Eight mortgagees have had their origination approval agreements terminated by the U.S. Department of Housing and Urban Development under the Credit Watch Termination Initiative, according the Federal Register. HUD said it terminates the agreements when loans originated by the mortgagees have default and claim rates higher than the national rate, and they exceed the local area's default and claim rate by 200 percent. Among the latest mortgagees to lose their FHA approval was a branch of Assurity Financial Services LLC, according to the notice.
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