[Federal Register Volume 87, Number 75 (Tuesday, April 19, 2022)]
[Notices]
[Pages 23218-23227]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-08340]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-6317-N-01]


Mortgagee Review Board: Administrative Actions

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: In compliance with section 202(c)(5) of the National Housing 
Act, this notice advises of the cause and description of administrative 
actions taken by HUD's Mortgagee Review Board against FHA-approved 
mortgagees.

FOR FURTHER INFORMATION CONTACT: Nancy A. Murray, Secretary to the 
Mortgagee Review Board, 451 Seventh Street SW, Room B-133/3150, 
Washington, DC 20410-8000; telephone (202) 402-2701 (this is not a 
toll-free number). Persons with hearing or speech impairments may 
access this number through TTY by calling the Federal Information 
Service at (800) 877-8339 (this is a toll-free number).

SUPPLEMENTARY INFORMATION: Section 202(c)(5) of the National Housing 
Act (12 U.S.C. 1708(c)(5)) requires that HUD ``publish in the Federal 
Register a description of and the cause for administrative action 
against a[n FHA-approved] mortgagee'' by HUD's Mortgagee Review Board 
(``Board''). In compliance with the requirements of

[[Page 23219]]

section 202(c)(5), this notice advises of actions that have been taken 
by the Board in its meetings from the beginning of fiscal year 2021, 
October 1, 2020, through September 30, 2021, where settlement 
agreements have been reached as of February 28, 2022. The notice also 
includes one notice of administrative action (a withdrawal) which was 
issued in fiscal year 2019.

I. Civil Money Penalties, Withdrawals of FHA Approval, Suspensions, 
Probations, and Reprimands

1. Absolute Home Mortgage Corporation, Fairfield, NJ [Docket No. 20-
2122-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Absolute Home Mortgage Corporation (``Absolute Home 
Mortgage'') that included a civil money penalty of $15,067. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Absolute Home Mortgage (a) failed to 
timely notify FHA of a state sanction in fiscal year 2019; and (b) 
submitted a false certification to FHA concerning fiscal year 2019.

2. All Western Mortgage Inc d/b/a Ping Home Loans, Las Vegas, NV 
[Docket No. 21-2163-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with All Western Mortgage Inc. (``All Western'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: All Western failed to timely notify FHA 
of a state sanction in fiscal year 2019.

3. American Advisors Group, Orange, CA [Docket No. 20-2140-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with American Advisors Group (``American Advisor'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: American Advisors failed to timely 
notify FHA of a state sanction in fiscal year 2019.

4. American Federal Mortgage Corp., Chester, NJ [Docket No. 21-2171-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with American Federal Mortgage Corp. (``American 
Federal'') that included a civil money penalty of $15,067. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: American Federal (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

5. American Ken, Inc., Diamond Bar, CA [Docket No. 21-2174-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with American Ken Inc. (``American Ken'') that included a 
civil money penalty of $10,245. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: American Ken failed to timely notify FHA 
of a state sanction in fiscal year 2020.

6. American Neighborhood Mortgage Acceptance Co., Mount Laurel, NJ 
[Docket No. 20-2022-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with American Neighborhood Mortgage Acceptance Co. (``Annie 
Mac'') that included a civil money penalty of $218,000. The settlement 
did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Annie Mac serviced FHA-insured 
mortgages without the required state mortgage servicing license.

7. AmeriSave Mortgage Corporation, Atlanta, GA [Docket No. 20-2148-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with AmeriSave Mortgage Corporation (``AmeriSave'') that 
included a civil money penalty of $10,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: AmeriSave failed to timely notify FHA of 
a state sanction in fiscal year 2019.

8. Angel Oak Home Loans LLC, Atlanta, GA [Docket No. 21-2186-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Angel Oak Home Loans LLC (``Angel Oak'') that 
included a civil money penalty of $10,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Angel Oak (a) failed to timely notify 
FHA of an unresolved finding in fiscal year 2020; and (b) failed to 
timely notify FHA of a state sanction in fiscal year 2020.

9. Assent Mortgage, LLC, Irvine, CA [Docket No. 20-2026-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Assent Mortgage, LLC (``Assent'') that included a civil 
money penalty of $20,067, Assent seeking a voluntary withdrawal from 
the FHA program, and--after its withdrawal--Assent would refrain from 
applying to the FHA program for one year. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Assent (a) failed to disclose to FHA a 
sanction in fiscal year 2018 during the pendency of its FHA 
application; (b) submitted a false certification to FHA concerning 
fiscal year 2018; and (c) failed for fiscal year 2019 to remit its 
annual certification statements and to timely submit its audited 
financial statements and supplementary information.

