HUD's mortgagee review board came to settlement agreements with 12 mortgage lenders during the third fiscal quarter of 1994, two settlements shy the number of settlements registered during the previous quarter. But the board's activity is slightly off the torrid pace it set in fiscal year 1993.

HUD took the administrative action based on referrals from its monitoring division, and proposed settlements range from a $10,000 civil money penalty for one FHA lender to letters of reprimand and $500 civil money penalties for three others.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.