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Shaun Donovan

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HUD Takes the Axe to FHA Direct Endorsements 

May 25, 2009By

The US Department of Housing and Urban Development (HUD) on Thursday cut off 102 Federal Housing Administration (FHA)-approved lenders from participation in the government program, which insures lenders against default-related losses on qualifying mortgages. The termination of these lenders’ direct endorsements came as part of HUD’s actions taken against 120 lenders for violating FHA requirements.