Quicken Loans sues feds
The FHA program provides mortgage default insurance to lenders such as Quicken Loans, unhealthy recipe which can make a claim on a federal fund within HUD if a loan goes bad. FHA loans are popular among borrowers with lower income or lower credit scores who might …
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Federal Mortgage Agency Says More Needed to Police Nonbank Lenders
The pullback has left an opening for nonbank lenders, this web such as loanDepot LLC and Guild Mortgage Co., to grab market share. Ginnie Mae, which backs mortgage securities that include FHA and other federally insured loans, expects nonbank lenders to …
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