Rules and Regulations. Notice

Agency: Office of the Assistant Secretary for Housing-Federal Housing Commissioner, HUD
Action: Notice
Citation: FR Doc. 02-16515 · Docket No. FR-4558-N-10

Summary

In compliance with section 202(c) of the National Housing Act, this document provides notice of the cause and description of administrative actions taken by HUD's Mortgagee Review Board against HUD-approved mortgagees.

Supplementary Information

Section 202(c)(5) of the National Housing Act (added by section 142 of the Department of Housing and Urban Development Reform Act of 1989, Pub. L. 101-235, approved December 15, 1989) requires that HUD publish a description of and the cause for administrative actions against a HUD-approved mortgagee by the Department's Mortgagee Review Board. In compliance with the requirements of section 202(c)(5), this document gives notice of administrative actions that have been taken by the Mortgagee Review Board from October 1, 2001 through March 31, 2002, for failure to submit the required annual audit statement, an acceptable annual audited financial statement, and/or the required annual recertification fee. Title I Lenders and Title II Mortgagees That Failed To Comply With HUD/FHA Requirements for the Submission of an Audited Annual Financial Statement and/or Payment of the Annual Recertification Fee Action: Withdrawal of HUD/FHA Title I lender approval and Title II mortgagee approval. Cause: Failure to submit to the Department the required annual audited financial statement, an acceptable annual audited financial statement, and/or remit the required annual recertification fee. 66 Title I Lenders and Loan Correspondents Terminated Between October 1, 2001 and March 31, 2002 Lender name City State A S H ELITE FUNDING CORP LOS ANGELES CA AEGIS SECURITIZED ASSETS INC MARIETTA GA ALAMOGORDO FEDERAL S-L ASSN ALAMOGORDO NM ALL PACIFIC FINANCIAL INC ENCINO CA ALLIED LENDING CORPORATION TUSTIN CA ANCHORBANC MORTGAGE CORPORATION WEST CONVINA CA APEX MORTGAGE CORPORATION STANTON CA ARBOR LENDING CORP MIAMI FL BANKERS MORTGAGE GROUP WOODLAND HILLS CA CALIF CHARTERED GROUP FINANCIAL CORP DIAMOND BAR CA CAPITAL ACCEPTANCE CORPORATION INDIANAPOLIS IN CITYWIDE BANKS AURORA CO CONSORCIO LENDING INC FONTANA CA COOP AHY CR EMPL PUEBLO INC CAROLINA PR CRUSADER BANK PHILADELPHIA PA DARWAL CORPORATION OXNARD CA EAGLE FUNDING CORPORATION RANCHO CORDOVA CA EAST WEST FINANCIAL CORP MARGATE FL EXPRESS FINANCIAL CORP BOCA RATON FL F AND M BANK WATERTOWN SD FIRST CALIFORNIA LENDING SERV COVINA CA FIRST CHOICE LOANS INC COVINA CA FIRST FREEDOM FINANCIAL INC RANCHO CUCAMONGA CA FIRST NATIONAL BANK TONKAWA OK FIRST SECURITY STATE BANK DETROIT LAKES MN FIRST