Home / News / Government / HUD Reaches $202M Settlement With Deutsche Bank
Print This Post Print This Post

HUD Reaches $202M Settlement With Deutsche Bank

in Government May 10, 2012 766 Views

HUD announced Thursday that it reached a $202 million settlement with Deutsche Bank and Mortgageit over allegations of misconduct and false certifications with a government lender program. The agency said that Mortgageit acknowledged and accepted responsibility for false certifications it submitted to HUD in order to gain from a direct lender program under the Federal Housing Administration. For its part, Deutsche Bank admitted wrongdoing by failing to account for Mortgageit's activities when personnel with the financial institution were in a place to know about them.

To read the full story, visit our sister publication ""theMReport.com"":http://www.themreport.com/articles/hud-reaches-202m-settlement-with-deutsche-bank-2012-05-10.

Tagged with:

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
DSNews.com copyright 2024 is a registered trademark of The Five Star Institute
x

Check Also

HUD Grants $150M to Tribal Communities for New, Affordable Housing

“Strong investments in Tribal communities help ensure residents can access much-needed safe and affordable housing,” said Secretary Marcia L. Fudge. “The funds HUD is making available will meet the challenges of today and allow Tribal communities to make innovative and vital advancements needed to prepare for the future."