10. Assurance Financial Group LLC, Baton Rouge, LA [Docket No. 20-2137-
MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Assurance Financial Group, LLC (``Assurance Financial 
Group'') that included a civil money penalty of $15,067. The settlement 
did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Assurance Financial Group (a) failed to 
timely notify FHA of a state sanction in fiscal year 2019; and (b) 
submitted a false certification to FHA concerning fiscal year 2019.

11. Atlantic Home Loans, Inc., Parsippany, NJ [Docket No. 21-2193-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement

[[Page 23220]]

agreement with Atlantic Home Loans, Inc (``Atlantic'') that included a 
civil money penalty of $5,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Atlantic failed to timely notify FHA of 
a state sanction in fiscal year 2020.

12. Blue Ridge Bank, N.A., Greensboro, NC [Docket No. 21-2208-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Blue Ridge Bank, N.A. (``Blue Ridge Bank'') 
that included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Blue Ridge failed to notify FHA of 
change in business structure in fiscal year 2021.

13. Bond Street Mortgage, LLC, Paramus, NJ [Docket No. 20-2147-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Bond Street Mortgage, LLC (``Bond Street'') 
that included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Bond Street failed to timely notify FHA 
of a state sanction in fiscal year 2019.

14. Castle & Cooke Mortgage LLC, Draper, UT [Docket No. 20-2100-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Castle & Cooke Mortgage LLC (``Castle & Cooke'') that 
included a civil money penalty of $15,245. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Castle & Cooke (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

15. CIS Financial Services, Inc., Hamilton, AL [Docket No. 20-2123-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with CIS Financial Services, Inc. (``CIS'') that 
included a civil money penalty of $10,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: CIS (a) failed to timely notify FHA of 
an operating loss in excess of 20 percent of its quarter-end net worth 
in fiscal year 2019; and (b) failed to submit to FHA the required 
quarterly financial statements following a quarterly loss exceeding 20 
percent of net worth.

16. CityWorth Mortgage LLC, Fairfax, VA [Docket No. 21-2205-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with CityWorth Mortgage LLC (``CityWorth'') that 
included a civil money penalty of $15,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: CityWorth (a) failed to maintain the 
required minimum adjusted net worth in fiscal year 2020; (b) failed to 
timely notify FHA that it did not meet the adjusted net worth 
requirement in fiscal year 2020; and (c) failed to timely notify FHA of 
an operating loss in excess of 20 percent of its quarter-end net worth 
in fiscal year 2020.

17. CU Mortgage Direct LLC, Sioux Falls, SD [Docket No. 20-2144-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with CU Mortgage Direct LLC (``CU'') that included 
a civil money penalty of $10,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: CU (a) failed to maintain the minimum 
required liquid assets for fiscal year 2019; and (b) failed to timely 
notify FHA that it did not meet the minimum liquid asset requirement in 
fiscal year 2019.

18. CWM Partners LP, Moore, OK [Docket No. 20-2018-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with CWM Partners LP (``CWM'') that included a civil money 
penalty of $5,000. The settlement did not constitute an admission of 
liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: CWM failed to timely notify FHA of a 
state sanction in fiscal year 2019.

19. DEVAL, LLC, Irving, TX [Docket No. 20-2124-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with DEVAL, LLC (``Deval'') that included a civil 
money penalty of $5,000. The settlement did not constitute an admission 
of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: DEVAL failed to timely notify FHA of a 
state sanction in fiscal year 2019.

20. Diamond Residential Mortgage Corporation, Lake Forest, IL [Docket 
No. 19-2044-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Diamond Residential Mortgage Corporation 
(``Diamond Residential'') that included a civil money penalty of 
$813,703. The settlement did not constitute an admission of liability 
or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Diamond Residential (a) failed to timely 
notify FHA of two state sanctions in fiscal year 2018; (b) failed to 
timely notify FHA of a state sanction imposed against an employee in 
fiscal year 2018; (c) failed to timely notify FHA of a business change 
affecting a state lending license; (d) engaged in business practices 
that did not conform to generally accepted practices of prudent 
mortgagees by failing to supervise properly a branch location and a 
branch manager; and (e) provided false information to FHA.

21. Embrace Home Loans, Inc., Middletown, RI [Docket No. 21-2167-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Embrace Home Loans, Inc. (``Embrace'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Embrace (a) failed to timely notify FHA 
of a state sanction in fiscal year 2019; and (b) submitted a false 
certification to FHA concerning fiscal year 2019.

22. FFC Mortgage Corporation, Irvine, CA [Docket No. 20-2099-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with FFC Mortgage Corporation (``FFC'') that included a civil 
money penalty of $5,000. The

[[Page 23221]]

settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: FFC failed to timely notify FHA of a 
state sanction in fiscal year 2019.

23. First Choice Loan Services, East Brunswick, NJ [Docket No. 20-2098-
MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with First Choice Loan Services (``First Choice'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: FFC failed to timely notify FHA of a 
state sanction in fiscal year 2019.