SUBURBAN CORP MTG BANKERS SANTA ANA HEIGHTS CA FUNDING CENTRE INC FAIR OAKS CA GIBRALTAR SAVINGS BANK SLA NEWARK NJ HEARTLAND COMMUNITY BANK CAMDEN AR HERITAGE PLAZA MORTGAGE INC STOCKTON CA HILTON FINANCIAL GROUP VICTORVILLE CA INTERBANK FUNDING GROUP SAN DIEGO CA INTERSTATE MORTGAGE ALLIANCE CORP RANCHO CUCAMONGA CA LAMAS LOANS INC PLEASANTON CA LEGEND FINANCIAL GROUP INC POWAY CA LENDERS SPECTRUM MORTGAGE CORP LAKE ELSINORE CA M AND I LAKEVIEW BANK SHEBOYGAN WI MAINSTREET MORTGAGE MAKERS INC ROSWELL GA MERIT MORTGAGE INC PLANO TX MORTGAGE MAX INC POWAY CA MORTGAGE ONE CORPORATION HESPERIA CA N I PACIFICA INC COSTA MESA CA NATIONAL EXPRESS MORTGAGE CORP LA PALMA CA NATIONS MORTGAGE CORPORATION WINTER SPRINGS FL NEWWEST MORTGAGE CO DOWNEY CA NTM INC TURLOCK CA OLYMPIAN MORTGAGE CORP TAMPA FL PAVON FINANCIAL CORPORATION DOWNEY CA PENINSULA COMMUNITY FED CU SHELTON WA PEOPLES BANK MARION KY POWER FUNDING GROUP INC WILLIAMSVILLE NY QUEST HOME LOANS INC OXNARD CA RAVENNA SAVINGS BANK RAVENNA OH SALIDA BUILDING AND LOAN ASSOCIATION SALIDA CO SEASONS MORTGAGE GROUP INC RICHMOND VA SECURITY SAVINGS ASSN HAZELTON PA SMC LENDING INC TEMECULA CA SOUTHERN CAPITAL RESOURCES BIRMINGHAM AL SOUTHERN MORTGAGE INVESTMENT CORP MARIETTA GA SUPERIOR BANK FSB OAKBROOK TERRACE IL TUCKER FEDERAL BANK AUGUSTA GA U S MORTGAGE AND ACCEPTANCE CORP TUSTIN CA ULTIMATE FUNDING CORP TUSTIN CA VPM FUNDING COMPANY DENVER CO WESTLEND FINANCING INC LOS ANGELES CA 94 Title II Mortgagees and Loan Correspondents Terminated Between October 1, 2001 and March 31, 2002 Mortgagee name City State ACCESS FINANCIAL GROUP FOUNTAIN VALLEY CA ALAMOGORDO FEDERAL SAVINGS AND LN ASSN ALAMOGORDO NM AMERICAN CHARTER MORTGAGE DOWNEY CA AMERICAN HOMEBUYING CENTER INC LA PALMA CA AMERIPRIDE MORTGAGE INC CORAL SPRINGS FL ARBOR LENDING CORP MIAMI FL BAYPORT MORTGAGE LP LAKEWOOD WA BELL MORTGAGE CORP CHINO CA BINH DINH TRAN HUNTINGTON BEACH CA BLAIR MORTGAGE COMPANY INCORP DANVILLE CA BUILDERS MORTGAGE SERVICES LP ALTAMONTE SPRINGS FL CALIFORNIA CHARTERED GROUP FIN DIAMOND BAR CA CALIFORNIA WHOLESALE LENDERS INC NEW HALL CA COMMERCE BANK OF AURORA AURORA CO COMMUNITY MORTGAGE CORP HAGATNA GU COUNTY BANK FOREST LAKE MN CRB TRUST MORTGAGE LTD MIAMI FL DACKO FINANCIAL INC PAHRUMP NV DICKINSON LOGAN TODD BARBER RALEIGH NC EAGLE FUNDING CORPORATION RANCHO CORDOVA CA EDGR FINANCIAL INC OFALLON MO FAMILY HOME MORTGAGE CO INC DANBURY CT FEDERAL MORTGAGE FUNDING INC LEMON GROVE CA FIDELITY FINANCIAL MORTGAGE CORP NORCROSS GA FINANCE PLUS REAL ESTATE CHULA VISTA CA FIRESIDE MORTGAGE CO ENGLEWOOD CO FIRST AMERICANS MORTGAGE CORP OVERLAND PARK KS FIRST CHOICE LOANS INC COVINA CA FIRST FEDERAL SAVINGS AND LOAN GALION OH