Comments on: National City to pay $4.6 million for HUD violations http://blownmortgage.com/2008/05/23/national-city-to-pay-46-for-hud-violations/ #1 Free Home Loan Modification & Debt Relief Help For US Home Owners - Truths, Facts & News About the Mortgage Industry Sat, 07 Nov 2009 02:53:18 -0700 http://wordpress.org/?v=2.8.3 hourly 1 By: morganb http://blownmortgage.com/2008/05/23/national-city-to-pay-46-for-hud-violations/comment-page-1/#comment-12396 morganb Fri, 23 May 2008 12:51:03 +0000 http://blownmortgage.com/?p=1085#comment-12396 Louise - you're right. There is a ton of responsibility placed on the HUD<br>direct endorsed underwriter to use good judgment in approving FHA loans.<br>Delinquencies within the first 60 days clearly show that these loans are not<br>made with good judgment. Louise – you're right. There is a ton of responsibility placed on the HUD
direct endorsed underwriter to use good judgment in approving FHA loans.
Delinquencies within the first 60 days clearly show that these loans are not
made with good judgment.

]]> By: chris http://blownmortgage.com/2008/05/23/national-city-to-pay-46-for-hud-violations/comment-page-1/#comment-12397 chris Fri, 23 May 2008 12:33:40 +0000 http://blownmortgage.com/?p=1085#comment-12397 national city is a bunchof crooks national city is a bunchof crooks

]]> By: Louise http://blownmortgage.com/2008/05/23/national-city-to-pay-46-for-hud-violations/comment-page-1/#comment-12395 Louise Fri, 23 May 2008 12:23:00 +0000 http://blownmortgage.com/?p=1085#comment-12395 Past due loan payments within the first year is a very serious matter.<br>This is a clear indication of problems within underwriting. One does<br>wonder if payment of fines to HUD truly corrects the obvious problems<br>vs. a suspension of their ability to direct endorse underwrite.<br><br>Funny, NCB just ran a 1/2 page display ad in The Dayton Daily<br>News on 5/22/08 claiming: "National City is ranked as the 3rd<br>largest FHA lender in the country, assisting homeowners from<br>that first starter home to vacation home".<br><br>Well, no #$%@! And this at the hands of a bank and not a mortgage<br>broker! Let the media run with this story for a change. Past due loan payments within the first year is a very serious matter.
This is a clear indication of problems within underwriting. One does
wonder if payment of fines to HUD truly corrects the obvious problems
vs. a suspension of their ability to direct endorse underwrite.

Funny, NCB just ran a 1/2 page display ad in The Dayton Daily
News on 5/22/08 claiming: “National City is ranked as the 3rd
largest FHA lender in the country, assisting homeowners from
that first starter home to vacation home”.

Well, no #$%@! And this at the hands of a bank and not a mortgage
broker! Let the media run with this story for a change.

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