24. First Heritage Mortgage, LLC, Fairfax, VA [Docket No. 20-2128-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with First Heritage Mortgage, LLC (``First Heritage'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: First Heritage failed to timely notify 
FHA of a state sanction in fiscal year 2019.

25. Flagstar Bank, Troy, MI [Docket No. 20-2153-MR]

    Action: On February 25, 2021, the Board voted to authorize a 
settlement with Flagstar Bank (``Flagstar'') that required Flagstar to 
pay the Government $70,000,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following 
allegation: Flagstar failed to act in good faith to meet certain 
preconditions that triggered Flagstar's repayment obligations under a 
2012 False Claims Act settlement agreement.

26. FM Home Loans LLC, Brooklyn, NY [Docket No. 20-2138-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with FM Home Loans LLC (``FM Home Loans'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: FM Home Loans (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

27. Grande Home Loans, LLC, Dallas, TX [Docket No. 20-2119-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Grande Home Loans (``Grande Home'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Grande Home failed to maintain the 
required minimum adjusted net worth in fiscal year 2019.

28. Green Brick Mortgage, LLC, Dallas, TX [Docket No. 20-2131-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Green Brick Mortgage, LLC (``Green Brick'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Green Brick failed to maintain the 
minimum required adjusted net worth in fiscal year 2019.

29. Greenway Mortgage Funding Corporation, Middletown, NJ [Docket No. 
21-2175-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Greenway Mortgage Funding Corporation (``Greenway'') 
that included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Greenway failed to timely notify FHA of 
a state sanction in fiscal year 2019.

30. Group One Mortgage, Inc., Jupiter, FL [Docket No. 20-2073-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Group One Mortgage, Inc. (``Group One'') that 
included a civil money penalty of $24,442. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Group One (a) failed to maintain the 
minimum required adjusted net worth in fiscal years 2017 and 2018; and 
(b) failed to timely notify FHA that it did not meet the adjusted net 
worth requirement in fiscal year 2017.

31. GSF Mortgage Corporation, Brookfield, WI [Docket No. 21-2199-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with GSF Mortgage Corporation (``GSF'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: GSF failed to timely notify FHA of a 
state sanction in fiscal year 2020.

32. Guild Mortgage Company, San Diego, CA [Docket No. 16-cv-02909 (S.D. 
Cal.)]

    Action: On October 8, 2020, the Board voted to accept a False 
Claims Act settlement agreement involving Guild Mortgage Company 
(``Guild'') that included a payment to the United States of 
$24,900,000, of which $16,600,000 was restitution. For FHA-insured 
loans covered by the False Claim Act settlement agreement, the Board 
provided Guild a release for administrative liability under 24 CFR 
parts 25 and 30. The settlement did not constitute an admission of 
liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Guild knowingly caused ineligible 
mortgage loans to be endorsed with FHA insurance between July 1, 2007, 
and December 31, 2011.

33. Guild Mortgage Company, San Diego, CA [Docket No. 19-2019-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Guild Mortgage Company (``Guild'') that 
included a civil money penalty of $5,000 and execution of a life-of-
loan indemnification for one loan. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Guild (a) failed to obtain 
documentation evidencing a repayment agreement for the borrower's 
outstanding federal debt; (b) failed to verify the status of this debt; 
and (c) failed to document that funds used to pay off the borrower's 
debts prior to closing came from an acceptable source and to ensure 
that the borrower did not incur new debt not included in the debt-to-
income ratio used during underwriting.

[[Page 23222]]

34. Hancock Mortgage Partners, LLC, Sugar Land, TX [Docket No. 20-2149-
MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Hancock Mortgage Partners, LLC (``Hancock'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Hancock failed to timely notify FHA of a 
sanction in fiscal year 2020.

35. Home Mortgage Bankers, Carolina, PR [Docket No. 20-2024-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Home Mortgage Bankers that included a civil 
money penalty of $20,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Home Mortgage Bankers (a) failed to 
maintain a warehouse line of credit in fiscal year 2018; (b) failed to 
timely notify FHA of a warehouse line of credit deficiency in fiscal 
year 2018; (c) failed to maintain a warehouse line of credit in fiscal 
year 2019; and (d) failed to maintain a warehouse line of credit in 
fiscal year 2020.

36. HomeServices Lending, LLC, Golden Valley, MN [Docket No. 20-2127-
MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with HomeServices Lending, LLC (``HSL'') that included a 
civil money penalty of $10,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: HSL failed to timely notify FHA of two 
state sanctions in fiscal year 2019.

37. Homespire Mortgage Corporation, Gaithersburg, MD [Docket No. 21-
2189-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Homespire Mortgage Corporation 
(``Homespire'') that included a civil money penalty of $5,000. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Homespire failed to timely notify FHA 
of a state sanction in fiscal year 2020.

