Speaking on the subject of "Engaging Borrowers on Their Terms" at the Servicing Lab as part of the Five Star Conference on Tuesday, Green Tree Servicing's SVP of business control and client management, Mark Atencio, pointed out the many similarities between a mortgage and a marriage.
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A federal judge has reversed HUD's decision to temporarily suspend Allied Home Mortgage Corporation after the agency accused the bank of committing fraud and violating several Federal Housing Administration (FHA) requirements. The judge said the damage to Allied's business as a result of the suspension outweighs any harm that would be suffered by the government before the issues can be litigated. Allied and its CEO deny the allegations against them.
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As of Tuesday, HUD's Mortgage Review Board is suspending Houston-based Allied Home Mortgage Corporation from originating or underwriting new mortgages insured by the Federal Housing Administration (FHA), and Ginnie Mae is suspending the lender from issuing bonds through its mortgage-backed securities program. HUD also suspended James C. Hodge, Allied's president and CEO and may debar Hodge and Jeanne L. Stell, EVP of Allied Home Mortgage.
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