•Submitting fake certifications that an employee of the lender obtained directly from the borrower the information contained in the application ; •Approving loans that did not meet the minimum credit requirements; … •Failing to process a loan in accordance with HUD policy on employee loans; •Closing a loan with an excessive mortgage broker fee paid to an approved FHA Loan Correspondent; •Failing to provide the required documentation to support IMB’s choice to approve …
The rest is here:
Lend America: Feds Force FHA Lender to Shut Down | LoanWorkout.org
This expansion, the first group being for domestic money market mutual funds, is intended to enhance the capacity of such operations to drain reserves beyond what could likely be conducted through the New York Fed's traditional counterparties, the Primary Dealers. ... Michael Ashley, a former senior official with LendAmerica, a nationwide lender of U.S.-backed mortgages recently shut off from government programs, was permanently banned from the industry by the FHA . ...