38. Hometown Lenders, Inc., Huntsville, AL [Docket No. 21-2196-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Hometown Lenders, Inc (``Hometown'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Hometown (a) failed to timely notify 
FHA of a state sanction in fiscal year 2020; and (b) submitted a false 
certification to FHA concerning fiscal year 2020.

39. Intercontinental Capital Group Inc d/b/a Fellowship HL, Melville, 
NY [Docket No. 20-2157-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Intercontinental Capital Group Inc. 
(``Intercontinental'') that included a civil money penalty of $20,067. 
The settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Intercontinental (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; (b) failed to 
timely notify FHA of a state sanction against a corporate officer in 
fiscal year 2019; and (c) submitted a false certification to FHA 
concerning fiscal year 2019.

40. Johnson Capital Multifamily, Inc., F/K/A Funding Incorporated, 
Houston, TX [Docket Nos. 20-2013-MR and 18-1897 MRT]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Johnson Capital Multifamily, Inc. (``Johnson 
Capital'') that included a civil money penalty of $60,980. Separately, 
the Board voted to enter into a settlement agreement with Johnson 
Capital that included a settlement of $4,500. The settlements did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Johnson Capital (a) failed to comply 
with FHA's annual recertification requirements in a timely manner 
following fiscal year 2017; (b) failed to maintain the required liquid 
assets in fiscal years 2019 and 2020; (c) failed to maintain the 
minimum required adjusted net worth in fiscal years 2019 and 2020; and 
(d) failed to timely notify FHA that it did not meet the adjusted net 
worth requirement or the liquid asset requirement in fiscal years 2019 
and 2020.

41. Jordan West Companies LTD d/b/a U.S. Mortgages, Centennial, CO 
[Docket No. 19-1964-MR]

    Action: On May 12, 2020, the Board voted to withdraw Jordan West 
Companies LTD (``Jordan West'') for a period of one year. Jordan West 
appealed the Board's action, and, on November 18, 2020, the Board voted 
to enter into a settlement agreement with Jordan West that included a 
civil money penalty in the amount of $60,000 and required the 
submission to FHA of quarter-end financial statements for a two-year 
period and the implementation of a detailed corrective action plan. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board withdrew Jordan West's FHA-approval based on the 
following alleged violation of FHA requirements: Jordan West failed to 
maintain the minimum required adjusted net worth in fiscal year 2018. 
As to the settlement, the Board took this action based on the following 
alleged violations of FHA requirements: Jordan West (a) failed to 
maintain the minimum required adjusted net worth in fiscal years 2018, 
2019, and 2020; (b) failed to timely notify FHA that it did not meet 
the adjusted net worth requirement in fiscal years 2018, 2019, and 
2020; (c) failed to timely notify FHA of an operating loss in excess of 
20 percent of its quarter-end net worth in fiscal year 2018; and (d) 
failed to submit to FHA the required quarterly financial statements 
following a quarterly loss exceeding 20 percent of net worth.

42. Keller Mortgage, LLC, Dublin, OH [Docket No. 20-2142-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Keller Mortgage, LLC (``Keller Mortgage'') that included 
a civil money penalty of $15,067. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Keller Mortgage (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

43. Liberty Mortgage Corporation, Vestavia, AL [Docket No. 20-2156-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Liberty Mortgage

[[Page 23223]]

Corporation (``Liberty Mortgage'') that included a civil money penalty 
of $15,067. The settlement did not constitute an admission of liability 
or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Liberty Mortgage (a) failed to maintain 
minimum liquid asset requirements in fiscal year 2020; and (b) failed 
to timely notify FHA that it did not meet the minimum liquid asset 
requirement in fiscal year 2020.

44. LoanSnap, Inc., Costa Mesa, CA [Docket No. 20-2114-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with LoanSnap, Inc (``LoanSnap'') that included a civil money 
penalty of $25,000. The settlement did not constitute an admission of 
liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: LoanSnap (a) failed to timely notify 
FHA of an operating loss in excess of 20 percent of its quarter-end net 
worth in fiscal year 2019; and (b) failed to submit to FHA the required 
quarterly financial statements following a quarterly loss exceeding 20 
percent of net worth.

45. Long Lake MSR, Inc., Troy, MI [Docket No. 20-2120-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Long Lake MSR (``Long Lake'') that included a civil 
money penalty of $5,000. The settlement did not constitute an admission 
of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Long Lake failed to timely notify FHA 
of a state sanction in fiscal year 2019.

46. M Squared Financial, LLC d/b/a Fountain Mortgage, Prairie Village, 
KS [Docket No. 20-2132-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with M Squared Financial, LLC (``M Squared'') that included a 
civil money penalty of $5,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: M Squared failed to timely notify FHA 
of a state sanction in fiscal year 2019.