FIRSTLINE MORTGAGE INC LONG BEACH CA FREESTATE MORTGAGE COMPANY INC TOWSON MD GENESIS MORTGAGE CORPORATION EVANSTON IL GLOBAL HOLDINGS II LLC KIRKLAND WA GRAFTON SUBURBAN CREDIT UNION NORTH GRAFTON MA GUARDIAN SAVINGS AND LOAN ASSOCIATION HOUSTON TX HARRIS-CHAMBERLAIN COMPANY FORT WORTH TX HILTON FINANCIAL GROUP VICTORVILLE CA HOME FUNDING GROUP INC WALNUT CA HOMEQUEST MORTGAGE CORPORATION NEWPORT BEACH CA HOMESTEAD SAVINGS BANK FSB ALBION MI HUDSON RIVER MORTGAGE CORPORATION ALBANY NY IAG MORTGAGE SERVICES TEMPLE TX INDEPENDENT ADVISORS MTG CORP BLOOMINGDALE IL INTERBANK FUNDING GROUP SAN DIEGO CA INTERNATIONAL BROTHERHOOD WKRS WASHINGTON DC IROQUOIS FEDERAL SAVINGS AND LOAN ASSN WATSEKA IL K AND R FINANCIAL INC LARGO FL KATY FINANCIAL SERVICES LP KATY TX KINGWAY CAPITAL INC WESTLAKE VILLAGE CA LAMAS LOANS INC PLEASANTON CA LAUREL SAVINGS BANK ALLISON PARK PA LENDERS SPECTRUM MORTGAGE LAKE ELSINORE CA LIBERTY FEDERAL BANK S B EUGENE OR LILAC CITY MORTGAGE INC SPOKANE WA LOANCOR INC CARLSBAD CA LOANGENIE-COM INC IRVINE CA MCA MORTGAGE CORPORATION SOUTHFIELD MI MEMBERS LOAN SERVICES SAN DIEGO CA MERIT FINANCIAL CORPORATION PARSIPPANY NJ MIDWEST MORTGAGE CONNECTION INC LAKE IN THE HILLS IL MILE HIGH MORTGAGE SERVICES LLLP DENVER CO MORNING STAR REAL EST AND MTG FIN CORP MASSAPEQUA NY MORTGAGE CLIK INC ALBUQUERQUE NM OLYMPIAN MORTGAGE CORPORATION TAMPA FL PAVON FINANCIAL CORPORATION DOWNEY CA PEOPLES MORTGAGE COMPANY LP LAREDO TX PERMANENT FEDERAL SAVINGS BANK EVANSVILLE IN PLUM CREEK FINANCIAL CORP CASTLE ROCK CO PONCE DE LEON FEDERAL SAVINGS AND LOAN CORAL GABLES FL PRESTAR FINANCIAL CORPORATION SANTA ANA CA PRIME TIME LENDING INC CARLSBAD CA PROGRESSIVE MORTGAGE CORP ELK GROVE CA ROYAL MORTGAGE PARTNERS LP ORANGE CA SALCORP MORTGAGAE LAGUNA HILLS CA SALIDA BUILDING AND LOAN ASSOCIATION SALIDA CO SAMMELMAN MORTGAGE INC WES COVINA CA SIMPLIFIED MORTGAGE GROUP INC TROY MI SMC LENDING INC TEMECULA CA SOMMERS FINANCIAL INC LONG BEACH CA SOUTHERN FIRST MORTGAGE CORP DURHAM NC STARNET MORTGAGE DALLAS TX SUGAR BEACH LLC MEMPHIS TN SUPERIOR BANK FSB OAKBROOK TERRACE IL TAYLOR COUNTY BANK CAMPBELLSVILLE KY TDC MORTGAGE CORP LAS VEGAS NV TRINITY MORTGAGE CO OF DALLAS LAFAYETTE IN ULTIMATE FUNDING CORP TUSTIN CA UNI-STATE FUNDING INC BIG BEAR LAKE CA US MORTGAGE CAPITAL INC ROCKVILLE MD WALDOBORO BANK FSB WALDOBORO ME WASHINGTON MORTGAGE INVESTMENT CORP ROCKVILLE MD WASHINGTON SAVINGS ASSOCIATION PHILADELPHIA PA WENTWORTH ENTERPRISES INC FREMONT CA WESTERN HILLS MORTGAGE CORP GARDEN GROVE CA Dated: June 26, 2002. John C. Weicher, Assistant Secretary for Housing-Federal Housing Commissioner, Chairman, Mortgagee Review Board. [FR Doc. 02-16515 Filed 6-28-02; 8:45 am]