2009-11-02 — housingwire.com
" The board is proposing HUD permanently withdraw the HUD and FHA approval of Financial Mortgage USA, a Honolulu-based home equity conversion mortgage (HECM) lender, because the company allegedly failed to implement an FHA-required quality control plan; separate its lending operations from those of its affiliated insurance company; conform to prudent lending practices; and properly provide borrowers with housing counseling services."
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