47. Manhattan Financial Group, Inc., Escondido, CA [Docket No. 20-2039-
MR]

    Action: On November 17, 2020, the Board voted to enter into a 
settlement agreement with Manhattan Financial Group, Inc (``Manhattan 
Financial'') that included a civil money penalty of $14,819. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Manhattan Financial (a) failed to 
timely notify FHA of a state sanction in fiscal year 2018; and (b) 
submitted a false certification to FHA concerning fiscal year 2018.

48. MMS Mortgage Services, Ltd, Farmington Hills, MI [Docket No. 20-
2125-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with MMS Mortgage Services (``MMS'') that included 
a civil money penalty of $5,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: MMS failed to timely notify FHA of a 
state sanction in fiscal year 2019.

49. Monarch Funding Corp, Anaheim, CA [Docket No. 20-2097-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Monarch Funding Corp (``Monarch Funding'') 
that included a civil money penalty of $15,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Monarch Funding (a) failed to maintain 
a warehouse line of credit in fiscal year 2019; (b) failed to timely 
notify FHA of a warehouse line of credit deficiency in fiscal year 
2019; and (c) failed to maintain a warehouse line of credit in fiscal 
year 2020.

50. Multiples Mortgage Corporation, San Juan, PR [Docket No. 20-2126-
MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Multiples Mortgage Corporation (``Multiples'') that 
included a civil money penalty of $15,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Multiples (a) failed to timely notify 
FHA of operating losses exceeding 20 percent in fiscal year ended 2019; 
and (b) failed to timely notify FHA of a change in corporate officers 
in the fiscal years 2018 and 2020.

51. Network Funding LP, Houston, TX [Docket No. 20-2107-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Network Funding LP (``Network Funding'') that included a 
civil money penalty of $14,468. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Network Funding (a) failed to timely 
notify FHA of a state sanction in fiscal year 2016; and (b) submitted a 
false certification to FHA concerning fiscal year 2016.

52. New West Lending, Inc., Phoenix, AZ [Docket No. 21-2188-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with New West Lending Inc. (``New West'') that 
included a civil money penalty of $10,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: New West (a) failed to timely notify 
FHA of a state sanction in fiscal year 2020; and (b) overcharged an FHA 
borrower in violation of the Truth in Lending Act.

53. NJ Lenders Corporation, Little Falls, NJ [Docket No. 20-2155-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with NJ Lenders Corporation (``NJ Lenders'') that included a 
civil money penalty of $15,067. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: NJ Lenders (a) failed to timely notify 
FHA of a state sanction in fiscal year 2019; and (b) submitted a false 
certification to FHA concerning fiscal year 2019.

54. Pacific Residential Mortgage, LLC, Lake Oswego, OR [Docket No. 21-
2162-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Pacific Residential Mortgage, LLC (``Pacific 
Residential'') that included a civil money penalty of $15,067. The 
settlement did not constitute an admission of liability or fault.

[[Page 23224]]

    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Pacific Residential (a) failed to 
timely notify FHA of a state sanction in fiscal year 2019; and (b) 
submitted a false certification to FHA concerning fiscal year 2019.

55. Paragon Mortgage Corporation, Phoenix, AZ [Docket No. 20-2159-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Paragon Mortgage Corporation (``Paragon'') that included 
a civil money penalty of $20,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Paragon (a) failed to timely notify FHA 
of an operating loss in excess of 20 percent of its quarter-end net 
worth in fiscal year 2019; and (b) failed to submit to FHA the required 
quarterly financial statements following a quarterly loss exceeding 20 
percent of net worth.

56. Polaris Home Funding Corporation, Grandville, MI [Docket No. 20-
2021-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Polaris Home Funding Corporation (``Polaris Home 
Funding'') that included a civil money penalty of $29,886. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Polaris Home Funding (a) failed to 
timely notify FHA of state sanctions in fiscal years 2018 and 2019; and 
(b) submitted false certifications to FHA concerning fiscal year 2018 
and 2019.

57. Premier Lending, Inc., Charlotte, NC [Docket No. 20-2146-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Premier Lending, Inc. (``Premier Lending'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Premier Lending (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

58. R M K Financial Corp d/b/a Majestic Home Loans, Ontario, CA [Docket 
No. 20-2086-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with R M K Financial Corp. (``R M K'') that 
included a civil money penalty of $40,268 and execution of a five-year 
indemnification for two loans. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: R M K (a) failed to adequately document 
and implement its Quality Control Program; (b) failed to identify a 
conflict of interest in connection with an FHA-insured mortgage; and 
(c) failed to document that a borrower had sufficient funds available 
from an acceptable source to close a loan.

59. Ready Mortgage Lenders, LLC, Miami, FL [Docket No. 21-2190-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Ready Mortgage Lenders, LLC (``Ready'') that 
included a civil money penalty of $10,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Ready (a) failed to timely notify FHA 
of a change in ownership in fiscal year 2017; and (b) failed to timely 
notify FHA of a state sanction in fiscal year 2020.

