While most of the country spent the early part of this week consumed by fireworks and consuming copious amounts of hot dogs and hamburgers, one mortgage lender found itself joining a list that includes Wells Fargo, Walter Investment, Freedom Mortgage, and many more. On Monday, the Department of Justice announced that Prospect Mortgage will pay more than $4 million to settle allegations that that the company committed civil mortgage fraud by underwriting mortgages that did not comply with FHA standards. …read more
From:: Real Estate Wire