who take advantage of the housing programs administered by HUD. In addition to investigating suspected cases involving waste, fraud and abuse, HUD's OIG also works to prevent fraud from occurring in the first place. Read more.