60. Renaissance Lenders Inc., Pasadena, MD [Docket No. 20-2152-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Renaissance Lenders Inc. (``Renaissance'') 
that included a civil money penalty of $90,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Renaissance (a) failed to maintain the 
minimum required adjusted net worth in fiscal years 2019 and 2020; (b) 
failed to timely notify FHA that it did not meet the adjusted net worth 
requirement in fiscal year 2019; (c) failed to maintain the required 
liquid assets in fiscal years 2019 and 2020; (d) failed to timely 
notify FHA that it did not meet the minimum liquid asset requirement in 
fiscal years 2019 and 2020; (e) failed to maintain an acceptable 
funding program in fiscal years 2019 and 2020; (f) failed to timely 
notify FHA of a funding program deficiency in fiscal year 2019; (g) 
failed to maintain the required fidelity bond coverage in fiscal year 
2019; (h) failed to timely notify FHA of a change in fidelity bond 
coverage in fiscal year 2019; (i) failed to maintain the required 
fidelity bond coverage in fiscal year 2020; (j) failed to maintain the 
required error and omissions insurance in fiscal years 2019 and 2020; 
(k) failed to timely notify FHA of a change in error and omissions 
insurance in fiscal year 2019; and (l) failed to submit to FHA the 
required quarterly financial statements following a quarterly loss 
exceeding 20 percent of net worth.

61. Reverse Mortgage Funding, Bloomfield, NJ [Docket No. 20-2151-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with Reverse Mortgage Funding (``Reverse 
Mortgage'') that included a repurchase of a Home Equity Conversion 
Mortgage (HECM) loan, execution of a life-of-loan indemnification for 
one HECM loan, and a civil money penalty of $10,067. The settlement did 
not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Reverse Mortgage (a) submitted false 
information in connection an assignment to FHA of a HECM in fiscal year 
2019; and (b) assigned an ineligible HECM loan to FHA in fiscal year 
2019.

62. River City Mortgage, LLC, Blue Ash, OH [Docket No. 21-2172-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with River City Mortgage, LLC (``River City'') that included 
a civil money penalty of $10,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: River City (a) failed to timely notify 
FHA of a state sanction in fiscal year 2019; and (b) failed to timely 
notify FHA of a state sanction in fiscal year 2020.

63. Semper Home Loans Inc., Providence, RI [Docket No. 21-2170-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Semper Home Loans, Inc. (``Semper'') that included a 
civil money penalty of $15,067. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Semper

[[Page 23225]]

(a) failed to timely notify FHA of a state sanction in fiscal year 
2019; and (b) submitted a false certification to FHA concerning fiscal 
year 2019.

64. Senior Mortgage Banker, Inc., San Juan, PR [Docket No. 20-2040-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Senior Mortgage Banker, Inc (``Senior'') that included a 
civil money penalty of $15,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Semper (a) failed to maintain the 
minimum required adjusted net worth in fiscal year 2017; (b) failed to 
timely notify FHA that it did not meet the adjusted net worth 
requirement in fiscal year 2017; and (c) failed to maintain the minimum 
required adjusted net worth in fiscal year 2018.

65. Servis One Inc. d/b/a BSI Financial Services, Irving, TX [Docket 
No. 20-2154-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Servis One, Inc. (``Servis'') that included a civil 
money penalty of $10,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Servis (a) failed to timely notify FHA 
of an operating loss in excess of 20 percent of its quarter-end net 
worth in fiscal year 2020; and (b) failed to timely notify FHA of a 
sanction in fiscal year 2020.

66. SIRVA Mortgage, Inc., Independence, OH [Docket No. 21-2197-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with SIRVA Mortgage, Inc. (``SIRVA'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: SIRVA failed to timely notify FHA of a 
state sanction in fiscal year 2020.

67. SouthPoint Financial Services, Inc., Alpharetta, GA [Docket No. 20-
2084-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with Southpoint Financial Services, Inc. (``SouthPoint'') 
that included a civil money penalty of $39,065. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: SouthPoint (a) failed to timely notify 
FHA of an operating loss in excess of 20 percent of its net worth in 
fiscal year 2018; (b) failed to submit to FHA the required quarterly 
financial statements following a quarterly loss exceeding 20 percent of 
net worth; (c) failed to maintain the minimum required adjusted net 
worth in fiscal year 2018; and (d) failed to timely notify FHA that it 
did not meet the adjusted net worth requirement in fiscal year 2018.

68. Southwest Funding LP, Dallas, TX [Docket No. 20-2000-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Southwest Funding LP (``Southwest Funding'') 
that included a civil money penalty of $220,703. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Southwest Funding (a) failed to 
cooperate with FHA lender monitoring reviews in 2017 and 2018; (b) 
implemented a Quality Control Plan (QC) that omitted required elements; 
(c) failed to ensure its QC vendors made accurate loan sample risk 
assessments; (d) failed to self-report material findings for four 
loans; (e) failed to complete timely reviews of its early payment 
defaults in accordance with FHA requirements; and (f) failed to ensure 
that its training policies complied with FHA requirements.

