Industry News

National City’s loan underwriting standards probed

HUD audit finds falsified data on defaulted loans
Published on Aug 15, 2006

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

A government audit of 41 FHA-backed mortgage loans made by National City Bank and that later ended up in default found that nearly half didn’t meet federal underwriting standards. The audit found National City didn’t verify employment histories and credit ...

Comments