Financial Freedom Senior Funding Corp. said it has been approved as a lender for the Department of Housing and Urban Development's reverse mortgage, the home equity conversion mortgage.

"Our FHA approval comes at a great time for scores of senior homeowners in Los Angeles, San Francisco, and Orange and San Diego counties who were left hanging" by a federal crackdown last month, said Jim Mahoney, senior vice president of Financial Freedom Senior Funding. The government disqualified companies that were charging high fees for free government information.

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