69. Summit Funding Inc., Sacramento, CA [Docket No. 20-2161-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Summit Funding Inc. (``Summit Funding'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Summit Funding (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

70. TAM Lending Center, Inc., Cherry Hill, NJ [Docket No. 20-2014-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with TAM Lending Center, Inc. (``TAM Lending Center'') that 
included a civil money penalty of $10,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: TAM Lending Center (a) failed to 
maintain the minimum required adjusted net worth in fiscal year 2018; 
and (b) failed to timely notify FHA that it did not meet the adjusted 
net worth requirement in fiscal year 2018.

71. Thompson Kane & Company, LLC, Madison, WI [Docket No. 19-1987-MRT]

    Action: On November 18, 2021, the Board voted to enter into a 
settlement agreement with Thompson Kane & Company (``Thompson Kane'') 
that included a civil money penalty of $39,819. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Thompson Kane (a) to comply with FHA's 
annual recertification requirements in a timely manner following fiscal 
year 2018; (b) failed to maintain the minimum required adjusted net 
worth in fiscal year 2018; (c) failed to timely notify FHA that it did 
not meet the adjusted net worth requirement in fiscal year 2018; (d) 
failed to maintain the required liquid assets in fiscal year 2018; (e) 
failed to timely notify FHA that it did not meet the minimum liquid 
asset requirement in fiscal year 2018; (f) failed to timely notify FHA 
of an operating loss in excess of 20 percent of its quarter-end net 
worth in fiscal year 2018; and (g) failed to submit to FHA the required 
quarterly financial statements following a quarterly loss exceeding 20 
percent of net worth in fiscal year 2018.

72. Total Media Management LLC d/b/a New South Mortgage, Huntsville, AL 
[Docket No. 19-1941-MR]

    Action: On June 30, 2021, the Board voted to enter into a 
settlement agreement with Total Media Management, Inc. (``Total 
Media'') that included a civil money penalty of $142,619 and execution 
of a life-of-loan indemnification for six HECM loans. The settlement 
did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Total Media (a) failed to maintain the 
minimum required adjusted net worth in fiscal years 2017, 2018, and 
2019; (b) failed to timely notify FHA that it did

[[Page 23226]]

not meet the adjusted net worth requirement in fiscal years 2017, 2018, 
and 2019; (c) failed to maintain the required liquid assets in 2017; 
(d) failed to timely notify FHA that it did not meet the minimum liquid 
asset requirement in fiscal year 2017; (e) violated FHA's underwriting 
requirements for three HECM loans by failing to analyze the borrower's 
credit history to determine the borrower's willingness and ability to 
timely meet the financial obligations; and (f) violated FHA's 
underwriting requirements for five HECM loans by failing to document 
the borrower's income, verify the accuracy of the income reported, or 
determine whether the offered income was effective income.

73. Unify Home Lending, Inc., Rapid City, SD [Docket No. 20-2094-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with Unify Home Lending, Inc. (``Unify'') that 
included a civil money penalty of $15,067. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Unify (a) failed to maintain the 
minimum required adjusted net worth in fiscal year 2019; and (b) failed 
to timely notify FHA that it did not meet the adjusted net worth 
requirement in fiscal year 2019.

74. United Community Banks, Inc., Greenville, SC [Docket No. 21-2210-
MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with United Community Banks, Inc. (``United 
Community'') that included a civil money penalty of $5,000. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: United Community failed to notify FHA of 
a change in business structure in fiscal year 2020.

75. United Shore Financial Services, LLC, Pontiac, MI [Docket No. 20-
2075-MR]

    Action: On November 18, 2020, the Board voted to enter into a 
settlement agreement with United Shore Financial Services, LLC 
(``United Shore'') that included reimbursement of claims for FHA 
mortgage insurance for five loans in the amount of $675,861.89. The 
settlement did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: United Shore violated FHA's 
underwriting requirements for five loans for (a) failure to document 
transfer of gift funds; (b) failure to document source of funds used to 
pay off a debt and pre-closing deposits; (c) failure to manually 
underwrite loans that had disputed credit report entries; (d) failure 
to properly calculate and document borrower income; (e) failure to 
properly verify borrower assets; (f) failure to order a required second 
appraisal; and (g) failure to include all borrower debts.

76. Vibrant Credit Union, Moline, IL [Docket No. 20-2102-MR]

    Action: On November 18, 2021, the Board voted to enter into a 
settlement agreement with Vibrant Credit Union (``Vibrant'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Vibrant failed to timely notify FHA of a 
change in business structure in fiscal year 2019.

77. Victorian Finance LLC, Pittsburgh, PA [Docket No. 20-2139-MR]

    Action: On May 11, 2021, the Board voted to enter into a settlement 
agreement with Victorian Finance LLC (``Victorian Finance'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: Victorian Finance (a) failed to timely 
notify FHA of a state sanction in fiscal year 2019; and (b) submitted a 
false certification to FHA concerning fiscal year 2019.

78. WestCoast Mortgage Group and Realty Company, Sacramento, CA [Docket 
No. 20-2133-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with WestCoast Mortgage Group and Realty Company (``West 
Coast'') that included a civil money penalty of $5,000. The settlement 
did not constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: West Coast failed to timely notify FHA 
of a state sanction in fiscal year 2019.

79. Westerra Credit Union, Denver, CO [Docket No. 20-2158-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with. Westerra Credit Union (``Westerra'') that included a 
civil money penalty of $5,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Westerra failed to notify FHA of a 
change in business structure in fiscal year 2019.

80. Willow Bend Mortgage Company LLC, Plano, TX [Docket No. 21-2169-MR]

    Action: On May 18, 2021, the Board voted to enter into a settlement 
agreement with. Willow Bend Mortgage Company LLC (``Willow Bend'') that 
included a civil money penalty of $5,000. The settlement did not 
constitute an admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violation of FHA requirements: Willow Bend failed to timely notify FHA 
of a state sanction in fiscal year 2019.

81. WVMF Funding LLC, Wilmington, DE [Docket No. 21-2217-MR]

    Action: On September 21, 2021, the Board voted to enter into a 
settlement agreement with WVMF Funding LLC (``WVMF'') that included a 
civil money penalty of $10,000. The settlement did not constitute an 
admission of liability or fault.
    Cause: The Board took this action based on the following alleged 
violations of FHA requirements: WVMF (a) failed to maintain the minimum 
required adjusted net worth in fiscal year 2020; and (b) failed to 
timely notify FHA that it did not meet the adjusted net worth 
requirement in fiscal year 2020.

II. Lenders That Failed to Timely Meet Requirements for Annual 
Recertification of FHA Approval but Came Into Compliance

    Action: The Board entered into settlement agreements with the 
following lenders, which required the lender to pay a civil money 
penalty without admitting fault or liability.
    Cause: The Board took these actions based upon allegations that the 
listed lenders failed to comply with FHA's annual recertification 
requirements in a timely manner.
    The following lenders paid civil money penalties of $10,245.

1. Cross River Bank, Teaneck, NJ [Docket No. 21-2231-MRT]

[[Page 23227]]

2. Financial Partners Credit Union, Downey, CA [Docket No. 21-2218-MRT]
3. West One Capital Group, Inc., Newport Beach, CA [Docket No. 21-2222-
MRT]

    The following lender paid civil money penalties of $10,067.

4. Rusty Rose Inc., Miami, FL [Docket No. 20-2105-MRT]

    The following lender paid civil money penalties of $10,000.
5. Logan Finance Corporation, Blytheville, AR [Docket No. 21-2178]

    The following lender paid civil money penalties of $9,623.

6. Idaho First Bank, Boise, ID [Docket No. 20-2106-MRT]

    The following lenders paid civil money penalties of $5,000.

7. Cooperativa De Ahorro y Cr[eacute]dito Caguas, Caguas, PR [Docket 
No. 21-2164-MRT]
8. Eclipse Bank, Inc., Louisville, KY [Docket No. 21-2212-MRT]
9. FedEx Employees Credit Association, Memphis, TN [Docket No. 21-2239-
MRT]
10. First Independence Bank, Detroit, MI [Docket No. 21-2228-MRT]
11. First National Bank of Tom Bean, Tom Bean, TX [Docket No. 21-2226-
MRT]
12. Genhome Mortgage Corporation f/k/a Beckham Funding Corp., Irvine, 
CA [Docket No. 21-2237-MRT]
13. Greenbox Loan, Inc., Los Angeles, CA [Docket No. 21-2244-MRT]
14. Home Financing Center, Inc., Coral Gables, FL [Docket No. 21-2141-
MRT]
15. Sterling Bank and Trust, F.S.B., Southfield, MI [Docket No. 20-
2101-MRT]
16. Washington County Bank, Blair, NE [Docket No. 21-2219-MRT]
17. Wyoming Community Bank, Riverton, WY [Docket No. 20-2108-MRT]

III. Lenders That Failed To Meet Requirements for Annual 
Recertification of FHA Approval

    The Board voted to withdraw Essential Federal Credit Union of Baton 
Rouge, LA for a period of one year on September 19, 2019 for its 
alleged failure to meet the annual recertification requirements in 
fiscal year 2018.

Lopa P. Kolluri,
Principal Deputy Assistant Secretary for Housing--Federal Housing 
Administration, Mortgagee Review Board.
[FR Doc. 2022-08340 Filed 4-18-22; 8:45 am]
BILLING CODE 4210-67-P